Financial Assistance for Schooling in International Assignments

Fee-paying schools are often expensive and there may be limited financial assistance for private schooling in many international locations.  That doesn’t mean that if you or your assignees are unable to pay the entire cost of school fees, however, that doesn’t automatically mean you should eliminate the  school from consideration. It is always worth checking the customs of the country, as well as the policy of the school regarding financial aid.

In some countries, financial assistance is need-based, and in others it is merit based. Depending on your individual circumstances, one or the other may be to your advantage. It is always wise to inquire about financial aid at the start of the application process. Typically financial aid budgets get used quickly, so the earlier you or your assignees apply, the better.

Here are some questions to ask to determine whether the school is an option:

ü  Does the school administer financial aid?

Do funds cover all or part of tuition? Additional fees? Uniforms, lunch, transportation, trips, books, other expenses?

Are there different fees depending on where you live?

On what basis is aid determined?

If a student is granted aid in the first year, what is the likelihood of receiving aid in subsequent years?

If a student is granted financial aid, what is the likelihood of a sibling receiving financial assistance?

Is it possible to receive financial aid even if you apply late in the admissions cycle, or are all funds distributed during the regular application process?

Are there loans available?

When you enroll in school, for what part of the year are you responsible paying?

Is there an insurance program available in the event of an unanticipated relocation or repatriation?

Cost  Factors

Often school fees are set based on several factors and the questions below can help you understand how much you are paying and why. School fees may differ by age (families may pay less for younger children than older ones, or may be determined by length of day) and sometimes even by program. These factors might affect other choices you make; for instance, it might make sense to live in a particular “catchment area,” or district if you have a specific school in mind.

1. What factors affect fees? For instance, are there different fees depending on area of residence? Or does the program of study determine the fees as it does at the International School of Seychelles
2. Are fees negotiable?  Excess capacity during difficult financial times may make negotiation possible even in schools where that was not the case two years ago.
3. Do fees cover all or part of tuition? If there are additional fees, what are they? Uniforms, lunch, transportation, trips, books and other expenses?
4. Are there discounts for enrolling siblings? (As there is at the International School of Ulaanbaatar in Mongolia).
5. When enrolling, when are you responsible for paying?  Can you pay over time?

Financial Aid for Expatriates

In the past, companies have been very generous in paying schooling costs for expat families, even when tuition is high. However, this model may be changing and some companies are now asking their employees to consider local schooling or to share the expense. In many countries localization is a very viable option and should be worth considering (www.GlobalEducationExplorer.com provides valuable information to understand local schooling and compare curriculum and assessments to those from home.   If localization is not your preference, these questions can help you figure out if financial aid is available:

Article on types of financial assistance

Subscription based web resource on global education and localization: Global Education Explorer.

Loans and Insurance

Loans or payment plans may help fund school fees. You might check both local financial institutions, as well as loan offers in the home country. Insurance may be important in these uncertain times as well.

1. Are there loans available?
2. How is repayment structured?
3. Is there an insurance program available in the event of an unanticipated relocation?

Helpful blog on international student loans

Discussion on loans for boarding schools

Scholarships

Consider looking for a scholarship for your child, regardless of whether he or she is the smartest student in class! Take your time and think outside the box when searching for scholarships, for instance, the expat youth scholarship “Life in a Flying House” by Clements International, Global Insurance Solutions, is based on creative essay and media contest.

1. Are there scholarships?
2. Are there any internet sites that search scholarships?
3. Are certain schools more likely to offer scholarships than others?
4. If someone has a scholarship in their home country- can this be transferred?

Studyabroad.com has a link of scholarships and educational lenders that might be useful

Fastweb.com is very U.S. centric but has a lot of good informational on financial assistance and scholarships as well as international internships.

Source: School Choice International