Higher education abroad – While deciding to go for higher education abroad, the first thing that crosses your mind is funding.
Parents and students have to make tough choices dealing with the financial reality of higher education.
While there’s very less students are expected to do, as parents help them prepare for their college funds, getting financial help is not as difficult as it sounds. We suggest a few ways in which you can fund your higher education in your dream university. Read on.
Funding higher education abroad
1. Scholarships
A number of universities offer scholarship based on your score or if you belong to a special genre such as sports or athletics. Research about the university you wish to apply to. Know about their terms and conditions for providing a scholarship. Apply to as many as you can, because there are chances that few of them would agree to financing a year of your school! And no, you need not have an exceptional talent like being a sportsperson or such, to receive scholarship.
2. Loans
The higher your college tuition fee is, higher will be the rate of interest charged by the bank. But the rate charged depends on the type of bank you apply to. For example, if you decide to study in the U.S. and your school/college is enrolled in the Federal School Code List, the loan can be used to pay your tuition fee. Another bank foundation, Sallie Mae International offers loan that can be used by international students who wish to study in the U.S. Before you decide to loan an amount from any bank, be sure that the interest rate is nominal and not way too overboard.
3. Grants/partial payment
A wide range of private and government organizations provide grants. Educational trusts and foundations provide fund amount depending on your family’s financial condition. Generally, educational grants are issued by a government organization and a part of the government loan is issued as a grant to students who seek financial support for their education.
4. Tuition reimbursement
If you’re a working personnel, check with your company about the tuition reimbursement policies. A tuition reimbursement policy is a type of benefit offered by a company to an employee in which the company pays almost ninety percent of the fee and relevant expenses amount for the employee. The terms and conditions for tuition reimbursement differ with every company.
5. Fellowships/ Teaching assistants
Certain organizations such as the Institute of International Education (IIE) offer scholarships and other opportunities such as teaching assistantships to students in the final year of their education. The minimum qualification required to enrol in such fellowships depends on the organization. The IIE however, has graduation as the minimum qualification to enrol as a fellow. The work of a fellow generally involves working in the university as a teacher or something in the administrative role.
Higher education abroad – Investing in your education promises high returns, be it on a national level or international. A student can have access to a number of other advantages by starting the process of studying abroad early.
Good luck!
