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SHAKING THE MONEY TREE: MAKING THE MOST OF FINANCIAL RESOURCES FOR INTERNATIONAL STUDENTS NAFSA Region VIII – Pittsburgh, PA
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Page 1: Shaking the money tree   region viii

SHAKING THE MONEY TREE: MAKING THE MOST OF FINANCIAL RESOURCES FOR INTERNATIONAL STUDENTS

NAFSA Region VIII – Pittsburgh, PA

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Jennifer FrankelDirector of Financial Services

Envisage International

Keisha JimmersonDirector of Intercultural Services

Seton Hill University

Rebecca LeeDirector of International Student Services and Enrollment

Point Park University

Presenters

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Case Study Instructions

Each group gets a case study to analyze and discuss with fellow group members.

As a group, discuss the issues and how you would address the problem.

One member from each group will give an overview of the case study along with the approach your group would take.

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Student Case Studies

Case Study #1: Freshman international student, Kamal comes to campus. First semester,

she does extremely well academically and socially. Kamal begins have difficulty toward the middle of second semester. She informs you that her uncle has lost his job in Nepal. He was assisting with her college expenses. How can you help Kamal? What steps can you advise her to take?

Case Study #2: An international graduate student, Ivan is almost down with his graduate

degree. In his last term, he is offered a job at an area agency. Currently, he works on campus. He wants to work on campus and take the job as an internship. Thoughts?

Discussion: What issues have you encountered at your institutions with helping international students around finances?

http://www.usastudyguide.com/international-student-scholarships-and-financial-aid.htm

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Primary Sources of Funding 2012-2013

Open Doors Report 2013

Personal and Family (63.6%)

U.S. College or University (20.7%)

Foreign Government or University (7.1%)

Current Employment (5.3%)

Foreign Private Sponsor (1.1%)

U.S. Private Sponsor (0.6%)

U.S. Government (0.8%)

International Organization (0.2%)

Other Sources (0.6%)

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Tuition On The Rise

According to MSN, “college tuition has jumped by 500% since 1985”

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Choosing a School- Is it Yours?

What is a student’s budget and what is your value proposition?

Rural v. Urban, Private v. Public, Community College v. Four-Year Institution Financial Assistance v. Personal Funds (is it realistic?)Investment in retention? Transfer credits, programming, services?????

Be transparent!

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Be Budget Savy: Help Students Select the Right School How do you evaluate the costs on-

campus for the I-20? Is a complete summary of costs outlined

to prospective students? Weighing recruitment versus advising

Transparency on costs is key.

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Prearrival Budget Info

Tuition and University Fees for One Academic Year(2 Semesters) of Full-Time Study

  Undergraduate Undergraduate (COPA)*

Graduate

Tuition (12-18 Cr. / semester) $24,980

(12-18 Cr. / semester) $31,540

(9 credits /semester) $14,238

University Fees $540

$540

$846

Technology Fee $300 $300 $90

Activity Fee $350

$350

--

Health Insurance (UPMC) $1,750 $1,750 $1,750

Subtotal $27,920 $34,480 $16,924Personal and Living Expenses for One Year (2 semesters)

  Undergraduate* Undergraduate (COPA)*

Graduate*

Room (double occupancy) $4,860 $4,860 $4,860

Board (14 meals/week + $200 Flex) $5,360 $5,360 $5,360Books (estimated)

$900

$900

$900Miscellaneous (estimated) $1,000 $1,000 $1,000Subtotal $12,120 $12,120 $12,120

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Budget Risk Factors

Exchange rate fluctuations/crisis in home country

Interruption of funds (life changing event)

Inability to stick to a budget/land of plenty

Withdrawal of funds from sponsor

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Other Expenses To Convey

Roundtrip airfare Potential interviews Lodging (interviews or early arrival) Athletes/Intl arrival before semester

begins Cafeteria Dormitories

Visa application fees Transportation

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Transparency- must be in writing

Steps to Paying your Bill 1. Secure financial aid such as private student loans or private scholarships 2. Enroll in a University payment plan for remain- der of expenses. 3. Pay tuition and fees in full by the tuition due date.

Point Park University’s Billing Policies Registration and housing contracts determine

your semester charges. Any changes to registration or housing can

impact your account balance. Statements are available by logging into

PointWeb at pointweb.pointpark.edu. You must either make a full payment or set

up a payment plan prior to the semester start date. Visit w w w .po intpar k .edu/tu it io nduedates for specific due dates. If you register after the tuition due date, payment is due upon registration.

Monthly late fees of $75 are assessed on past due accounts.

“Business holds” are placed on past due accounts; the student will be ineligible for schedule change, future registration, official transcripts and/or diplomas.

2012-2013 Tuition and Fees

Semester Due Date Fall 2012 Aug. 15, 2012 Spring 2013 Dec. 17, 2012 Summer 2013 May 1, 2013

For Information: www.pointpark.edu/about/tuitioncosts

Payment Plans Point Park University offers several payment plans which allow students to pay their tuition in installments rather than in one large payment. There are three payment plans available to students. Each plan includes an enrollment fee which cannot be waived. Annual Payment Plan Fall and spring terms combined Enrollment fee $115 Option #1: 10 equal payments beginning June 15 Option #2: 9 equal payments beginning July 15 Option #3: 8 equal payments beginning Aug. 15 Semester Payment Plan-Fall Only Enrollment fee $65 Option #1: 5 equal payments beginning July 15 Option #2: 4 equal payments beginning Aug. 15 Semester Payment Plan-Spring Only Enrollment fee $65 4 equal payments beginning Dec. 17

To Enroll and for More Info rm ation: w w w .pointpark.edu/paym entplans

Payment Methods Online: e-check, Discover, MasterCard In the Student Accounts Office: cash, check, money order Payer Authorization You may authorize others to view your statements and make payments online. To set up authorized payers, visit pointweb.pointpark.edu.

Office of Student Accounts Phone: 412-392-3424 Fax: 412-392-3962 Email: studentaccounts@ pointpark .edu

Private Student Loans An educational loan is a form of financial aid that must be repaid, with interest. Private student loans issued thr o ugh US banks are the only form of loans that international students qualify for.

Conditions include: You are enrolled at an approved

college or University. You have a US citizen or permanent

resident willing to sign as a co- applicant.

Your co-applicant can satisfy credit approval criteria.

For more information visit www.internationalstudentloan.com

Private Scholarships Undergraduate scholarships and graduate fellowships are forms of aid that help students pay for their education. Unlike student loans, scholarships and grants do not have to be repaid. Generally, scholarships and fellowships are reserved for students with special qualifications, such as academic, athletic or artistic. The following website have information about private scholarships available: www.petersons.com www.internationalstudent.com www.scholarshipexperts.com www.fastweb.com

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Post Arrival

Orientation Handouts- local services, worship

opportunities, eating establishments and transportation options

Employment- be specific during orientation

Economic Hardship- Retention

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Staying connected with the Intl Office

Social media-all important! Listserves Website Private scholarships On campus employment Campus clubs and alumni Religious/immigration groupsSTAYING CONNECTED IS KEY!

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Employment

Private work study/CPT/OPT On-Campus Employment for F-1 Point Park University Students F-1 students are permitted to work part time (up to 20 hours per week) on our

campus while they are attending Point Park University. F-1 students are not eligible to work off campus. Students who are found to be working off campus will be at risk of having their I-20 terminated.

Students must seek out available positions on campus on their own. Those seeking positions on our campus can apply to the following places:

• Starbucks on campus—first floor of Constega Hall • Bookstore—first floor of Lawrence Hall • Osteria on campus—Village Park • ARAMARK Inc. Food Services—2nd floor of Lawrence Hall If students have not been employed before in the United States, they will need

to get a Social Security Card. An offer of employment is needed prior to issuance of the Social Security number. Once you have secured a position, please visit the ISSE office for more information on your next steps.

Any students with questions regarding on-campus employment can come to the ISSE office located at 101 Wood Street.

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External Free Money

Scholarships Grants Fellowships Assistantships

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The Funding Cycle for International Students

Private organizations (U.S. and

international)

Foundations and

Philanthropies

International agencies

Colleges and

universities

Religious organization

s and associations

Home government or embassy

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http://www.usastudyguide.com/international-student-scholarships-and-financial-aid.htm

IEFA.org FundingUSStudy.org

External Resources for International Students

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InternationalScholarship.com AbroadPlanet.com

External Resources for International Students

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edu.fastweb.com bigfuture.collegeboard.org

External Resources for International Students

http://www.usastudyguide.com/international-student-scholarships-and-financial-aid.htm

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Bridge the Gap: International Student Loans

• Stafford Loan• Perkins Loan• PLUS Loan

Which of these are available to an international student?

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Compare Lenders for International Students

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Interactive Forum

What award programs do you offer international students at your school and how do they work?

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Interactive Forum

Do you partner with stakeholders and how did you develop that relationship?

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Interactive Forum

What are some challenges that your international face when it comes to financial aid?

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Thank you!

Jennifer [email protected]

224 First Street

Neptune Beach, FL 32266

(904) 247-1387 ext 104

Keisha Che’re [email protected]

Greensburg, PA 15601

724-830-1089

Rebecca [email protected]

201 Wood Street

Pittsburgh, PA 15222

(412) 392-3903


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