5 easy ways to fund overseas education
Many students desire to study abroad but the cost can offer great resistance. The expenditure of studying abroad includes many things such as tuition fee, cost of the textbooks and living expenses. The worst part is that only 23% parents have education or investment plan in place. You may say why not start early and opt for long-term saving, well the idea is good but this option may not be practical for everyone.
When you think of loan, you may think that it is the only option possible which is not true as there are also others like:
- Fee-free universities
- Interest free loans
- Grants and bursaries
- Interest-free loans
So you think that you have to be good in academics or sports to win a scholarship? Yes! Well, you are wrong. A scholarship’s criteria can be merit or needs-based. There are all kinds of scholarships in the world, some even depend on your nationality, you major or even your gender. Don’t believe it? Google “weird scholarships” and see if your passion can help you get admission in the university of your choice.
2.Fee-free universities is a thing:
Everyone aims to have the best education and may eye only on the Ivy League but one should remember to also look out for universities offering low-cost or even free tuition for international students. There may be nominal fee but there will still be living expenses and so, one should think of the money and choose accordingly.
When students apply for interest-free loans, they usually don’t require to pay interest or meet the usual credit requirements needed to qualify. Students can opt for this but applications can be competitive, however, and based on need.
4.Grants and bursaries, like scholarships, are considered ”gift aid” and don’t need to be paid back:
While this is usually on a first-come, first-serve basis, this proves to be very beneficial for students and so, in order to avail this, one must apply very early. You must talk to school’s financial aid department to find out whether or not you are eligible. The best part is that unlike scholarships which are often merit-based or come from different sources such as community organisations or individuals, grants and bursaries are usually needs-based financial aid.
Opting for student loan means paying lower interest rates than personal loans and the lender also waits till the student graduates and starts paying it back. The student can also start paying the loan back in small increments; this will leave the student with less interest to pay at the end of the loan.
So these are a few ways students can fund their education abroad. For more such ways, one must get in touch with abroad education counsellors; they can you best about everything related to abroad education.