Are you struggling to figure out ways to secure financial aid to study abroad? The thought of studying abroad can be very exciting, stressful, and anxious at the same time. Numerous students feel devastated initially but later discover that there are lots of options available.
Moving to a new country, with a new culture and most times learning a new language is demanding and stressful but more than anything it’s paying the bills that can be the biggest challenge.
A lot of students have come up with new and imaginative ways to fund their studies abroad. We have done an extensive research to bring you the best possible options. You can also check the list of the best online jobs for college students.
7 Ways to Secure Financial Aid to Study Abroad
Scholarships are great ways to secure financial aid to study abroad. I’m pretty sure you are already familiar with the idea of academic scholarships. It simply means that an institution is interested in helping you pay for part of your studies. It is a win-win situation for you and the institution, the institution earns greater recognition, gratitude from future industry leaders, or access to professionals who inspire other students as well.
Scholarships vary depending on the university, country, and course, but there are a lot of opportunities available to those with excellent academic credentials, developing nations, or working in a specialist field.
If you’re looking at scholarships in the UK, scholarships favour more postgraduate rather than undergraduate. The majority of scholarships are for postgraduate courses. However, in countries like Germany and the United States, there is an abundance of funding for both undergraduate and postgraduate courses.
Most times, loans are the financial compromise that students have to make to make sure that they can continue their education. Prestigious awards are difficult to secure and lots of these awards don’t cover the full educational cost of studying abroad. If you’ve researched and applied for various scholarships and you are not successful or the scholarship doesn’t cover the full educational cost, study abroad loans are available to cover any remaining amount of unmet financial need.
At StudyAbroadLoans.com, students can apply for up to $50,000 annually, lots of funding for just about any destination, and the terms will be the same as a standard student loan. Interest rates are competitive, repayment can be postponed until after graduation, the application is very fast, and funding is also fast and direct to the student.
3. Part-time work
This doesn’t sound new but most students usually forget that it is usually possible to do a part-time job while you’re studying at the university.
Visa regulations vary based on the country, but most international students with a student residence permit are eligible to work. Note that part-time work cannot cover your tuition fee, it is advisable to combine work with another type of funding. Part-time will aid you to pay some of your living costs, but it will not cover your fees.
Ensure you check exactly what work you are allowed to do on your visa – for instance, J1 students in the USA can only work on-campus jobs for a maximum of 20 hours per week.
Presently in today’s world, social networks can be a strong tool for making your professional goals happen. If you have lots of followers or subscribers on your blog, YouTube, Instagram, Facebook, or any other social media, consider providing the options for your subscribers to donate to your account via a payment app like PayPal.
GoFundMe, GoGetFunding, and FundMyTravel are also alternatives to secure financial aid to study abroad. The most important thing is to successfully turn your university experience and upcoming study abroad seminar into an exciting campaign that gives your readers an inside look every step of the way.
5. Exchange programs
One of the most cost-effective ways of securing the valuable experience of an international study is to collaborate with a university back home.
Exchange programs are diverse and well-funded, meaning that they offer an opportunity to spend some time abroad. However, exchange programs differ based on your country of residency and the links between your home university and international institutions.
The most popular international exchange partnership for students in Europe is ERASMUS. It covers EU countries and most of their higher education institutions. Also, colleges in the US have good international links for semesters or years abroad as well.
Sometimes, based on your degree of specialization, it is likely to secure your fees sponsored by a company, firm, or institution. There are three types of Sponsorships:
- Corporate sponsorship: this is where a company that you are linked with (either you work for them and want to carry on working for them while you study or post-graduation) pays your fees. It is the company’s decision to make and you would have to approach them to find out if it would be possible.
- Sponsored degree: Sponsored degree is slightly different from corporate sponsorship. You are not required to have a relationship with the company. The sponsored degree is normally used as a method for companies to recruit talent into their workforce. The company takes care of your educational cost while you agree to work for them after you graduate for a certain period of time.
- Company scholarship: This is offered by a company as a subsidy to your fees based on you completing a particular degree, normally with extra work experience and mentoring alongside.
7. Apply for Global Studies Abroad
The global study award gives you the opportunities to compete and win cash prizes that would cover all or the majority of your educational cost. Once you compete for the award, you will be offered the opportunity of being shortlisted for an interview.
If you eventually succeed in the interview, you will have enough money to pay for your tuition, other educational costs, and a free trip abroad. To be eligible for the Global study award, you are required to gain admission to a university abroad. After you’ve met the eligibility criteria, you can proceed to apply for the Global Study Award Here.
Originally posted 2022-04-26 12:18:13.