How To Finance Your Studies Abroad – Often when people think of ways to finance study abroad, scholarships are the first and only option they consider. However, there are many other forms of financing that you can access and thus fulfill your dream of studying at a university abroad.
Below is compiled a list of how to finance my studies abroad and also live comfortably and with ease.
One of the best ways to finance your degree abroad is through scholarships. Fortunately, there is a wide variety of these, for example, merit-Based Scholarships, sports scholarships, directed Scholarships
Scholarships from international and independent organizations
Even a partial scholarship can lower the cost of studying abroad, so don’t hesitate to apply to all the programs you’re eligible for. In addition, you can inquire about scholarship options through the study program you have selected.
One of the best-known scholarships is the highly competitive, merit-based Fulbright Foreign Student Program for graduate study. However, you do not always need to be the smartest in your class or be an athlete to win a scholarship because the criteria for these are very varied. For example, it may depend on your nationality or your specialization.
In recent years, GSG Education has achieved more than $3,000,000 USD in scholarships to our students. On average they access a 25% – 30% scholarship on tuition.
2. Economic subsidy
The economic grants are aimed at low-income students who can prove that they do not have the necessary money for the university they wish to apply for.
You don’t have to repay them, but as we mentioned, you must meet some financial conditions, such as very low or no sources of income. so that they can accept your request.
3. College papers
Many countries, such as the US, UK, Canada, Australia, and France, allow full-time students to legally work part-time on campus and sometimes even off campus. This varies by school, and country eligibility.
In case you opt for this modality, you will need a local bank account to deposit your salary, something that you can organize before moving abroad.
4. Exchange programs
Studying abroad in collaboration with a university in your country can be the most profitable way to live the incredible experience of taking international studies.
Exchange programs are diverse and well-funded, which often means that they offer the opportunity to go sightseeing in the destination country.
However, they vary depending on your place of residence and the links between your home university and international institutions.
ERASMUS is the best-known international exchange association for students in Europe, covering the countries of the European Union – EU and most of its higher education institutions. In the same way, American universities have excellent international links during semesters or years abroad.
Loans are a financial commitment that students can choose to finance their studies. The credit is generally provided by banks or state programs, you can consult our advisors about which programs you can access according to your country of origin.
The difference with scholarships is that, in this type of financing, you must return the money within the time period and the interest indicated by the program to which you applied.
Crowdfunding is one of the newest ways you can use to finance your studies abroad. It consists of collecting donations for a specific purpose.
You can register on crowdsourcing websites for education and share it on social networks so that your family, friends, or anyone who wants to help you can contribute financially.
By sharing your crowdfunding account on social media, you can tell your story, goals, and why you want to study abroad. Never underestimate the power of a good story and, above all, of social networks.
7. Universities That Offer Economic Benefits To Foreign Students
Many times people only consider Ivy League universities and forget about the universities that offer low-cost tuition. Remember not only to look at a country, opening your options can give you access to great discounts.
You may have to pay administration fees and of course, there are still living expenses to consider, however, you should factor in the money you will save over the next 4 years or more.
Germany, France, and the Nordic countries are just a few of those that have free higher education programs for students. While undergraduate degrees are usually taught in the native language, there are many postgraduate degrees offered in English.
As you will see, there are different ways to finance your studies abroad, so you can start looking at which university you would like to study at and which financing option suits you best.