How To Fund Your Studies Abroad

Taking up a dream program abroad to upscale your career is possible and achievable. Sadly, many people have suspended taking up a course abroad because they think it is not cost-effective.

However, with the help of globalization, anything is possible. If you still do not know how to fund your studies abroad.

This article was composed for your consumption.

There are quite a few ways to finance your studies abroad.

There are in no particular order:

Education loan

It is one of the secure and viable ways a scholar can find their studies abroad.

It could either be dispensed by the bank or the institution.

This particular loan helps cater to basic expenses such as tuition fees, accommodation, transportation, and clothing.

90% of the loan comes from the bank.

While 10% is left for the student to cater for.

If a bank is to issue an education loan, the following will have to be provided:

  • Place of address
  • An identity card
  • An academic result/statement

The advantages of education loans are as follows:

It has a low-interest rate.

  • Minority communities enjoy the benefits of subsidized education loans.
  • You are one step to enjoying your dream career and improving your standard of living.
  • Bank offers adaptable repayment packages that allow you to pay in collateral within a time frame.

Scholarships

Scholarships are financial assistance given by institutions, organizations, churches, etc to help students clear up major financial expenses during their duration of research.

Scholarships are another viable way to fund your studies abroad after fulfilling specific conditions as stated on the school’s portal. To qualify for a scholarship you need to:

  • Be focused
  • Have a promising academic performance
  • Have a degree of work experience
  • You must have contributed to your communities in a positive way
  • Have great leadership skills

Types of Scholarship

  • Scholarship by merit: This is the kind of scholarship you qualify for based on your academic performance.
  • Government scholarships: It Is a kind of scholarship given to students by the government. For instance, the Indian government provides scholarships to study yearly.

Internship/part-time jobs

It is another renowned way to find your studies abroad. You will always see lots of international students doing this abroad.

Benefits of internships/part-time jobs

  • It fetches you money to pay for your financial expenses as a student.
  • It allows you to network with people from all walks of life.
  • It enables you to develop skills that give you an edge in the common market.

Sponsorship

  • This can occur due to significant relationships or great character displayed. An organization, church, or individual can decide to sponsor your studies abroad for a specific period.

Saving

With the help of digital platforms like Piggyvest, Risevest you can save for any course including that of your studies abroad. All it will require is consistency and discipline.

Crowdfunding

Many people have used this pattern to raise funds to sort out their immediate needs.

Crowdfunding is a notion of raising funds through the help of the public to sort out a pressing need.

These and many more are ways to fund your studies abroad.

Feel free to share other ways you know one can fund their studies abroad.