For those interested in scholarship opportunities above and beyond Tuck's scholarship program, we recommend that you begin your research as early as possible. State and local governments may also be sources of scholarship, grant, and/or loan information. Many employers, banks, and government ministries of education may offer assistance in the form of grants or loans. Try contacting your state department of education for details. We also suggest approaching your local fraternal organizations.
We encourage international students to investigate funding sources in their home country. Please note that some organizations—including the Fulbright Commission, COLFUTURO, the United Nations, and the Organization for American States (OAS)—offer scholarships to foster the professional development of international students.
For reference, additional resources for outside scholarships have been compiled in the guide below.
Cost of Attendance (COA): The total amount it will cost you to go to school per academic year, based on a nine-month budget. COA includes tuition and fees; room and board (or a housing and food allowance); and allowances for books, supplies, transportation, loan fees, and living expenses.
Expected Family Contribution (EFC): This is the number that’s used to determine your eligibility for federal student financial aid. This number results from the financial information you provide in your FAFSA® form, the application for federal student aid. Your EFC is reported to you on your Student Aid Report (SAR).
Federal Loans: A loan funded by the federal government to help pay for your education. A federal student loan is borrowed money you must repay with interest.
Financial Need: The difference between the cost of attendance (COA) at a school and your Expected Family Contribution (EFC). While COA varies from school to school, your EFC does not change based on the school you attend.
Free Application for Federal Student Aid (FAFSA): A financial aid application form you will need to complete in order to apply for federal and state student loans.
Institutional Loans: Loans obtained through the school that must be repaid.
Origination Fee: Fee paid to the lender to compensate them for the cost of administering the loan. Federal loans take out the origination fees as the loan is disbursed. A portion of this fee is paid to federal government to offset the administrative costs of the loan. Some private lenders also have origination fees and may take it out as the loan is disbursed or add it to the principal balance owed at repayment.
Private Education Loans: A nonfederal loan made by a lender such as a bank, credit union, state agency, or school that must be repaid. Certified by the school.
Scholarships/Fellowships: Money awarded to students based on academic or other achievements to help pay for education expenses. Scholarships generally do not have to be repaid.
Visit www.studentaid.gov for a comprehensive vocabulary list of terms.