Studying abroad is exciting and a dream for many aspirants, but at the same time, it can be daunting for a few. However, when I mention daunting, I’m pointing to the tuition fees, accommodation, and living expenses while living abroad. But with proper & strategic planning and having information on various funding sources, you can transform your study abroad dream into reality.

Here, we will talk about ways to finance studying abroad without relying on education loans only!

a) Look for Scholarships and Grants Option

Many foreign universities offer scholarships & various grants to support students in need. For instance, Chevening scholarships program offers full financial support to study at any UK-based university for any eligible master’s degree.

Hence, you can investigate these available options and even reach out for assistance related to these grants.

Also Read: Fixed Deposits: 40 banks offering up to 9% interest rates on FDs in June

b) Work Part-Time During Work-Study Programs

Work-study programs are offered at various universities for students looking for part-time jobs to maintain their finances while studying in the country. These programs offer part-time, paid on-campus employment to eligible undergraduate and postgraduate students at the university campus.

To participate in work-study programs, you can seek on-campus employment or internships that directly align with your enrolled field of study.

c) Start Saving Money and Spend Wisely

Next, if you’ve investments such as any FD or personal savings, try not spending them without any emergency. Consider how you can save these resources to fund your university tuition fees. For that, assess your investments or savings to acknowledge how much amount you can spend against your tuition fees.

Furthermore, you can even opt for the potential return on investments (ROI), and liquidating assets can be a good option.

d) Research Destinations with Lower Tuition Fees

If you’ve not yet enrolled in any university, one alternate option is to go for an affordable study-abroad destination. Research universities with lower tuition costs, country/area where housing prices are comparatively lower, and career opportunities are diverse.

Explore university databases and compare the costs of your potential destinations to get your desired degree. Moreover, contacting any international student or education consultant can help you frame an estimated budget for different study destinations.

e) Seeking Employer Sponsorship or Tuition Fee Reimbursement

This option is suitable for all employed students who are currently doing any job. You can ask your employer whether they can offer sponsorship programs or tuition fee reimbursement in support of your further education in a foreign university.

To do it, build proper communication with your company’s HR department to understand their policies regarding employer education sponsorship or reimbursement.

f) Seek Financial Assistance from Your Home Country

If nothing works out, there is one more option you could opt for to fund your tuition fee! Engage with your country’s local communities, religious groups, or organizations for financial assistance. Ask if they are willing to support for your educational journey in your dream foreign country.

Hence, build network with individuals, share your story and ask if they can offer financial assistance or sponsorship to shed light on your journey overseas.

Conclusion

Remember, nothing is impossible when you have the right support towards your odyssey anywhere in the world! Keep dreaming big and for any kind of assistance rely on experts for a smooth path to this beautiful journey!

(By Mamta Shekhawat, Founder of Gradding.com)

Disclaimer: Views and facts expressed above are those of the author. They do not necessarily reflect the views of financialexpress.com.