Excellent Sources for Study Abroad Funding
Intelligent Overseas Education Funding Update: Preoccupation with the prospect of high costs leads four out of every five candidates to decline the opportunity to study abroad. On the other hand, education abroad does not have to be prohibitively expensive, and here are excellent sources for study abroad funding to students to cover their expenses without breaking the bank. Here’s how to do it.
Scholarships to pave your way
It should come as no surprise that it is the first option students should consider. Scholarships are only available to the brightest students, according to a common misconception among students. This, however, is a myth and should not be taken seriously. Significant scholarships seem to be available for students, ranging from the DAAD and Erasmus+ programs to the JN Tata Endowment and Full Bright. Students who want to find outstanding scholarships should first analyze their profile and then apply for scholarships specific to the subject of practice, interests, extracurricular activities skills, race, gender, country of origin, and other factors. But that’s not all: Universities, along with a variety of different organizations around the world, offer scholarships in three categories: merit-based, need-based, or extracurricular or skill-based scholarships. All that is required of students is to determine their eligibility and submit an application for the appropriate program.
Sponsorships and grants
Some students may be eligible to apply for sponsorships, grants, or fellowships to assist them with their education costs while studying abroad, depending on their degree, country, and profile. While still using grants is comparable to using scholarships, using sponsorships is a little more complicated. Students’ education is frequently supported by corporations, charitable individuals, and nonprofit organizations, among others. This is, however, often a conditional offer in nature.
Part-time jobs: On-campus and Off-campus
Before students can even consider going for part-time jobs, they must first research the student employment rules of the nation in which they plan to study. This is the first step in the process. Students in the United States can obtain on-campus employment in positions like Graduate Assistantships or Teaching Assistantships. These jobs are frequently well-paying and provide assistance with university fees reductions. International students, on the other hand, are not permitted to work off-campus in any capacity. Students in other countries, such as the United Kingdom, Canada, Australia, and many European countries, can take on a variety of jobs, both on and off-campus, and earn a good living wage as a result. This allows students to counterbalance their living and food expenses and the weekly mandated duration, which varies depending on the country but is typically 16-20 hours per week.
Self-employment or side-hustles
Self-employment and side hustles are always options for students who cannot find a part-time job or who find a job that does not provide a sufficient number of weekly hours required by their degree program. In these instances, students can enhance their daily pay by taking on part-time jobs and side jobs in addition to their full-time jobs. If a student is permitted to work 20 hours per week and finds work in a library that only allows them to work 10 hours per week, the situation would be as follows. Depending on the country’s laws in which they are studying, these students may be able to find various side projects or even become freelancers. It’s important to remember that students should research the rules and regulations governing part-time employment in their country before embarking on this path.
Putting together the necessary funds and resources to study abroad is a challenging task. While some students choose to fund their education with the help of their families, the vast majority of students choose to apply for a student loan. The use of student loans allows you to pay for tuition fees in advance, avoiding wasting time during critical years while you wait to accumulate the funds. Banks, non-banking financial companies (NBFCs), and other Indian financial institutions provide student loans at reduced interest rates to assist students in achieving their study abroad goals.
Education abroad may appear to be prohibitively expensive, but students must consider the enormous potential for a positive return on their investment. After all, it’s impossible to put a monetary value on your study abroad ambitions.
Disclaimer: Note that the authors' views don't necessarily indicate or reflect the publishing house's. While studying abroad may seem costly, students must consider the enormous potential for financial gain. Do not hesitate to create a better future!
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