Financial Aid Guide for Bicultural Students

Special financial aid programs exist for bicultural students. If you are a bicultural student looking for grants or scholarships, there are several financial aid resources available. You can even find out what resources are available for your college expenses that are not covered by grants or scholarships.

Bicultural Scholarships

One way to secure financial aid is to apply for bicultural scholarships. The best place to start, in terms of relatively low competition, is to apply for any local scholarships offered by your school. Each college is different, but many donors like to donate merit-based and athletic scholarships that give preference to minority and bicultural students. Being bilingual can also be another requirement for some scholarships.

Two other resources to consider are Fastweb, which has a special section for bilingual scholarships, and Scholarships.com, which provides information on national and regional scholarships offered by private and non-profit organizations.

Other places to consider looking for scholarships include your employer or parent’s employer, civic groups, ethnicity-based organizations, or even local businesses like the Ronald McDonald House Charities scholarship. You may not find every scholarship in the online scholarship databases, so the extra work can be worth your while as there will most likely be a smaller application pool.

One final suggestion to search for scholarships is to look for internships. Many corporations are willing to offer internships and scholarships to minority and bicultural students to increase their diversity pools. One advantage of an internship scholarship is that you may have your first job lined up without attending the first job interview!

Each scholarship has different application requirements. As a general rule of thumb, you must be at least ¼ of the cultural background for the scholarship. Some bicultural scholarships are available to students of any college major. Others require a specific academic discipline such as social work or mathematics.

While it initially seems most scholarships are awarded to high school seniors who will attend college in the fall, other organizations may wait to distribute scholarships to current college students. If you have changed majors or improved your GPA since matriculating, you might also qualify for a scholarship that was previously out of reach.

Also look for community-based scholarships, such as from BestMattressReviews.com. The site is offering a $1,000 scholarship in an effort to give back to the community while also promoting sleep awareness. This scholarship is available to eligible HS seniors, current college students, and graduate students.

Bilingual Scholarships

One advantage of growing up in a bicultural family is that you may be able to speak two languages fluently. If you plan on using your language skills, you might able to qualify for additional scholarships.

One option is to apply for military ROTC scholarships that allow you to serve in the armed forces after graduation. If you are skilled in a critical language, you can also apply for the prestigious Fulbright Critical Language Enhancement Program in addition to a Fulbright grant, where you can spend three to six months in a foreign country to refine your skills.

Certain schools also offer scholarships to bilingual applicants when they decide to major in select academic disciplines.

State Grants

Another option is to receive a grant from your state to attend college. To start this application process, you will first need to submit the Free Application for Federal Student Aid (FAFSA) to determine your financial need. The state’s Department of Education receives the information from the U.S. Department of Education.

Every state has different grant programs. Wisconsin, for example, offers the Minority Undergraduate Retention Grant. Iowa offers minority academic grants that help bicultural students pursue their first undergraduate degree.

To find out if your state offers bicultural grants, visit your state Department of Education website for more information.

Federal Grants

If you demonstrate financial need, you may also qualify for federal Pell grants and work-study programs. Once again, you will need to submit the FAFSA each academic year to qualify for these funds. One advantage of qualifying for these aid programs is that you do not have to repay the money, unlike student loans.

These programs are not exclusive to bicultural students. However, they are an option to pursue in addition to scholarships and state grants. Plus, receiving federal aid is not contingent on whether or not you receive any scholarships or state grant money.

Student Loans Options

Another financial aid option is federal student loans. As part of your federal aid package, the U.S. Department of Education will allow you to qualify for federal student loans. If you demonstrate financial need, you can even qualify for subsidized direct loans. This means you are not responsible for the accrued interest while you are a full-time student. However, unsubsidized loans and non-federal student loans do accrue interest during school and during periods of deferment.

Loan Forgiveness Options

One advantage of choosing federal loans instead of private student loans is that you may qualify for income-based repayment plans. These can limit your monthly payment to 10% of your income. They can also forgive your remaining balance after 10 or 20 years of payments.

To qualify for the 10-year forgiveness option of the Public Service Loan Forgiveness (PSLF) program, you need to work for a local, state, or federal agency. Or, you can also qualify if you work for a non-profit 501(c)3 organization. You must remain employed a qualified employer for each of your 120 monthly payments.

The PSLF program can be just as valuable as any scholarships or grants that you might have received. This is because the college graduates that typically enroll in the PSLF program have high student loan balances and low salaries. Career fields that might require a bicultural background, such as social work or being a public defender, do not always have the highest salaries.

With Public Service Loan Forgiveness, you can use your background to help the general public without having to worry about making student loan payments for a large portion of your working career.