Making Overseas Education Affordable

Nov 7, 2017, 00:10 IST

Sources : Times Of India

Every passing year, with the rising need for premium education and the increasing demand for graduates to be at par with international standards, more and more students from India are opting to complete their higher studies abroad. However, despite having a plethora of benefits — including unprecedented exposure and opportunities to widen one’s horizons and understand new cultures, to learn new languages, to experience top-notch educational practices and witness a sharp boost in employment prospects — it is surprising to note that several students opt against studying abroad because of financial concerns. However, here is a list of solutions to overcome some common financial challenges encountered while looking to go outside of India for studies…

Scholarships
While almost every university appears to offer plenty of scholarships to domestic students, international students have drastically fewer grants available to them. This, however, does not mean that one should shy away from applying at all. The best way to find an appropriate scholarship is hardcore research. Considering the vast amount of varieties in the aids offered by institutions (such as merit-based, need-based, and so on), the importance of thorough research can’t be emphasized enough. Furthermore, one must explore the multiple quarters from which financial support is offered, not just from colleges, but also from philanthropic organizations, governments, and as research grants.

Student Loans
It is important to remember that securing a scholarship alone is hardly ever sufficient to cover the totality of the expenditure in studying abroad. While scholarships often take care of tuition fees (and accommodation, occasionally), expenses for food, supplies and other overheads are large enough in most countries to warrant application for student loans. Indian students can apply for educational loans from public or private banks. These loans will have a moratorium period extending to the end of the applicant’s course or to the beginning of their employment, making it convenient for students to repay the amount once they begin to earn.

Part-time Jobs
Working while studying is an excellent opportunity to get acquainted with the local culture and to earn money to cover several expenses. Not all countries and visas permit students to work legally during study, though. Careful research in the immigration policies of the country of education is essential. A good alternate would be to undertake online jobs available on internship and part-time employment portals, especially in the field of one’s study.



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