The first important aspect you need to be aware of is that there is no free education in the US – every university in the country will require you to pay some type of fee, whether it is for your undergraduate or postgraduate studies. Make sure to check the tuition fees section on the school’s official website while you are in the process of researching your options.
Fortunately, the American education system is designed in such a way that many business schools and universities provide scholarships and assistantships to talented students which then makes it possible to study for free. However, it is important to keep in mind that schools are usually looking for the brightest and most talented students for their scholarships in order to climb up the ranking tables. Institutions also try to diversify their portfolio and make their nationality mix as outstanding as possible because in the end, the level of diversity of the student body will affect its ranking as well.
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As you are watching the video, you may start to wonder what the difference between a scholarship and an assistantship is. While scholarships do not require any extra work from you, and allow you to just start studying thanks to the school’s financial support, an assistantship would probably mean that you will be working alongside your studies for around 10 hours per week. You could be helping a teacher during the lectures or participating in some kind of administrative work, for example.
The video also provides some numbers to illustrate the kind of scholarships and financial aid that some American schools offer. The University of Chicago, for instance, would provide USD 48,000 on average if you are awarded a scholarship. This amount would also help you cover some of your living expenses since the tuition fee at the school amounts to USD 45,000. Yale University offers USD 55,000 per year while Duke University can help you out with USD 53,000 per year if you are an outstanding performer.
In any case, the best option would be to ask the university itself about the financial aid they provide or to check the information on their website and make sure what the specific conditions are.
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