DIFFERENT FINANCIAL SOURCES TO FUND YOUR ABROAD EDUCATION
“I want to study abroad but I can’t afford it” is a common worry when planning to study abroad for Indian students after their graduation. Studying abroad is definitely a costly affair. Many students are deterred by the high cost of some overseas education degrees, but study abroad is an invaluable experience.
Here is a list of some of the creative methods students have used to fund their abroad education, which are more practical than others.
There's a Scholarship for Everyone
Overseas scholarships are the sought after option for an affordable education abroad. Many are provided by foreign institutions based on merit. There are various scholarships for studying abroad by Indian Government after 12th for those who wish to study abroad. These scholarships are need-based, merit-based, diversity-based etc. The most convenient way to finance your Bachelor study abroad plans is through scholarships. There are a wide range of Study Abroad Scholarships out there like:
Abroad scholarship for Indian students can be a great way to secure funding for fees and living expenses abroad. Depending on the university, country and course, there is a wealth of opportunities available to those with excellent academic credentials, from a low-income background, or working in a specialist field.
TIP: There are a lot of scholarship to study in Germany for Indian students
Systematic Investment Plan (SIP)
This is great for working people who want to study abroad. SIP requires users to invest a set amount in a mutual fund plan regularly. It’s clever because it saves and invests. These tiny amounts add up to a large fund that lets you pursue your educational goals. You can visit your bank for more information or attend the WORLD EDUCATION FAIR 2023 by Orient Spectra and explore your options.
Look for Students Grants
Student grants or bursaries are similar to study abroad scholarships, but they are only need-based. Many universities provide such grants to students with financial issues and great calibre to help them pursue their higher education abroad. Given by government or charity organisations, these financial aid grants are preferable to student loans for paying for higher education costs.
You know what? The perk of study abroad grants is that you do not have to bother about repaying them as they are non refundable, but their value varies greatly from one university to another. It is highly beneficial if your income course is very low or nil. With grants, you will have enough money to fund your tuition, and cover your miscellaneous expenses.
Moreover, you can avail multiple grants at a time.
Get a Job to offset the cost
When all other funding alternatives have been exhausted, overseas education while working can be a viable choice. With a valid student residency permit, most overseas students can legally work, usually at least part-time. This will allow you to participate in most of your classes as well as contribute to your living expenses while pursuing your education abroad.
If you plan to study in UK, or study in Germany then there are many universities which allow students to work part time for various reasons. Part-time work can help defray some of your living expenses, but it won’t be enough to cover your tuition on its own; It is best to combine work with another type of funding. You can opt for Education Loan Assistance alongside a part time job to manage your finances better.
Educational loans are a common worldwide financial compromise that students make to fulfil their study abroad dreams. Aid from banks and other institutions requires you to pay the money back, often within a certain amount of time and with interest. With the financial assistance you also get the freedom and flexibility of choosing your own loan amount and loan duration. Such a student loan for study abroad will cover up to the total cost of attendance, as determined by your school; it also covers expenses such as tuition, accommodation , books, commute, health insurance, and living expenses. Make sure to consider multiple lenders before settling on a choice.
Ask your parents for help
If you don’t want to take a study loan for abroad education and if your family has the means to fund your overseas education dreams, then “family bank” is the best possible source of college funding. Your parents may be able to help pay for your education if they have the means to do so. But this also means you are likely to depend longer on them, which may clash with your need for independence.
Feel free to attend the WORLD EDUCATION FAIR 2023 on March 11, 2023 at Taj Deccan, Banjara Hills, with your parents and discuss your possibilities to study abroad for free.
The Sponsorships Option
Sponsorships to study abroad are different from scholarships for abroad education. These are provided by certain companies and organisations depending on your degree or field of study. The company usually pays for your tuition. There are three different kinds of sponsorships: Sponsored degree, Company scholarship, and Corporate sponsorship.
Simply put, it is when a company you work for or have some other connection to pays your fees. Companies usually use this kind of sponsorship to find new people to work for them. Most of the time, if a company pays for your college, you agree to work for them for a certain amount of time after you graduate.
Where there’s will, there’s way.
There are multiple options for you to fund for education abroad if you don’t have any savings or other means to finance your studies. So don’t let the lack of money hold your ambitions back.
Take advantage of this information and attend the SEMINAR on the various trends of abroad education only at the WORLD EDUCATION FAIR 2023 and explore your funding options to fulfil your study abroad dream.