Scholarships and Financial Aid for Day 1 CPT Students

Updated by Leslie W on Apr 10, 2024

Scholarships and financial aid are extremely important to international students who wish to pursue their education and future careers abroad. For many international students, the cost of tuition and living expenses in a foreign country can be prohibitively high, making it difficult for them to pursue their academic and career aspirations. Although Day 1 CPT programs provide unique opportunities for international students to take on paid internships while studying, extra scholarships and financial aid can provide them with more support that they need to make their dreams a reality. Scholarships and financial aid can level the playing field for those who came from a developing country. Ultimately, scholarships and financial aid not only benefit individual international students but also contribute to a more diverse and inclusive academic community in the U.S. And that is why day1cpt.org has been working with many Day 1 CPT universities to urge them to establish more affordable Day 1 CPT courses while providing extra support to those who excelled academically.

Day 1 CPT Scholarship and Financial Aids

Need-Based Scholarships

A need-based scholarship provides financial assistance for students with financial need. It is not required to be repaid by students unless they withdraw from school or fail to meet their obligations. Such grants are available from a variety of federal, state, and institutional sources. Westcliff University also offers this type of financial aid.

Merit-Based Scholarships

Merit-based scholarships are awarded to students who have demonstrated outstanding academic achievement, athletic ability, artistic talent, or other exceptional qualities. These scholarships are not required to be repaid, and they are typically awarded through a competitive application process. Merit-based scholarships are provided by a variety of sources, including educational institutions, private organizations, corporations, and government agencies. The scholarship amounts can vary widely, from a few hundred dollars to full tuition and living expenses. Many Day 1 CPT universities that we partner with offer this type of scholarship. For further details, please keep reading. We have provided a comprehensive summary.

Paid Internships

Work-study programs allow students to earn money for their tuition through part-time jobs, available both on and off-campus. All Day 1 CPT universities offer such courses. To participate, you need to enroll in a CPT course and get CPT approval from your Designated School Official (DSO) before beginning any paid internships. There are specific requirements that must be met. For more information, please refer to our post titled "All about Day 1 CPT."

Monthly Payment Plan

Many Day 1 CPT students are able to find paid work in the United States without the need for substantial savings. Through a monthly payment plan, they can pay their tuition fees on a monthly basis after receiving their paycheck. However, not every Day 1 CPT university offers this option, as it can increase the administrative burden on their staffs. We are actively collaborating with some Day 1 CPT universities to help make this payment method more widely available to our students. Currently, institutions like Westcliff University, NEC, Trine University, and Saint Peter’s University have made this option available.

Here are lists of scholarships and financial aids available for students at several well-known Day 1 CPT universities.

Day 1 CPT Schools Scholarships

In the following, we would like to share all the Day 1 CPT schools that provide Scholarships for international students.

Monroe College

Westcliff University

CiAM

Sofia University

International Technological University

Sullivan University

Scholarship: Graduate Program Scholarship

Application Requirement: GPA 3.0+

Amount:

• GPA 3.0 + = $3000

• GPA 3.24+ = $3600

• GPA 3.5+ = $4500

Apply here: https://www.sullivan.edu/graduate-programs/scholarship

Dallas Baptist University

Application link: https://www.dbu.edu/ministry-guidance/scholarships/graduate.html

International Student Loans

A student loan serves as a means of helping students to pay for their higher education expenses. This type of loan requires repayment, generally with interest, once the borrower either graduates or reduces their course load below a specified threshold. Sources of student loans include governmental entities, private financiers, and educational institutions, with repayment terms and conditions differing based on the loan's nature and the lender.

Mpower Financing

Mpower Financing collaborates with investors and universities globally to offer financial products to international students, focusing on those with educational, specialized, and financial accomplishments.

• Website: Mpower Financing
• Services: Educational loans, immigration support, scholarships, job search assistance. Provides financing to international and DACA students studying in the U.S. and Canada without requiring a co-signer.
• Rating: 4.5/5 by Nerdwallet.
• APR: Fixed APR ranges from 7.52% to 14.98%.

Ascent

Ascent aims to empower students to maximize their potential, emphasizing education as a key to advancing to multiple levels and fields.

• Website: Ascent
• Services: Provides access to education for students of various economic backgrounds and disciplines.
  • Co-signed and Non-Co-signed Student Loans: Offers both co-signed and non-co-signed loans for undergraduate and graduate students, emphasizing access without a co-signer for eligible students.
  • Outcome-Based Loans: Provides loans based on future income potential rather than current financial standing or co-signer availability.
• Rating: 5/5 by Nerdwallet.
• APR: Fixed APR from 3.27% to 12.16%.

Lendkey

Lendkey enables borrowers to finance their educational goals with lower interest rates, sourced from a network of banks and credit unions.

• Website: Lendkey
• Services: Facilitates loans through a network of credit unions and banks, offering competitive rates and terms.
• Rating: 4.5/5 by Nerdwallet for Ascent, but Lendkey also has positive ratings.
• APR: Fixed APR ranges from 2.95% to 7.63%.

Prodigy Finance

Prodigy Finance assesses the potential of scholars using an advanced model, facilitating loans funded by alumni and investors who seek both financial and social returns.

• Website: Prodigy Finance
• Services: Specializes in funding international students who are often overlooked by traditional lenders.
  • Graduate Student Loans: Specializes in loans for international students pursuing graduate degrees, particularly in business, engineering, law, public policy, and health sciences. Loans are offered without requiring a co-signer, which is beneficial for students without local credit history or family support in the
  • U.S. Community-Funded: Utilizes funds collected from a community of alumni, institutional investors, and qualified private investors interested in supporting students.
• APR: Offers variable APR starting from 5.6%.

Stilt

Stilt provides loans in four simple steps, focusing on a holistic assessment of the student’s profile to cater specifically to international students.

• Website: Stilt
• Services: Simplified loan process tailored to the needs of international students.
  • Loans for Immigrants and Underserved: Focuses on providing personal loans to international students and working professionals who may have difficulty accessing traditional banking products due to their non-permanent resident status or thin credit files.
  • Visa Holder Loans: Offers specific loan products for holders of various U.S. visas, including F-1, OPT, H-1B, O-1, L-1, and TN visas.
• APR: Average APR starts from 7.99%.

Discover

Launched in 2007, Discover Student Loans assists students in financing their higher education through easy-to-access loans and flexible repayment plans.

• Website: Discover Student Loans
• Services: Offers a range of student loans with flexible repayment options. Charges no fees across the board, including no application, origination, or late fees, which is relatively rare in the student loan industry.
  • Undergraduate & Graduate Student Loans: Offers a range of loans tailored to students at different education levels, including specific programs for MBA, health professions, law, and more.
  • Student Loan Consolidation: Provides options for students to consolidate their private and federal student loans into one new loan with a single payment plan. Zero Fees: 
• Rating: 4.5/5 by Nerdwallet.
• APR: Fixed APR ranges from 4.24% to 12.59%.

If you have questions regarding scholarships or payment plans, you are welcome to contact us for a free consultation.

Day 1 CPT Scholarship Consultation