HOW TO FUND YOUR OVERSEAS EDUCATION
Funding for Overseas Education
A good education is a gift that keeps on giving. It is an investment that realizes more than its worth in the coming years. No wonder then that many parents save for years to help their children through college. However, in the modern times, children prefer to take matters into their own hands when it comes to college funding or at the very least augmenting the amount set aside for their education by their parents with funds of their own. One of the biggest factors in the decision to study abroad is the costs involved. Many universities charge a higher tuition fee for international students as compared to residents. This combined with the other living expenses such as rent and groceries coupled with the rate of exchange can make the idea of an overseas education seem quite out of reach for most. However, as we will show you below there are various ways in which you can fund your overseas education.
Apply for Student Loans
Applying for a Student Loan is by far one of the most popular methods of funding education abroad. Most banks provide tailor made education loan schemes for purposes of studying abroad. These education loans allow the students softer terms of financing as well as the option of deferring payment till the student starts earning an income of his own.
Check if you are Eligible for Scholarships or Grants
If you have been a meritorious student all your life and have the grades to show for it, then you can consider applying for merit scholarships. Many of the Best Universities across the World have scholarships for various fields of studies. There are also some independent government funded scholarships such as the Fulbright Scholarship which is bestowed on high caliber students. According to an estimate by the College Planning Services in the USA, the department of education in the USA awards up to 64 billion USD in scholarships to meritorious students every year. If your forte is more in sports than in academics, many universities also offer sports scholarships for students who show outstanding capability in the sports field. However to be considered under this category you would have to be outstanding at the sport you are applying under.
[Read More: Top Scholarships for Indian Students to Study Abroad]
Seek out Teaching Assistant ships or Research Assistant ships
Many universities abroad, allow their students to work part time on weekdays and on weekends to supplement their college expenses. Students can take up jobs on campus such as being a teaching assistant or a research assistant to earn some money while studying at college. These jobs apart from helping with the tuition fees have the added benefit of giving one the opportunity of increased interaction with one's professors. Another job that can be taken up by a student in his upper-class year is that of a dorm resident adviser or resident assistant. A dorm resident assistant can stay for free in the dorm, thus saving accommodation expenses and get real time experience in managing the logistics of running a college dorm.
Consider Crowd Funding
If you have a compelling reason as to Why an Overseas Education would be Good for you and are good at sharing your personal story, then you can consider going the non-traditional route of setting up a crowd funding website for funding a part of your education. Many crowd funding sites such as Go Fund Me and Dream Fund have students who are using it as a platform for funding their college education.
[Read More: Know About Financial Aids to Study Abroad]
Wait Till you are Old enough to Apply as an Independent Student
If you are considering going abroad for your post-graduation course, then consider waiting till you turn 24 years old to pursue an overseas education. In such a scenario you can not only work for a few years before you join college, thus earning money to partially fund your education, but you can also apply as an independent person. This gives an advantage in financing your tuition costs. Some countries such as the USA have easier financing options for students who apply as an independent person as parent's income is not taken into consideration when determining financial aid. To know more about the costs of pursuing an overseas education and how to finance them, get in touch with Global Tree the Most Trusted Overseas Education Consultant in India.