Tag Archives: money


Author: Institute of International Education

In response to many inquiries from all over the USA, Albania, and elsewhere, Frosina is pleased to make the following information available about funding sources for higher educational purposes in the USA for foreign nationals:

Funding for US Study: A Guide for International Students and Professionals is a comprehensive reference source on financial assistance available for foreign nationals to pursue educational objectives in the US. The book was compiled by the Institute of International Education, the largest US higher educational exchange agency. The Institute is a nonprofit organization with over 600 US college and university member organizations.

The book provides information on agencies that offer awards for foreign nationals to study, teach, carry out research or pursue other educational objectives in the US. Funding for US Study offers the most relevant data on over 600 fellowships, grants, travel grants, scholarships and paid internships geared to all levels of post-secondary education and research: undergraduate, graduate/postgraduate, postdoctoral and professional.

Funding for US Study is intended to be an informational resource on scholarships, grants and fellowships available from public and private sources in the US and abroad: governments, foundations, corporations, associations, research centers, libraries and other agencies.

Foreign nationals may apply directly to these grant and fellowship programs if they meet eligibility requirements. Typically, these grant programs do not require special nomination by home governments, institutions or international organizations. Programs of this type exist, but they are not the focus of this book, which is intended to identify grants and fellowships that are generally accessible to foreign nationals.

Copies of this important reference book, Funding for US StudyA Guide for International Students and Professionals, are available in larger public and academic libraries and, generally, in USIA/US Embassy offices overseas. To learn where to find access to the book if it is not at a convenient location in your area, or to make specific inquiries, contact:

Institute of International Education
809 United Nations PlazaNew York, NY 10017-3580Tel: (212) 883-8200Fax: (212) 984-5452WebSite: www.iie.org

Financial-Aid Sources for Higher Education

Author: TIME Magazine

Frosina receives many inquiries from Albanians and others about college/university financial-aid policies and procedures. For more information about the process, check your local library where you will find compendiums of grants, loans and scholarships. Listed below are some websites and books you may find helpful:


  1. www.fastweb.com Fill out a personal profile, and FastWeb matches you up with scholarships from its database of hundreds of thousands of awards, updated daily.
  2. www.wiredscholar.com Lots of info about aid – including loans you can apply for on-line. Also a database listing sources for more than $1 billion in scholarship funds.
  3. www.finaid.com Loads of advice and free, searchable databases.
  4. www.ed.gov/prog_info/SFA/StudentGuide Posted by the U.S. Department of Education, the Student Guide provides information from the horse’s mouth about federal grants, loans and work-study.
  5. www.petersons.com/resources/finance.html The college- and career-guide publisher offers a free online cram course in financial aid.
  6. www.fafsa.ed.gov Do the paperwork without the paper. Fill out your Free Application for Federal Student Aid (FAFSA) online.
  7. www.collegeboard.org Save the cost of another stamp. If a school you’re applying to requires the College Scholarship Service’s Profile application for financial aid, you can file the forms online.
  8. www.collegecash.com Offers a useful list of WebSites that provide scholarships, financial aid, scholarship books, college information, job-hunt info, etc.


  1. Meeting College Costs College Board: $13.95. This unintimidating little guide is user-friendly, anecdotal and vastly informative.
  2. College Costs & Financial Aid Handbook College Board; $17.95. A primer on financial aid, with a list of colleges that offer scholarships for talents ranging from art to athletics.
  3. Complete College Financing Guide by Marguerite J. Dennis; Barron’s; $14.95. Practical and up-to-date with samples of forms you’ll soon become all too familiar with.
  4. Paying for College Without Going Broke by Kalman A. Chany; Princeton Review; $18. Financial aid is no laughing matter, but this guide offers a dose of humor along with serious advice for managing the costs of college.

Albanian and Other Newcomers to America Should Beware of Easy Credit

From: “Easy Credit: A Wall Around the Poor” by Fred Waddell, The New York Sunday Times

Reliance on credit cards and other forms of credit can mean paying nearly an extra 20 percent to live. Poor people and others who rely heavily on credit would be outraged if retailers directly attached a 20 percent surcharge to every purchase they made with a credit card. Yet this is exactly what they are doing themselves with interest payments. The burden becomes even heavier with frequent, costly penalties and harsh collection practices that are often faced by people who have problems paying their debts.

Under the facade of the democratization of credit, lenders are expanding their business to borrowers with poor credit histories and to low-income, inner-city residents, who are often members of minority groups. Then, when the borrowers default on their loans, these same lenders are the first to call them deadbeats and to cry to Congress that bankruptcy laws should be changed to force them to pay their debts.

If a woman making $6 an hour accumulated credit card bills and other loans totaling just $9000 — not an unusual amount for a low-income consumer — she would have to work 300 hours during the year just to pay the interest on this credit, without reducing the amount owed by one cent. This means that someone working a 40-hour week would work 7.5 weeks in a year just to pay the interest on the debt.

What is needed is more education in money management and the use of credit — beginning with training for organizations and individuals who work with the poor. The poor and those who purport to serve them must understand that the issue is not the availability of credit at any cost, but rather the informed and educated use of it.