Is it Possible to Pursue a Master’s and CPA after International Studying in the US?
The Licensed Public Accountant (CPA) exam is a rigorous licensing test administered by the National Association of State Boards of Accountancy (NASBA). While many international students aspire to combine a Master’s degree with a CPA journey in a US university, the road to achieve this dual goal can be challenging. This article explores whether it is possible to study for a Master’s degree and become a CPA as an international student, and what the barriers might be.
Identifying the Challenges
The journey towards obtaining a CPA qualification in the US, especially for international students, is fraught with hurdles. The primary obstacles include financial constraints and work experience requirements.
Financial Barriers
To join the ranks of foreign students in a US university, you need an F-1 or M-1 student visa, which requires you to fully fund your stay, including tuition, fees, books, and living expenses. Given that typical US living expenses can range from $1200 to $1800 per month, the annual cost of a degree program can easily reach $30,000 to $45,000. Additionally, obtaining a car, which is typically necessary in the US, can add around $15,000 to $25,000 to your total expenses. This amount is not easily covered by most scholarships, which are often partial and do not include living expenses.
Work Experience Requirements
To qualify for the CPA exam, you must complete specific work experience. This means that even after securing a Master’s degree, you might find it difficult to obtain the required work experience needed to sit for the CPA exam. The lack of campus-based opportunities or unstable on-campus employment can further complicate your path to obtaining this experience.
Is there a Path?
While the journey may seem daunting, there are steps you can take to align your goals with the current frameworks in the US. Here are some strategies:
Planning Your Career Path
Developing a comprehensive career path plan is crucial. Begin by researching the requirements for the CPA exam in your state of choice. Understanding the work experience and other prerequisites will help you make informed decisions. Additionally, explore avenues such as internships, part-time jobs, or volunteer work that align with CPA requirements.
Alternative Scholarships and Financial Support
While traditional scholarships may be limited, consider other financial aid options. Look into merit-based scholarships, government grants, and private loans. Be proactive in seeking out opportunities that might not be widely advertised.
Networking and Collaboration
Engage with other international students, alumni, and professionals in the field. Networking can provide you with valuable insights, job leads, and even mentorship. Collaborations with local accounting firms or professional organizations can also create opportunities that align with CPA requirements.
Conclusion
While it may not be straightforward to pursue a Master’s degree and obtain the CPA qualification as an international student, there are possibilities. By carefully planning your career path, seeking out alternative financial support, and leveraging networking opportunities, you can increase your chances of achieving these goals. Remember that persistence and adaptability are key to navigating the complexities of the US educational and professional landscape.