For U.S. Education Professionals » Finances
Finances
Due to U.S. sanctions, students applying from inside Iran face many difficulties with financing their education and application for admission to a U.S. college or university.
· Making Payments: Iranian banks do not issue credit/debit cards nor facilitate wire transfers. Some students find a “middleman” who charges a commission to make the online payments for application fees on their behalf. These transactions are not issued through Iranian banks; rather they are done through banks in third countries or relatives and friends that are living outside Iran. Students without a “middleman” or contacts outside of Iran typically request that the U.S. institution waive their application fee. Later, when they have traveled to another country for their visa interview and stamp, they can transfer the money in order to pay the tuition and fees.
· Scholarships: Several U.S. universities have reported that students applying from Iran have been awarded a scholarship from the Ministry of Science, Research, and Technology. Currently, we cannot verify that these funds would be available to students choosing to study in the United States nor do we have any examples of students who have been admitted to U.S. institutions and have successfully paid tuition and fees through Iranian banks or with Iranian government sponsored scholarships. We are researching further and will continue to update the U.S. higher education community. If U.S. universities have any information on these scholarships, please contact us.
· Currency Value: Recent sanctions on Iran’s oil exports and central bank continue to impact the exchange rate. In December 2011, the value of Iranian toman against the U.S. dollar doubled from 1,150 toman to a record of 2,300 toman to the dollar and the interest rate of Iran’s central bank increased to 21%. The currency exchange rate fluctuation may impact those students currently in the United States or choosing to apply for U.S. study.
