A look at budgeting and affordability for your international students. Presentation at NAFSA Region IV in Rapid City SD as part of the NAFSA regional conference in 2013
3. Overview
Case studies (10 minutes discuss, 5 minutes each group)
Evaluating costs
Affordability, recruitment & retention
Sources of funding
Interactive forum
4. Case Study Instructions
We will analyze 3 case studies of financial
hardship.
As a group, discuss the issues and how you
would address the problem. (10 minutes)
Each group share their findings
5. Case Study #1
A college offers its financial aid package to a new
student, knowing that it falls short of the students’ need
as stated on financial documents. He responds that he
can’t afford it, but the offer does not change. The
student pays the deposit required, and provides bank
statements showing sufficient funds available.
How much do you know about their financial
resources? Do you issue an I-20? Are there other
questions to ask?
6. Case Study #2
Morrison Kwong from China is a recipient of an
athletic scholarship. He will be arriving early on
July 15th before the semester begins. He will
also be participating in athletic practice during
this time.
What issues do you need to consider for this
students budget?
7. Case Study #3
An international student from Saudi Arabia
comes to your office saying that she doesn’t
have enough money to cover her books and
other classroom supplies. You remember
speaking to her three days prior and she had
purchased a new expensive car.
How do you guide this student and get her back
on the road to financial success?
11. Primary Sources of Funding
2011-2012
Personal and Family Funds
(63%)
U.S. College or University (23%)
Home Government/University
(6%)
Current Employment (5%)
U.S. Government (1%)
U.S. Private Sponsor (1%)
Foreign Private Sponsor (1%)
Other Sources (1%)
International Organization (0%)
Open Doors Report 2012
12. Tuition On The Rise
According to MSN, “college tuition has jumped by 500% since 1985”
14. Internal Sources of Funding
University’s scholarship and financial Aid
Academic
Scholarships
Athletic Grants
Emergency fund
15. Internal Sources of Funding
Northwestern College
Guaranteed
1/3 of tuition
Academic, Athletic, Artistic scholarships
International endowed scholarships
International Grant (need-based)
Limited emergency funds
17. Choosing a School
What is the student’s budget and what is your
school’s value proposition?
Rural v. Urban
Private v. Public
Community College v. Four-Year Institution
Financial Assistance v. Personal Funds
18. Bartering Educational Costs ?!?
Institutional Goal
Assisting
as many students as possible
within budget
Student/Family Goal
Getting
the best deal
19. Haggling or Straight Talk ?
Negotiation Process
Financial
disclosure – Declaration of Finances
Affordable?
Let’s make a deal!
High need? Need more data
CSS Financial Aid Profile:
http://student.collegeboard.org/css-financial-aid-profile
offer – Financial Certification Form
Award acceptance – signature, deposit, bank
statements
Award
20.
21. Forever & Always ?
Ideal = honest, full disclosure process that
never changes
Too bad – it’s an imperfect world
When
students know they don’t have enough
When students don’t know they don’t have
enough
When they had enough, but it’s not enough
anymore
24. Who Can You Turn To: Institutional Support
Alumni Association(s)
International Clubs
Involvement on campus can include mobilizing clubs to
raise funds for scholarships.
Student Organizations
Can your alumni associations help you develop a
scholarship fund?
Many schools have international organizations (like a
Chinese student association) – can they help?
Non-Profit Organizations
Religious Groups
Immigration Community
30. Budget Risk Factors
Exchange rate fluctuations
Interruption of funds (life changing event)
Inability to stick to a budget
Withdrawal of funds from sponsor
32. Interactive Forum
What award programs do you offer
international students at your school and how
do they work?
How much do you rely on these awards to
attract students?
33. Interactive Forum
How do you come up with estimated cost for
living expenses?
International
student survey?
Other statistics?
35. Interactive Forum
What are some challenges that your
international students face when it comes to
financial aid?
36. Thank you!
Apinant Hoontrakul
Kevin McMahan
Mililani Hayselden
ahoontrakul@envisageinternational.com
kmcmahan@nwciowa.edu.edu
Mililani.hayselden@park.edu
Envisage International
Northwestern College
Park University
224 First Street
208 8th St. SW
8700 NW River Park Dr
Neptune Beach, FL 32266
Orange City, IA 51041
Parkville, Mo 64152
(904) 247-1387 Ext 105
(712) 707-7016
(816)584-6831
Hinweis der Redaktion
Mililani or Kevin
Are you surprise that majority of international students funds their own education?