Tips and Tricks to Finance your Study Abroad

Studying abroad not only helps an individual to gain superior academic knowledge but also helps in increasing cultural tolerance and awareness. However, it is quite essential to finance your study abroad as without the proper funds you will find it difficult to sustain in a foreign city and continue and finish the course you have opted for.

Finance your Study Abroad

This is why we bring to you some tips and tricks which will help you get finances for studying abroad and allow you to fulfil your dreams.

Start saving now – Even if you are planning to study abroad after a few years, it is best to start saving now as every penny counts once you start analyzing the tuition fees of the University of your Choice.

Make use of Grants and scholarships – Also known as ‘free money’ grants and scholarships are kind of funds which needn’t be paid back and this is the reason why it is an attractive method of funding studies abroad. It is important to know that scholarship deadlines generally fall between the months of October and March of the previous year of study. So we advise students to start their search for scholarships at least a year before it is needed. There are certain grants and scholarships which are awarded to only those students who wish to study abroad.

Financial aid helps – Though each university has its own set of requirements and criteria to be fulfilled, several of them offer financial aid to students who wish to enrol in it from developing countries. You can choose from several campus-based financial aid packages from the university’s study abroad program depending on your unique needs. Alternately, you can also visit the financial aid offices in your hometown and find out if they are offering any special packages to students who wish to study abroad. However, the chances of getting a financial aid are far better at the university itself as compared to the financial aid offices.

Get a loan – Another tip that helps you secure finances for studying abroad is that of getting a loan. However, you should remember that a loan is different from a scholarship or financial aid as you will have to pay it back once you graduate and secure a job. It is recommended to visit a few banks and analyze which bank offers the lowest interest rate to avoid paying extra interest.

Take help and advice of others – Before you look around for finance for your study abroad, talk to your finance advisors and friends to find out what are the best ways to get finance for your studies and how should go about it. You can also ask friends or relatives to suggest financial aid offices and specific scholarships and grants which have helped them in the past.

Community network support – Another great tip for financing your study abroad is that of turning towards your community network for support if you cannot avail scholarships and aids. You can organize fundraisers in the local school or church by having a barbecue dinner, bake sale or car wash service and raise funds for your studies.

So use these tips and tricks to get enough finances for your study abroad and get the kind of education you always wanted to.