Are you interested in Studying Abroad? But tensed about Funds!

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The Ritz and high-end standard of living in western countries have always been the source of attraction since the time west opened its doors to the east. With wonderful scientific discoveries and inventions, we have forever come closer to each other now.

Earning a degree abroad is still considered a sort of wearing an Escutcheon Of excellence with pride. However, we are often perplexed with the plethora of formalities, paperwork and the Biggest Factor is the MONEY.

In this article, we will try to explore the possible ways of choosing a course at an international varsity and also focus on the funding issue.

How to apply for a course?

While there are lot many courses on offer, however, it is advisable to do a thorough background study for the same. Here are few guidelines which can make things easier:

• What are my strengths and weaknesses?
• Which subject or discipline I want to pursue? This can be a bit tricky for the recent high-school graduates.
• Which country do I want to visit? Try to keep more than one option.
• Check the Eligibility criteria.
• Make a list of varsities and prioritize the names.
• Take TOEFL/IELTS/PTE either of the exams to check your proficiency in English. However, the scores are only valid in English speaking countries and certain European countries and TOEFL and IELTS scores are the most recognised.The scores are valid for two years.
• For countries like Germany, France etc you are required to qualify at least A2 level of their native language.
• For students desiring an entry to a B-schools GMAT is a must.
• There is also a scope to pursue Postgraduate courses even if you think your scores are not that pleasing, then one can go for GRE Subjective. GRE Subjective allows you to take a test specifically for a single subject of your choice and the scores received are valid for five years.
• After having completed all the preliminaries as discussed above, now you should focus on writing an attractive Statement of Purpose (SOP) or Expression of Interest(EOI).
• An SOP is an essay written to express that why do you want to pursue the course? How will it be beneficial to you? Do you have the requisite qualification or not?

An SOP can vary between different courses. In the UK or US education system the courses are divided into two sections 1) Taught Module, 2) Research-Based.

Taught module simply means the system we follow here in India. Lessons are prepared from the book and answers will also be limited to the lesson and there is not much scope for personal views.

Whereas in Research-Based courses, there are no fixed materials to be studied and the student is supposed to do research on the course and then produce his understanding and observation.

SOPs for Taught module can be easier to write however for Research-based it can be a bit lengthy.

• The essay written as an SOP should follow strict rules and Harvard Reference System is widely followed in this regard to avoid any plagiarism.
• After completion of your SOP, send it across different varsities that you have chosen.

How do I sponsor my own education? Worried!

Once the application has been accepted, then we need to figure out about Finances. Since studying abroad can be quite heavy on your pocket owing to high tuition fees and other expenses. Even the currency value is a big factor; larger the difference more will be the cost of pursuing the courses.

The cost of pursuing courses might vary between countries, while certain countries like Germany offer free education, however, the cost of food and lodging can be expensive. The state-run Universities in the US can have lesser tuition fees than its private counterparts. Here is a list:

COUNTRIES       TUITION FEE (per year)     LIVING EXPENSES (per year)

USA                     US$6,000 – 40,000            US$10,000 – $15000

UK                       £4,000 – £21,000               £9,000 – $12,000

Canada               C$2,000 – $16,000            C$15,000 – $20,000

New Zealand      NZ$14,000 – $21,000        NZ$12,000 – $15,000

Australia             AU$9,000 – $18,000          AU$18,000 – $20,000

Scholarships and Discount

Based on your score supported by a strong SOP, sometimes the varsity may wave of the tuition fees altogether, which is referred to as Full Scholarship or maybe by a certain percentage, this is commonly known to as Discounted Scholarship.

Often times, in order to get more foreign students on board the varsity may pre-decide to wave off tuition fees, this trend is quite popular among Nordic Universities.

Universities also offer various scholarships to women, sports personnel, research scholarships, scholarships based on your community service etc. If you’re not eligible try to find out from the respective varsities if you can do anything to earn them.

Support from Home University

Your immaculate track record and high grades can help you win the heart of home varsity and they might be ready to sponsor your studies abroad. This can reduce your cost burden by significant numbers.

Government Aids and Grants

Full-time students can also receive grants and aids from the government depending on their stupendous academic record and current financial condition, in such cases students are supposed to sign a bond of serving the mother country on return.

Apply for a Student Loan

There are varieties of loans available for students offered by different financial institutions. The loans cover almost all of the expenses abroad and one can repay it for 5 to 7 years after settling down post studies according to the rules of the bank or the financial institution.

Look for a Job

It is quite common among students abroad to work as a part-time or something casual which can help them to manage their monthly expenses. There are placement cells inside the university who help the newcomers to find such work.

“Experience Travel - these are Education in themselves.” - Euripides.

We all are learners in this world and nothing can be better than visiting different places and knowing about a new culture, the lifestyle, intellectualism etc and studying abroad provides us with this opportunity. Now, let’s give wings to our Beautiful Dreams!