Most of us who have always desired the best knowledge in our subject of interest have probably also wondered where to get it from, right? And after considering all our options, we have wondered what we could do to find the type of ally that would satisfy our thirst for knowledge while not drowning us in it but still having enough to conquer our territory. The answer is simple "Studying abroad."
But if you want a rainbow, you gotta put up with the rain. Let us all agree that not everyone is fortunate enough to have a large financial cushion to study abroad. Studying abroad, as appealing as it may sound, can be costly. Most of us have seen the cost of our fantasy abroad program and flinched in a split second — don't be scared; there is a way to deal with these hefty sticker prices. Today, Scholarships and Education Loans have made studying abroad, or even in the native country, easier than ever before. It's as if someone is lending you a hand in climbing the mountain of accomplishment.
Likewise, you can also do several other things to fund your studies. A number of students have come up with creative and original approaches to fund their education abroad, although the feasibility of some of these methods may vary.
Let us look at some of the tips and tricks to save money to help you achieve your longtime dream of studying abroad.
Scholarships and Grants
Today, Scholarships have really helped students pursue their educational goals without the burden of excessive debt, especially for individuals from diverse backgrounds. Check with the university or college you want to attend, as well as government agencies and private organizations in your home country and the country you want to study in. You can also take the help of charitable foundations. Look for scholarships and grants that can cover a portion or all of your tuition and living expenses. Be sure to apply early and follow all application requirements carefully.
Career Brick has also helped hundreds of international students who are looking for ways to finance their overseas studies through scholarship support. Please ring our bell here, and we will gladly attend to you!
Work-study programs
What is better than earning money to help pay for your education expenses, such as tuition, books, and living expenses? Earning while studying can be a fun way to fund your studies. Many universities and colleges offer work-study programs that allow you to work part-time on campus to earn money for your studies. The jobs available through work-study programs can vary but are usually related to the student's field of study or interests. Examples of work-study jobs include:
- Working in the library.
- Tutoring other students.
- Assisting with research projects.
- Working in administrative offices.
Not only will you be able to fund your studies, but you will also benefit yourself with valuable work experience that can help you build your resume and develop skills that will be useful in your future career. It is like the best of both worlds! Check with the financial assistance office at your university to find out whether this option is available.
Part-Time Jobs
As alluring as it sounds, not every college will allow you to work while studying. But no matter, that is where part-time jobs will help you out. Part-time jobs outside your premises will make you a responsible, independent, and self-sufficient person, which can be useful in your personal and professional lives. You will be able to meet new people outside of the classroom, especially if they share your interests which would be a great learning experience.
Furthermore, not only will you realize the importance of money when you begin making your own, but you will also understand the cost of spending, learn about budgeting and saving, and how to spend smartly. Just make sure it doesn't affect your marks. You want those intact as well! Look out for ads and brochures nearby your campus for part-time jobs that can help you cover your expenses. Some common options include working in hospitality, retail, or tutoring.
Crowdfunding
Wouldn't it be cool if you could borrow money without paying it back? Crowdfunding is the same concept. Crowdfunding has emerged as one of the most popular methods of funding studies for Indian students. It is the use of smaller sums of money from a large number of people for various purposes. Your purpose is to study abroad, and you can use crowdfunding to pay tuition fees or cover travel and accommodation costs. It is a new social media trend that has received both criticism and praise from many people. Make sure you really want it!
Share your story and goals with family, friends, and the wider community to get their support. If you are considering setting up a crowdfunding campaign to raise money for your studies, platforms such as KETTO, IMPACTGURU, KICKSTARTER, and FUNDABLE are good places to start.
Personal Savings
Traveling with your own money relieves stress, and studying will undoubtedly make you feel better! And if you're planning to study abroad, it's important to start saving money as early as possible. If you are fresh out of high school, you may not be able to pay for your education, but if you want to do it until you graduate, you will be able to contribute to the purpose, which is for you to study abroad. By saving up money over time, you can avoid taking out large loans or relying on other funding sources. Here are some tips to help you save for your study abroad program:
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Set a savings goal: PLAN! Start by deciding how much money you would need for your study abroad program, including tuition, accommodation, food, transportation, and other expenses. Once you have that, you can start saving accordingly.
- Create a budget: Making a monthly budget according to your income and expense is important. It will oblige you to identify areas where you may cut back on spending and save more money without bobbling up your monthly schedule.
- Open a savings account: Opening a separate savings account will help you track your progress. Just don’t dip into it for other expenses. You gotta stay determined here.
- Find ways to earn extra money: Look for part-time jobs or freelance work to put extra in your pocket. You can also sell unwanted items or offer services to make money.
- Cut back on expenses: Start looking for ways to cut back on your nonessential expenses, such as cooking at home instead of eating out, taking public transportation instead of driving, or canceling unnecessary subscriptions.
- Research scholarships and grants: Same as the pointer one, look for scholarships and grants that can help you fund your study abroad program.
Remember that saving for your study abroad program needs discipline and commitment. With a solid plan and dedication, you can meet your savings goal and see your study abroad dream become a reality.
Student Loans
If you're strapped for cash, Student Education Loans can come to your aid! If you cannot obtain scholarship grants or personal savings to study abroad, you may consider taking out a student loan. It helps students get to pay for their education. It can help cover the cost of tuition, textbooks, and other expenses. But be sure of the name; it is a loan that must be repaid.
No. Not the whole amount at once. Don't be concerned! Because it is a loan, you must repay the borrowed amount plus interest, though repayment is usually deferred until you graduate from the program of your choice and for six months afterward. Depending on the type of loan, you may have the option to defer payments while you are in school or to choose a repayment plan that works best for your financial situation.
As hassling as it sounds, it also has benefits like credibility. Perfectly paying back a student loan will help you develop a strong credit history, which will be useful for future financial transactions such as buying your dream car or purchasing your first home. To not make you roam around for it, here is a little help to find yourself an education loan.
Be sure to carefully research and compare loan options and interest rates to find the best fit for you.
Family Support
We are not always fortunate enough to have enough money to fund our studies, so this option may vary from person to person. If your family is able to help you financially, consider discussing your options with them. If you have your own money saved up, you can discuss how much they can contribute and what terms and conditions will apply. Do not worry! The family will always be there for you emotionally, if not financially, and will always encourage and motivate you to help you to stay focused and committed to your educational goals.
Conclusion
To be honest, life will not be all hunky dory living and studying abroad, but it will be all worth it when you gain a more informed attitude and a broader perspective on diverse cultures and individuals. To help yourself fund your studies effectively, remember to research all of your options carefully and create a plan that works best for you. You may also consider speaking with a financial advisor or counselor for additional guidance. It is never a bad idea to save money. You, doing it from the start, and for your own good, is even more impressive. You'll be amazed to find out that it gives you a route out of life's uncertainties and allows you to enjoy a quality life. Seneca's Stoic Philosophy asserts that the power of the mind is unconquerable, and information is power; thus, you must know exactly what is expected of you financially when studying abroad.
I know what you're thinking "How are you going to end this blog post?" — With some extra tips and tricks to help you fund your study, like booking your flights early, using public transport, sharing accommodation, learning to cook, recording your expenses, partying less, and saving.
And there you have it! Some effective steps to help you fund your studies abroad. If you enjoyed this post, we'd be grateful if you could forward it to a friend or share it on Twitter or Facebook. Thank you!
