Hey!
I’m an US citizen residing in Ethiopia with Ethiopian parents. I’m planning on going to the States for university. My parents have a relatively high income and could pay for university without too much trouble but the issue here is that Ethiopia suffers from very low foreign currency reserves and they have very strict foreign currency exchange policies, making it impossible to get money to pay tuition legally here in Ethiopia. Would universities take this into account when evaluating my application?
So, your parents have the money but can’t spend large amounts outside Ethiopia (what is the monthly or yearly limit)?
Do your parents have any banking/investment accounts that are not in Ethiopia?
Is your dad’s employer a U.S. company?
So only you are a U.S. citizen, not your parents?
Call the American Consulate in Ethiopia and find out how others in your situation have handled it.
Could your parents take out Parent PLUS Loans for your education?
“So, your parents have the money but can’t spend large amounts outside Ethiopia (what is the monthly or yearly limit)?”- In Ethiopia, you can exchange $5,000($10,000 if you know ppl) worth after purchasing an airplane ticket and proving that you’re leaving the country. It gets stamped into your passport.
"Do your parents have any banking/investment accounts that are not in Ethiopia?- No
“Is your dad’s employer a U.S. company?”- No, my dad runs his own business.
“So only you are a U.S. citizen, not your parents?”- Yeah, my mom was staying with family in the States around the time she was pregnant with me and thought that I’d get better opportunities as a US citizen.
http://www.parentplusloan.com/plus-loans/glossary.php
For info on eligible Non-US citizens and Plus Loans.
(Waiting for reply on whether student’s parents are U.S. citizens).
They’re not US citizens
They wouldn’t be able to take out loans, because they’re not US citizens nor do they have residency or pay taxes there.
Sorry, but schools are not going to give your family need-based aid if they’re affluent but the country has rules about money. Students from your country go to college elsewhere. Find out how they pay.
besides, there aren’t a lot of schools that meet need anyway. Likely your parents would have to pay a good bit no matter what.
That is a tough situation. I am Ethiopian btw. You should just apply for financial aid and see how much that would be. If everything else doesn’t work out you should have a relative abroad handle the delivery of the money to the schools and you give your relative the money. In Ethiopian Birr. I faced the same problem with application fees.
Ask these guys: