Is it possible to afford overseas education without an education loan?
Yes, it is!
All you have to do is find the right sources that can pertinently support your overseas dream. Foreign education is expensive due to top-notch education quality and other associated costs. The cost of living in a foreign land is not an easy end to meet. Savings can never be enough to bear foreign education as you must not exhaust your reserves completely. Those who don’t have a financial cushion are often left with a single blatant choice- an education loan.
If you chalk out what kind of expenses you will be bearing while studying abroad, there are mainly three significant costs-
- Tuition fees
- Cost of living
Is there any other way to bear the foreign education costs without getting an education loan?
Absolutely yes! There are ways to study abroad without getting crumbled under the burden of interest rates and draining your savings. Read on to know how can you live your overseas education dream without getting limited by your financial crunch.
Scholarships and Grants
Majority of foreign Universities award scholarships to the students based on various criteria. The tricky part is to convince the committee or funder that you are a worthy candidate for the scholarship.
Nothing to worry about here!
With the right research and execution, you can present your true intent behind studying a particular program and your commitment to learning. Impressing the committee is not an arduous task. Research about college, course, and other requirements to present your application perfectly. There are different kinds of scholarship programs that can take a substantial financial burden off your chest-
- Location-based scholarships/grants
- Program-specific study abroad scholarships
- Subject-specific scholarships/grants
- Student-specific scholarships/grants
- University provided scholarships/grants
- Government-funded scholarships/grants to study abroad
Apply! Apply! Apply!
Options are plenty. Knowing all your options solves half of the problem. Apply to various scholarship programs and meet all the academic requirements without fail.
A Good Investment Plan
Investments can be a good source of money while meeting overseas education expenses. If you are a working professional and want to pursue further studies, you might use some of your investments to fund your foreign education like education loan. It takes years for investments to come to their disposal; that’s why investments must be done prior if you wish to utilize the money for overseas education. Following are some of the great ways to invest your money-
- Mutual Funds
- Fixed Deposits
- Certificate of Deposits
Find a Sponsor
Some sponsors are ready to bear your overseas education expenses!
Isn’t it amazing?
Some agencies and websites provide funding and sponsorship to study abroad. Local agencies link you with sponsors who are willing to bear your educational expenses partially. Usually, tuition fees are taken care of by sponsors. You will have to bear other expenses such as accommodation and living costs.
Earn While You Study
You can work part-time while studying abroad. Keep your options open and earn while pursuing your dream program at your dream university. Working part-time while studying is a great way to earn money and meet some of your expenses.
It’s also a great way to get acquainted with local culture and make friends!
A part-time job will assist you financially and help you gain invaluable experience that you can utilize later. Knowing the local culture, people, and opportunities will help you lead a comfortable stay and prove exceptionally helpful in funding your education and living.
Look for Campus-based Aid Programs
Certain Universities and colleges offer financial aid to financially weak students. You can apply for such campus-based aid scholarship programs based on your need and merit. These programs provide a sum of money and offer part-time on-campus or community work. Students with extreme financial support can greatly benefit from such programs.
Apart from all the above options, effective financial planning is needed to migrate to your dream country successfully.
A financial advisor who can guide you about budget, scholarship programs, accommodation, bank accounts, and travel can help you set the perfect funding mix. Genuine financial assistance will help you assess your funding needs and fill the gaps.
ForeignAdmits is your true financial advisor who helps in-
- Estimating budget
- Getting the best deals on accommodation
- Saving money on flight tickets
- Getting the best insurance plans
Do you know you can save upto ₹5,000 on your flight ticket if you get your GIC done through ForeignAdmits?
Yes, you have read it right! We at ForeignAdmits help you save money and find the perfect funding mix to make your study abroad journey comfortable. Sign up now at ForeignAdmits to get through assistance at every step.
At ForeignAdmits, we understand how important this decision is. We are here to help you every step of the way, from finding the right school to getting admitted and securing scholarships.
ForeignAdmits have a team of experienced counselors who can provide you with customized guidance based on your individual needs contact us today to get started. We look forward to helping you achieve your educational and career goals!