Winning a fully funded scholarship to study in the United States sounds like the ultimate dream.

Free tuition.
Free living expenses.
No student loans.

But here’s what many students from Nigeria, South Africa, and other countries don’t realize:

Even “fully funded” scholarships often do NOT cover 100% of your total study abroad costs.

In 2026, international students can still face:

• Visa application fees

• SEVIS fees

• Health insurance costs

• Travel expenses

• Housing deposits

• Personal expenses

This guide explains:

• What fully funded scholarships really cover

• Hidden costs you must budget for

• Best fully funded scholarships in the USA (2026)

• How to avoid needing private student loans

• What to do if your scholarship doesn’t cover everything

Let’s break it down.

What Is a Fully Funded Scholarship?

A fully funded scholarship typically covers:

• Full tuition

• Monthly living stipend

• Books and study materials

• Sometimes health insurance

• Sometimes airfare

However, each scholarship program is different.

Some cover only tuition.

Some include partial stipends.

Always read the funding breakdown carefully.

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Best Fully Funded Scholarships in the USA (2026)

Here are well-known fully funded scholarship programs:

1. Fulbright Foreign Student Program

• Tuition coverage

• Living stipend

• Airfare

• Health insurance

2. Hubert Humphrey Fellowship

• Tuition

• Living expenses

• Travel

3. University-Specific Fully Funded Graduate Assistantships

• Tuition waiver

• Monthly stipend

• Sometimes insurance

4. Presidential Scholarships (Undergraduate)

• Full tuition

• Sometimes housing

5. STEM Research Fellowships

• Tuition

• Research funding

• Stipend

Note: Availability varies by program and field.

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What Fully Funded Scholarships Usually DO NOT Cover

Even major scholarships may exclude:

1. Visa Fees

• F-1 Visa Application Fee (~$185)

• SEVIS Fee (~$350)

2. Health Insurance Gaps

Some scholarships provide insurance.
Some require you to buy university health insurance ($1,500–$4,000 per year).

3. Travel & Relocation Costs

• Flight tickets ($800–$2,000)

• Housing deposits

• Winter clothing

• Laptop purchase

4. Dependent Costs

Most scholarships do not cover spouse or children.

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Hidden Cost Breakdown Example

Let’s assume:

Tuition: Covered
Monthly stipend: $1,500

But additional costs:

Total uncovered: ~$5,500+

Even with a “fully funded” award.

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Do Fully Funded Scholarships Cover Health Insurance?

Sometimes.

But many U.S. universities require:

• Specific insurance plans

• Minimum coverage requirements

• Certain deductible limits

If scholarship does not cover it, you must buy:

Health insurance for international students (often $1,000–$3,500 per year).

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What If the Scholarship Is Not Enough?

Many students fill funding gaps with:

• Private student loans

• Family support

• On-campus jobs

• Graduate assistantships

However, private student loans for international students USA usually require a cosigner.

Borrow cautiously.

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Scholarship vs Student Loan: Which Is Better?

Obviously scholarships are better.

But compare long-term outcomes.

Example:

$50,000 student loan at 9% APR
10-year repayment
Total repayment: ~$76,000

Scholarship = no repayment.

However, partial scholarships may still leave $20,000 funding gap.

In that case, careful borrowing may be necessary.

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How to Increase Your Chances of Winning a Fully Funded Scholarship

1. High GPA

2. Strong recommendation letters

3. Compelling personal statement

4. Leadership experience

5. Research publications (for graduate applicants)

6. Early application submission

Competition is intense.

Acceptance rates can be below 5%.

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Countries That Offer Fully Funded Scholarships

While this article focuses on the USA, many students also apply to:

• UK (Chevening Scholarships)

• Canada (Vanier Scholarships)

• Germany (DAAD Scholarships)

• Netherlands (Orange Knowledge Programme)

Diversifying applications increases success probability.

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ROI: Is Studying on Scholarship Worth It?

If you graduate from:

• Engineering

• Computer Science

• Healthcare

• Finance

• MBA programs

U.S. average salaries range from:

$60,000–$120,000+

A fully funded scholarship can produce enormous return on investment.

Even partial scholarships significantly reduce financial stress.

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Common Scholarship Mistakes

1. Applying late

2. Submitting generic essays

3. Ignoring eligibility rules

4. Not preparing financial documents

5. Assuming “fully funded” means zero expenses

Always calculate total cost of attendance.

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Frequently Asked Questions

Are fully funded scholarships truly free?

Mostly, but hidden costs exist.

Do scholarships cover visa fees?

Usually not.

Can I work while on scholarship?

F-1 students can work limited hours on campus.

What GPA is required?

Most competitive programs require 3.5+ (varies).

Should I take a loan if I win partial scholarship?

Only if ROI makes financial sense.

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Final Thoughts: Fully Funded Doesn’t Mean Zero Cost

Winning a fully funded scholarship in 2026 is life-changing.

But smart students:

• Budget for hidden costs

• Plan for insurance

• Prepare visa expenses

• Understand funding gaps

A scholarship eliminates tuition — but financial planning eliminates stress.

Before accepting any scholarship offer:

• Confirm what is covered

• Ask about insurance

• Calculate travel costs

• Plan emergency funds

Education abroad is an investment — even when tuition is free.