How to Fund Your Education Abroad?
Even though the scintillating benefits make it appealing, it can turn into a nightmare for those who lack adequate funds. In fact, it can turn dilemmatic for most of the aspirants, who have just enough finance to make it. They may become anxious about the budget and the expenses during the stay. But, do you know that you can fund your education abroad? At least a part of the financial burden you can share, relieving your parents from the excess financial load. Let us look at the possibilities of funding your overseas education.
5 Ways to Finance your Studies Abroad
On analyzing the scenario, we could reach upon five ways that can finance your studies abroad. At any rate, you can explore one of the ways discussed here. Through honest and dedicated efforts.
1. Scholarships
A plethora of scholarships awaits those performed exemplarily in different fields including academics and sports. Many governments and universities offer merit-based scholarships for foreign students, who have exhibited their excellence through great scores. Normally, such scholarships are available only for foreign students below the age of 35. The University of Bristol and the University of Oxford are renowned for academic-based scholarships.
Famed universities including Stanford and Yale in the US offer sports-based scholarships. If you have performed well in a particular game and can put your bit for the university team, you can seek this scholarship.
2. University Grants
These can be considered a type of scholarship only. Almost all of the top universities in the UK, US, Australia, Germany, Canada, and other prominent countries offer University Grants. However, the student must have proven his or her mettle through the grades in the qualifying exam and all the previous courses. Apply for a grant if you have been excellent in your academics and have been one among the top lot.
Foreign universities prefer the students with great future in studies, research, and inventions to be part of them. The students will bring laurel to self, as well as, the educational institution. Thus, amplifying the credibility and worth of the college and the university. That has been the basic reason for grants.
3. Educational Loans
An educational loan could be another viable option to fund your education abroad. Many banks offer the loan at a nominal rate. And most of them ask for repayment only after completion of the course and joining a job.
Apply for an educational loan from a reliable bank if you are unable to get a university grant or scholarship only. As the loan is repayable with interest, whereas both the other things are not required to be repaid.
4. Working Part-time
We would say that this is an ideal thing to do. Choose a part-time job in the country of education. The countries like the UK and Canada offer good enough payments to foreign students who work part-time. By opting for this you will be reducing the financial load on your parents phenomenally. Besides, learning the skills of an employee, interacting with the local public, enhancing your personnel relations, and enjoying.
A majority of the students, including those with financial stability, select working part-time. It is a means to find some extra money and merge with the local public to become one among them. Part-time working, during your education abroad, will inculcate a habit of relentless hard work in you.
5. Sponsorships
Scholarships may not be as popular as the other four. However, it can pay your educational fee and help you meet the expenditure requirements during education abroad. There are different types of scholarships available, including corporate scholarships, company sponsorships, and individual sponsorships.
You can request corporate organizations, private companies, or prominent personalities for a scholarship. They may consider your application in case you have been performing outstandingly in the previous academic levels. It may not be a problem for the company or a corporate to fund your study. As they can include it in Corporate Social Responsibility (CSR), which is normally 2% of their profit. And may change with the country where you are in.
The Conclusion
You don’t have to be too anxious, regarding financial implications, to choose overseas education. There are ways and means to resolve the issue if you are determined to go ahead and pursue courses in an elite educational institution abroad. Rather than agonizing about the financial burdens, think of the riches it can bring by studying well and scoring high grades in the courses. The most sought-after business entities and corporate firms will simply select you and it will transform your future.
Apachia Institute helps students by consulting their overseas education. Apachia - Study Abroad Consultants is a one-stop solution for all your education needs in Kuwait. You can contact us to know more.
Also read: Why Professional Guidance is Necessary While You Prefer Studying Abroad?