Studying abroad is the new cool today especially amongst the Indian students who are diligent and aspire to have a phenomenal career in their respective fields. Overseas education is a game-changer move in one’s career but it does have a cost that can be exorbitantly high for some students. However, the cost of studying abroad causes a majority of students to drop their plans of studying abroad. In this blog, we have provided complete information about some of the unique ways to fund your higher education abroad without slashing your pockets.
Table of contents
Determining the Major Costs
Before commencing your education abroad journey, map out all the major expenses. Some of the major expenses have been mentioned below-
- Tuition fees
- Living expenses
- Other miscellaneous expenses
Unique Ways to Fund Your Higher Education Abroad
Saving money is the most fundamental step for funding your education abroad. Some of the smartest and innovative ways have been explained below.
Scholarships and Grants
Scholarships are among the many unique ways to fund your higher education Abroad. It is provided to international students by foreign universities on various grounds which include need-based, merit-based, diversity-based scholarships, sports-based, student-specific Scholarships. Countries across the world like UK, USA, Canada, Australia, Germany, Greece, etc. offer multiple scholarships for Indian students. Students must invest time and research the potential scholarship opportunities, at least a year before the foreign university admission.
Here are a few top scholarships for Indian students to study abroad.
- Tata Scholarship – Cornell University, USA
- Commonwealth Scholarship and Fellowship – UK
- Chevening Scholarships – UK Felix Scholarships – UK
- Fulbright-Nehru Fellowships – USA
- UBC International Leader of Tomorrow Award- British Columbia University, Canada
- Australia Awards Scholarship
- Inlaks Shivdasani Foundation Scholarships – the USA, UK and Europe
- Australian Embassy Fully Funded Scholarships
Systematic Investment Plan (SIP)
This is an apt way for working professionals who want to pursue their education abroad. However, the number of years at their disposal is critical as it determines the effectiveness of this method. SIP is a process in which the customer invests a predetermined amount in a specific mutual fund scheme on a regular basis – weekly, monthly, quarterly, and so on. It offers twofold benefits of saving as well as investing.
The major benefits of a SIP are that the regular payments are easy on the pocket and smart management of the investment. Over a period of time, these small amounts add up to considerable funding that allows an education abroad aspirant to pursue their education abroad dreams.
Loans for students, as well as loans for people who want to study abroad, are available at the drop of a hat. An education loan can be obtained to meet the remaining costs after availing of the advantage of scholarship opportunities to the fullest, A foreign degree does add credibility to one’s resume, which results in better job opportunities and placement packages. As a result, a loan for international education can be easily repaid.
Many esteemed banks offer Student Loans at special interest rates. HDFC Bank offers various customised plans at competitive and affordable interest rates and with flexible repayment terms. Moreover, funds from Education Loans can be utilized for foreign education in over 950 courses across 36 countries.
Also Read: How to Get Free Education From Abroad?
Student Exchange Programs
Student exchange programmes are also an emerging method among the many unique ways to fund your higher education Abroad. They are now available at several international colleges and universities. This clearly implies that a student can complete a portion of the programme or a few semesters abroad before returning to India to finish the rest. The student will not only gain international experience and network with students from various cultures and nationalities, but will also be able to save money on tuition, housing, and other living expenses.
Teach While you Learn
Professors at several foreign universities require teaching assistants and interns to do their daily work of lesson plans, assessments, and supporting students with additional and remedial classes, etc. A diligent student can assist a professor and earn a decent buck. This alternative has a two-fold advantage. First, it will help them become aware of the nuances of their majors and minors and secondly, it will help them finance their degree with fewer hindrances. Also, it will provide all the aspiring teachers, a practical exposure in the realm of teaching.
Also Read: Part Time Jobs for College Students
Leverage Edu Scholarship
Recently, Leverage Edu came up with India’s largest study abroad scholarship to give wings to the study abroad dreams of heaps of students in our country.
The scholarship is worth ₹5,00,00,000! It is a staggering amount indeed.
How to apply- The way to apply for the scholarship is very simple.
If you are applying through the Leverage Edu platform, fill the “Apply for scholarship” form and answer why you want to get the scholarship in just 100 words.
Benefits– Students can get scholarships ranging from rupees 15,000 to 5,00,000. The winners of the scholarship will be announced every fortnight.
This was all about the unique ways to fund your higher education abroad. For getting more information about scholarship opportunities and other unique ways of sponsoring your education abroad, feel free to reach out to our Leverage Edu experts who are just a call away.