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Financial Aid for MS in Finance: Your Top 10 Options

Financial aid for MS in Finance: Your top 10 options

Financial Aid for MS in Finance: Your Top 10 Options

Want to pursue an MS in Finance, but afraid of the tuition fees? 

Don’t worry, we’ve got you covered! 

 

From scholarships to loans and employer tuition assistance…

There are plenty of ways to get financial aid for your degree.

Financial Aid for MS in Finance: Your Top 10 Options

In this article, we’ll share with you the top 10 options for financial aid for MS in Finance. Get ready to kickstart your finance career without breaking the bank!

1. Scholarships 

Scholarships are financial awards that do not need to be repaid. They are based on academic merit, financial need, and/or other criteria. (Such as leadership potential, community involvement, or diversity.)

Some popular scholarships that you can apply to for financial aid for MS in Finance include:

Name of Scholarship

Description

Eligibility

Application Deadline

Amount of Scholarship Available

Fulbright-Nehru Master’s Fellowships

For pursuing a master’s degree in any field in the US, including finance

Indian citizens with an undergraduate degree

July – October annually

Full funding for tuition, travel, and living

Inlaks Shivdasani Foundation Scholarships

For pursuing a master’s degree in the US, UK, or Europe in various fields, including finance

Indian citizens with a strong academic record

April – October annually

Up to $100,000

Aga Khan Foundation International Scholarship

For pursuing a master’s degree in various fields, including finance, at top universities in the US, UK, and Europe

Indian citizens with a strong academic record

March 31 annually

Full funding for tuition, travel, and living

The Narotam Sekhsaria Foundation

For pursuing postgraduate studies, including finance, at top institutions around the world

Indian citizens under 30 years of age

Varies

Up to INR 30 lakhs

Cargill Global Scholars Program

For pursuing a degree in finance or a related field at a partner university

Students from selected countries, including India

Varies

Up to $10,000 per year

Now, according to data only 12% of students received merit-based educational scholarships.

Scholarships in India

Source

Thus, it is best that you also explore other options to fund your MS in Finance degree in the US. 

2. Fellowships and assistantships

As an MS in Finance student, you can work part-time as a research or teaching assistant. With fellowships and assistantships, you can receive tuition waivers as well as stipends. 

 

Fellowships

Assistantships

Definition

Financial awards given to graduate students to support their education and research without an expectation of work in exchange.

Financial awards are given to graduate students in exchange for their work as teaching or research assistants, which may involve teaching, grading, or assisting with research.

Work

No work is required.

Work is required as part of the award.

Funding

Can be funded by a university, private organization, government, or foundation.

Usually funded by the university or department.

Application

Applications are usually submitted directly to the organization providing the fellowship.

Applications are usually submitted to the university or department offering the assistantship.

Benefits

Can provide full or partial tuition coverage, living expenses, and/or stipends.

Usually provides a stipend, partial or full tuition coverage, and health insurance.

Duration

Can be one-time or renewable for a specific period of time.

Can be one semester or for the duration of the program.

Eligibility

Based on academic achievement, research interests, and other criteria .

Based on academic achievement and work experience.

Use

Often used to support independent research or other academic pursuits.

Often used to support teaching or research activities.

Award Amounts

Depends on the organization providing the fellowship and the field of study. Can range from a few thousand dollars to full tuition coverage and stipends

Stipend depends on the department and university. But usually enough to cover living expenses.

3. Loans

Education loans are financial awards that must be repaid with interest. They can be a great source of funding for students unable to secure other forms of aid.

Other than banks, NBFCs are also increasingly contributing towards overseas education loan disbursement. Especially for MS courses.

Source

4. Employer Tuition Assistance

Many companies offer tuition reimbursement programs to employees pursuing MS in Finance. So if you are already employed, it is worth checking with HR if you can get financial aid for higher education.

5. Private Loans

Private lenders offer student loans to graduate students. Typically, these loans have higher interest rates than regular loans. But these come with more flexible repayment terms.

6. Crowdfunding

Crowdfunding platforms can also help you raise funds for MS in Finance in the US. It’s a good option if you have a compelling story to tell. 

Top crowdfunding platforms where Indian students can raise funds include GoFundMe, ImpactGuru, and Indiegogo.

7. Professional Associations and Organizations

Several financial institutions offer scholarships, grants, or other forms of monetary assistance to members pursuing a graduate degree in Finance. Some such associations and organizations include:

This program provides a summer internship and a scholarship to students interested in pursuing a career in finance, including MS in Finance.

8. University Scholarships & Assistantships

Universities often offer their own scholarships and grants based on merit, need, or diversity. These can be competitive but worthwhile.

Here are the top 5 university-provided scholarships for MS in Finance aspirants.

1. Baruch College (City University of New York)

Students pursuing an MS in Finance at Zicklin School of Business, Baruch College, can apply for the graduate assistantship and be paid $18/hour for 80 hours. 

Find the complete eligibility requirements and application procedure here.

The college also providers information about other sources of income for students, which can help relieve some of the financial burden.

Source

2. Miami Herbert Business School

Miami Herbert Business School automatically considers graduate applicants for merit-based scholarships upon admission, and no separate application is required.

Find more details available about available scholarships and fellowships here.

3. Brandeis International Business School

Brandeis International Business School provides merit-based scholarships to highly qualified full-time and part-time domestic and international students as part of the admissions process.

Explore the available scholarships here.

4. University of Maryland, College Park

Other than offering a lot of advice and guidance to International students, the University of Maryland also helps students find the right scholarships, grants, and opportunities.

Further, they have a Student Crisis Fund as well.

The Student Crisis Fund supports the financial wellness and personal well-being of students who face a crisis that negatively impacts their ability to continue their education. The fund provides a one-time award of up to $500 for verified crises and does not offer ongoing relief. It is funded by donations and is managed by the Dean of Students Office.

Source 

5. University of Central Florida

UCF College of Business provides scholarships for undergraduate and graduate students every year. The scholarships are awarded for academic achievements, campus/community involvement, and financial needs. 

College of Business students can apply for scholarships through A2O, a system that matches students with scholarships based on their qualifications. A2O provides access to scholarships specifically for business students and other scholarships across campus and externally. Students must complete the A2O application once a year and check the system periodically for added scholarships.

9. Part-time work

Part-time work can help students earn money to pay for tuition and living expenses while gaining valuable work experience. 

However, for Indians studying MS in Finance in the US, there are certain restrictions as to what kind of work they can do. 

Here’s what you should remember while looking for part-time opportunities:

  • You are allowed to work only on-campus for a maximum of 20 hours per week while school is in session.
On-Campus Employment

Source

  • During official school breaks, such as summer or winter break, Indian students are allowed to work off-campus for up to 40 hours per week.
  • Off-campus work must be related to the student’s field of study and approved by the international student office at the university.

10. Personal Savings and Family Support

Using personal savings or receiving financial support from family can help reduce or eliminate the need for loans or other forms of financial aid. It’s a reliable but limited option.

Choosing The Right Financial Aid For MS in Finance

The right financial aid for MS in Finance is crucial in shaping your financial future. Consider these factors when making your decision:

  • Duration of the program and cost of living expenses in the area
  • The flexibility of repayment options for loans, such as income-driven repayment plans
  • Opportunities for networking and career advancement through university programs or industry connections
  • Specializations offered by the program that aligns with your career goals and interests

With all the information right in front of you, it’s time to fund your MS in Finance in the US dreams. Get started today and soar towards success.

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Financial Aid for MS in Data Science: Your Top 10 Options

Top 5 Financial Aid Options for MS in Data Science in the US

Top 5 Financial Aid Options for MS in Data Science in the US

48,000 US dollars!

That’s the average tuition fee for an MS in Data Science in the US.

Yeah! It’s a lot of money.

Financial Aid for MS in Data Science: Your Top 10 Options

But before you give up, take a look at the bigger picture.

The highest-paid data scientist earns $130,770, while the lowest-paid makes $77,620 annually. So, you will earn back what you paid within one year of securing a job in the US.

Okay, your concerns are valid.

Will I get a job in the US? And will my degree be recognized if I return to my home country?

Here are your answers:

Source: What international students overall say about their US degree.

  • 76% of Indians secure full-time employment in the US.
  • 74% of Indians find jobs in India after studying in the U.S.

So, a US degree won’t be a wrong decision. 

But if you’re wondering how to handle the hefty tuition fees, this article is your GOLDMINE. You’ll discover 5 financial aid options for MS in Data Science in the US.

Stick around till the end for some bonus tips!

In a hurry? Here’s financial aid for MS in Data Science at a glance:

  1. Scholarships
  2. Assistantships
  3. Fellowships
  4. Student Loans
  5. Work-Study Programs

Ready to uncover the gold, one piece at a time? Here you go!

1. Scholarships

The basics: Scholarships are financial awards that will help you pursue higher education. They can cover partial or full tuition, living expenses, and sometimes additional costs.

You get scholarships based on academic merit, community involvement, leadership, or a combination of all these factors.

Finding scholarships:

  • University-specific scholarship: Check the websites of your target universities for graduate student scholarships or Data Science scholarships.
  • Online portals: Use online websites like to find scholarships. 
  • Indian Government Websites: Check government websites like the Ministry of Human Resource Development to find government-funded scholarships.
  • Private Organizations and Trusts: Look into scholarships offered by Indian organizations and trusts such as Tata Trusts, Inlaks Scholarships, and Narotam Sekhsaria Foundation.
  • US-India Educational Foundation (USIEF): Visit the USIEF website for information on scholarships and fellowships for Indian students studying in the US.

How to get:

  • Find eligibility criteria and shortlist the MS in Data Science scholarships you are eligible for. 
  • Submit a well-crafted application, including a personal statement highlighting your achievements, goals, and how the scholarship will help you.
  • Get letters of recommendation from authority figures like professors, or mentors,
  • Submit all documents before the deadline.

Our expert suggestion for financial aid for MS in Data Science:

  1. WPI International Need-Based Scholarship
  2. American University Scholarship
  3. American Association of University Women Scholarship
  4. Aga Khan Foundation International Scholarship Programme
  5. Narotam Sekhsaria Scholarship for Higher Studies

2. Assistantships

Research assistantship at NJIT

Source: Research assistantship at NJIT

The basics: Assistantships are part-time employment opportunities for graduate students within the university. 

There are Research Assistantships, where students work in research, and Teaching Assistantships, where students assist a professor.

Assistantships offer financial support, typically in the form of a stipend and tuition remission. It also gives hands-on experience in your field of study and helps develop professional skills. 

Finding assistantships:

  • University websites: Browse the websites of the universities you’re interested in. Specifically, search for financial support for Data Science. 
  • Departmental resources: Contact the Data Science department for information on available assistantships.
  • Faculty members: Contact potential advisors or faculty members in your area of interest. 
  • Networking: Connect with current or former students from the university who can help you find assistantship opportunities.

How to get:

  • Apply early, as many universities have specific deadlines for assistantship applications.
  • Highlight any research or teaching experience you have in your application. It will increase your chances of securing an assistantship.
  • Prepare a strong CV highlighting your skills, academic achievements, and experience relevant to the assistantship.
  • Get ready for interviews(if asked) by reviewing your experiences, accomplishments, and the responsibilities of the assistantship role.

Our expert suggestion for financial aid for MS in Data Science:

  1. The City University of New York offers full-time students in good academic standing, with in-state tuition coverage and tiered roles with varying service hours.
  2. Worcester Polytechnic Institute offers Teaching Assistants (TAs) and Research Assistants (RAs) positions, typically requiring a 20-hour per week commitment.
  3. New Jersey Institute of Technology offers teaching and research assistantships that provide part-time work opportunities for students, with around 400 positions available annually.

3. Fellowships

The basics: Fellowships are merit-based financial awards that will cover your tuition fees, along with a stipend for living expenses.

It will help you to focus on your studies or research without needing to work. They are provided by universities, research institutions, or private organizations as master’s degree funding.

Finding fellowships:

  • University websites: Explore the master’s degree funding and department pages of universities you’re interested in.
  • Research institutions and private organizations: Check their websites for fellowship opportunities in your field of study.
  • Online databases: Websites like ProFellow, or  Fellowship Finder can help you search for fellowships based on various criteria.
  • Indian organizations and government: Some Indian organizations or government bodies may offer fellowships for students pursuing higher education abroad.

How to get:

  • Eligibility criteria: Ensure you meet the eligibility requirements for the fellowships you’re applying to. It can be academic merit or a specific research focus.
  • Strong application: Submit a well-crafted application highlighting your achievements, research interests, and goals.
  • Research proposal: Many fellowships require a research proposal, which should be well-structured, clear, and demonstrate the significance of your research.
  • Recommendation letters: Request letters of recommendation from professors or mentors who can affirm your skills and potential.

Our expert suggestion for financial aid for MS in Data Science:

  1. AAUW International Fellowships
  2. S.N. Bose Scholars Student Exchange Program

4. Student Loans

The basics: Student loans are funds borrowed by students to cover tuition and living expenses while pursuing higher education.

They can be offered by federal or private institutions and need to be repaid, usually with interest, over a specified period.

Finding student loans:

  • Private loans from US lenders: Some US-based lenders offer private loans to international students. Examples include Prodigy Finance, MPOWER Financing, and Discover.
  • Online bidding platforms: It is an alternative student loan option where lenders compete to provide student loans with the most favourable terms and interest rates.
  • Home country loans: Indian banks and financial institutions, such as SBI, HDFC Credila, and Avanse, offer educational loans for Indian students studying abroad.

How to get:

  • Eligibility: Check the eligibility criteria for various loan programs, including credit history, income requirements, or having a cosigner.
  • Compare loan terms: Compare interest rates, repayment terms, and other conditions across different loan providers.
  • Documentation: Gather necessary documents, such as admission letters, proof of identity, and financial statements.
  • Apply: Submit loan applications to the lenders of your choice and follow their specific application procedures.

5. Work-Study Programs

The basics: Work-study programs are part-time employment opportunities for eligible students. They allow you to earn money and make payments for your education while gaining work experience.

Finding work-study programs:

  • University job portals: Many universities have job portals listing work-study opportunities.
  • Campus departments: Visit various campus departments, such as libraries or administrative offices, to inquire about available work-study positions.
  • Off-campus employers: Some work-study programs partner with off-campus employers. Check with your department of financial support for Data Science related opportunities.

How to get:

  • Eligibility: Ensure you meet all the criteria for work-study programs, which may include financial need or academic performance.
  • Apply for financial aid: Submit the required financial assistance application, such as IWS or CSS Profile, depending on the university.
  • Search for positions: Browse available work-study positions on your university’s job portal or through campus departments.
  • Apply for jobs: Submit job applications to the relevant departments or employers, including your resume and other required documents.

Our expert suggestion for financial aid for MS in Data Science:

  1. WPI offers on-campus part-time job opportunities where you can typically earn $1,500 to $2,500 per academic year.
  2. NJIT offers degree-seeking students work-study programs in academic departments, administrative offices, and community-service initiatives that can reduce their education expenses.

As we wrap up this guide, let’s not forget some additional strategies that can be financial support for your Data Science journey.

Bonus Tips:

  • Tuition waivers or discounts: Some universities may offer tuition waivers or discounts for eligible students based on merit or financial need.
  • Internships: Gain valuable work experience and cover living expenses by securing internships during your studies.
  • Sponsorships: Research and apply early for sponsorships from private companies, organizations, or foundations supporting students in specific fields.

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Financial aid for MS in Business Analytics: Your top 10 options

Financial aid for MS in Business Analytics: Your top 10 options

Financial aid for MS in Business Analytics: Your top 10 options

Studying a Master of Science in Business Analytics degree in the USA can be a brilliant choice for students from India.

These courses offer high-paying jobs for students adept at quantitative reasoning. Moreover, till now, this is a sunrise sector. At the moment suggests the market is growing and needs to recruit more talent.

Financial aid for MS in Business Analytics: Your top 10 options

Courses in business analytics can provide a significant advantage in the highly competitive job market.

 In this article, we will closely examine the Master of Science in Business Analytics course and explore the available financing options. Additionally, we will delve into the various universities in the USA and their support in securing funding for students.

Master of Science in Business Analytics in the USA: Top 10 Financing Options

1. Scholarships

Scholarships are awarded based on merit and do not have to be repaid. There are many different scholarships available for international students.

Here are some of the most important ones for those pursuing Master of Science in Business Analytics:

i. Fulbright Foreign Student Program

Website

Fulbright Foreign Student Program

Source 

The Fulbright Foreign Student Program is a prestigious scholarship program that allows foreign students to study and conduct research in the United States. 

Eligibility Criteria:

        • Applicants must be citizens of a foreign country and have completed their undergraduate education.
        • They should have excellent academic and English language skills.
        • Applicants must meet the specific eligibility requirements of their home country.

Application Process:

        • Interested applicants should contact the Fulbright Commission or the U.S. Embassy in their home country for more information about the program and the application process.
        • Applicants must submit an application, which includes personal information, academic transcripts, and letters of recommendation.
        • They must also write a research proposal or a statement of purpose explaining their research interests and career goals.

Application Deadlines:

The application deadlines vary by country, but typically fall between February and October for the following academic year. For example, for the 2024-2025 academic year, the deadline for India is July 15, 2023.

Benefits:

        • The Fulbright Foreign Student Program provides funding for tuition, fees, and living expenses.
        • It also provides health insurance and travel allowance.
        • Scholars receive support from the program staff to help them adjust to life in the United States and succeed in their academic pursuits.
        • Scholars have the opportunity to study at some of the most prestigious universities in the United States and conduct research in their field of interest.
        • Scholars can also participate in cultural exchange activities and meet people from different parts of the world.

ii. Narotam Sekhsaria Foundation Scholarships

Website

Narotam Sekhsaria Foundation Scholarships

Source 

The Narotam Sekhsaria Foundation Scholarships is a scholarship program that provides financial support to Indian students pursuing postgraduate studies abroad. 

Eligibility Criteria:

      • Applicants must be Indian citizens residing in India.
      • They should have completed their undergraduate education in India.
      • Applicants should have a consistently good academic record.
      • They must have secured admission to a full-time postgraduate program in any field of study at a top-ranked university abroad.
      • They should be 30 years of age or younger.

Application Process:

      • Interested applicants should visit the website to check the eligibility criteria and download the application form.
      • Applicants must submit the completed application form, along with the required documents, such as academic transcripts, letters of recommendation, and admission letter from the foreign university.

Shortlisted candidates will be called for an interview.

Application Deadlines:

The application deadlines for the scholarships vary depending on the course and institution of study, but generally fall between January and March for the academic year starting in August/September. For example, for the 2023-2024 academic year, the deadline for courses in India is February 28, 2023 and for courses abroad is March 31, 2023.

Benefits:

      • The Narotam Sekhsaria Foundation Scholarships provides financial support to cover the tuition fees, living expenses, and travel expenses for the entire duration of the postgraduate program.
      • Scholars will also receive a one-time grant for purchasing books and study materials.
      • The scholarship also provides mentorship support to scholars throughout their academic journey.
      • Scholars will be invited to attend events and conferences organized by the Narotam Sekhsaria Foundation, providing them with opportunities to network and learn from other scholars.

iii. Aga Khan Foundation Scholarship

Website

Aga Khan Foundation Scholarship

Source 

The Aga Khan Foundation Scholarship is a scholarship program that provides financial assistance to students from developing countries who wish to pursue postgraduate studies. 

Eligibility Criteria:

      • Applicants must be residents of one of the countries where the Aga Khan Foundation has a presence (check the website for the list of countries).
      • They must have a strong academic record and demonstrate potential to make significant contributions to their home countries.
      • Applicants should have no other means of financing their postgraduate education.
      • They should be admitted to a reputable university for a master’s or doctoral program in any field of study.
      • They should be 30 years of age or younger at the time of application.

Application Process:

      • Interested applicants should visit the Aga Khan Foundation website to check the eligibility criteria and download the application form.
      • Applicants must submit the completed application form, along with the required documents, such as academic transcripts, letters of recommendation, and admission letter from the university.
      • Shortlisted candidates will be called for an interview.

Application Deadlines:

The application deadlines for the scholarship vary by country, but generally fall on March 17 for the academic year starting in August/September12. However, some countries may have earlier internal deadlines for pre-application forms or distribution of application forms. Applicants should contact the local office in their country of residence for specific instructions and deadlines.

Benefits:

      • The Aga Khan Foundation Scholarship provides financial support to cover the tuition fees, living expenses, and travel expenses for the entire duration of the postgraduate program.
      • Scholars will also receive a one-time grant for purchasing books and study materials.
      • The scholarship also provides mentorship support to scholars throughout their academic journey.
      • Scholars will be invited to attend events and conferences organized by the Aga Khan Foundation, providing them with opportunities to network and learn from other scholars.
      • You must try for scholarships at your university. Worcester Polytechnic Institute (WPI) for example offers scholarships that range from $1,000 to $4,000 for MSBA programs. You could receive up to $20,000 for the Dean’s Fellowship.
      • Many schools make available funds from private bequeaths such as the Kendall Family scholarship at University of Maryland, College Park.

2. Fellowships

A fellowship is a type of financial support awarded to individuals to pursue a specific academic or professional goal, such as research, study, or training. Fellowships are typically awarded on a competitive basis and can be sponsored by a variety of organizations.

Fellowships can provide funding to cover tuition, living expenses, and research expenses, and can vary widely in scope.

Difference between Scholarship and Fellowship

To be honest, they are used interchangeably. But in their original sense, there are a few differences.

Here are some of them:

    • A scholarship for pursuing a Master of Science in Business Analytics is usually for undergrad and graduate students to cover their school expenses. A fellowship is usually for graduate students or research scholars to pursue advanced studies or research.
    • A scholarship always comes with financial aid, but a fellowship may or may not include monetary support. A fellowship may also include an internship or a service engagement for the student.
    • A scholarship can be merit-based, need-based, or category-based, depending on the criteria set by the granting organization. A fellowship is only merit-based and requires some form of achievement or potential in the chosen field.
    • A scholarship lasts for at least a semester, but a fellowship can vary in duration depending on the scope of the work. Some fellowships are renewable, while some are one-time awards.

These are some of the general differences between a scholarship and a fellowship.

You should always check the specific terms and conditions of each grant before applying.

i. AAUW International Fellowships

Website

AAUW International Fellowships

Source 

The AAUW International Fellowships is a scholarship program that provides financial support to women from around the world who wish to pursue postgraduate studies in the United States. 

Eligibility Criteria:

        • Applicants must be women who are not U.S. citizens or permanent residents.
        • They should have a strong academic record and demonstrate potential to make significant contributions to their home countries.
        • Applicants should be admitted to a full-time postgraduate program in any field of study at a U.S. university.
        • They should intend to return to their home country to pursue a professional career.
        • Applicants must have proficiency in English.

Application Process:

        • Interested applicants should visit the AAUW International Fellowships website to check the eligibility criteria and access the online application portal.
        • Applicants must complete the online application form and upload the required documents, such as academic transcripts, letters of recommendation, and proof of admission to a U.S. university.
        • Shortlisted candidates will be called for an interview.

Application Deadlines:

The application opens on August 1 every year and closes on November 15 every year. The notification of decisions is emailed to all applicants on April 15 every year. The fellowship year runs from July 1 to June 30.

Benefits:

        • The AAUW International Fellowships provide financial support to cover the tuition fees, living expenses, and travel expenses for the entire duration of the postgraduate program.
        • Fellows will also receive a one-time grant for research and travel expenses related to their studies.
        • The fellowship also provides mentorship support to fellows throughout their academic journey.
        • Fellows will be invited to attend events and conferences organized by the AAUW, providing them with opportunities to network and learn from other fellows.

ii. Hubert H. Humphrey Fellowship Program

Website

Hubert H. Humphrey Fellowship Program

Source 

The Hubert H. Humphrey Fellowship Program is a Fulbright program that brings accomplished young professionals from developing countries to the United States.

Eligibility criteria:

    • Open to experienced professionals from eligible countries in various fields.
    • Applicants should have at least five years of professional experience and a bachelor’s degree or equivalent.
    • Demonstrate leadership qualities and a commitment to public service.
    • Have sufficient English proficiency.
    • Should not have recent U.S. experience or a dual U.S. citizenship or residency.

Application process:

    • Submit an online application.
    • Submit academic transcripts, English language test scores, a statement of purpose, a detailed curriculum vitae or resume, and letters of recommendation.
    • Supplementary materials may be required depending on the field of study.

Application deadline:

The application deadlines vary by country but are usually between May and September each year. Applicants should check with the Fulbright Commission or U.S. Embassy in their country for specific dates. The notification of decisions is emailed to all applicants in March or April every year. The fellowship year runs from August to June.

Benefits:

    • Provides tuition and fees at the host university, a monthly living stipend, round-trip international airfare, health insurance, and funding for professional activities and enrichment experiences.
    • Opportunities to participate in professional development activities and engage with other Humphrey Fellows and professionals in the field
    • Access to the Humphrey Fellows Global Network and alumni community

3. Grants

Grants are a form of financial aid that does not need to be repaid. 

Whereas scholarships are based on merit, grants are based on need. It is best to see it as an education subsidy for those who are economically weaker.

If you are eligible for a grant, you would learn that after admission. Since it is a disbursement from the Federal or local government, your enrollment depends on your admission, and arrival in the USA. 

Schools like Brandeis International Business School offer deserving students automatic grants based on their needs.

i. Pell Grant

It is the most well-known and provided by the U.S. government to college and university students. The maximum award currently is around $6500.

To avail, you have to demonstrate financial need by completing the Free Application for Federal Student Aid (FAFSA).

ii. FSEOG

The Federal Supplemental Educational Opportunity Grant (FSEOG) is an amount awarded to students who demonstrate exceptional financial need.

Awards can range from $100–$4,000 and do not need to be repaid.

To apply for an FSEOG, you need to submit your Free Application for Federal Student Aid (FAFSA) as soon as possible each year.

 

4. Assistantships

Assistantships are positions offered by universities or other institutions to graduate students that involve working as a teaching or research assistant.

In a teaching assistantship, the student works with a professor to assist with teaching responsibilities such as grading assignments, or helping lab sessions.

In a research assistantship, the student works with a professor or other researcher on a research project, assisting with tasks such as data collection, analysis, and manuscript preparation.

When searching for these, we came across many that were surprisingly supportive of their students.

Baruch College offers graduate assistantships that provide opportunities to work as a teaching, research, or administrative assistant. Students receive a stipend and tuition remission for their service. Graduate teaching assistants are paid $18 per hour and can work for a maximum of 80 hours.

 

5. On-Campus Employment

On-campus jobs are usually limited, so you should not rely on them as your main source of income.

Moreover, if you are studying MSBA in the US, there are legal restrictions on how many hours you can work.

F-1 students may work on-campus for up to 20 hours per week during the academic year and full-time during vacation. The work must be on the school’s campus and must be related to the student’s field of study.

College of Staten Island (City University of New York) has a dedicated page that helps students seek on-campus employment.

On-Campus Employment

Source 

6. Off-Campus Employment

Part-time work off-campus can help you earn some money to cover your living expenses or personal needs.

i. Curricular Practical Training (CPT) 

This program allows F-1 students to work off-campus for a specific employer as part of their academic program. The work must be directly related to the student’s field of study and the student must receive academic credit for the work. In other words, an internship. Miami Herbert Business School has a page for connecting students with internship opportunities. 

ii. Economic Hardship Clause 

F-1 students who experience unforeseen economic hardship may be eligible for off-campus employment authorization for up to 20 hours per week during the academic year.

 

7. Education Loans

You could raise a loan from the bank for your MSBA degree. Of course, it needs to be repaid with interest. 

Loans can be obtained from various sources, such as banks, and financial institutions.

Educational loans may have different eligibility criteria, interest rates, repayment terms, and collateral requirements depending on the bank. 

8. Family support

Your parents or siblings or relatives can help sponsor your education. They can help you ease your financial burden and focus on your studies.

Anecdotal evidence suggests that a large number of Indian students receive help from close relatives. 

9. Savings

If you have saved from your previous earnings or have investments it can help further your education. 

The biggest part is it can help you reduce your dependence on external sources of funding and plan your budget accordingly. You are not dependent on the government, any institution, or a sibling. 

However, this requires careful management of what you have earned previously.

Savings

Source 

 10. Crowdfunding

You can receive help using online platforms or social media by appealing to potential donors who share your interests or goals. They can help you fund a specific project or cause related to your education. 

However, they may not be easy or guaranteed and may require a compelling story and effective marketing.

Wrapping Up 

Scholarships, fellowships, grants, assistantships, and part-time employment are all options that can help students from India finance a Master of Science in Business Analytics . 

Each type of financial support has its own eligibility requirements, benefits, and limitations. 

You should carefully research and evaluate all the options to determine the best fit for your needs.

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