Finding scholarships and funding options for abroad studies
Getting into your dream college, looking for accommodations, food, travel, and exams –all this can be highly tiring for international students. Amid the complex aspects, the college financial aid process comes into play. Having to prove you can afford the college in order to be awarded a student visa. So, how does one get a hold of the money necessary to qualify?
We are here to help you with the funding options and scholarships - here are a few things to consider while looking into international scholarship applications –
Be wary of companies that ask for “loan fees” or “application fees.” No scholarship service will ask you for up-front money and any that do are scams.
Scams include sites that claim to have exclusive lists or influence over those who are accepted for scholarships.
The idea of studying abroad can be extremely exciting and very nerve-wracking at the same time.
Saving money is the most basic way to fund your foreign education but the amount one accumulates this way generally won’t be enough. However, there are other ways that can be combined with savings to bring an overseas degree within your reach.
There are several ways of dealing with study abroad funding, below mentioned are some of the ways you can consider for your higher studies –
1. Scholarships and Grants
Scholarships are sometimes provided by foreign institutions based on merit or some other criteria. There are also various organizations that provide scholarships to those who wish to study abroad. These scholarships are need-based, merit-based, diversity-based, etc.
2. Systematic Investment Plan (SIP)
This option is ideal for working people who wish to pursue higher studies in a foreign university. However, the number of years at their disposal is key to determining if this way of funding will work effectively. SIP is a process that requires the customer to invest a certain pre-determined amount in a specific mutual fund scheme on a regular basis - weekly, monthly, quarterly, etc.
3. Education Loans
Student Loans, as well as loans for individuals wanting to study abroad, are easily available. After saving and maximizing the scholarship option, a loan can be availed to meet the additional costs. A foreign degree grants credibility to one’s profile, which translates into quicker promotions and raises.
4. Part-time work
This is a very feasible option. Students can look for part-time jobs while studying at the university to compensate and cover-up for their everyday expenses.
5. Exchange Programs
Studying abroad in collaboration with a university back home can be the most cost-effective way of securing the valuable experience of international study. Exchange programs are diverse and well-funded, often meaning that they offer an opportunity to spend some time abroad.
Sometimes, depending on your degree of specialization, it’s possible to get your fees sponsored by a company, firm, or institution.
Crowdfunding is the concept of fundraising which is used to raise money for a particular objective. The crowdfunding portals available online help students collect money or funds for their education abroad and have successfully worked for many aspirants.
Savings are the most promising type of funding to study abroad. If you are an individual who has a steady income, you are most pertinent to this option.