Have you cleared the entrance examination for admission to foreign universities? Don’t rush to get into the colleges. Take some time and evaluate everything. The universities also give you ample time to introspect yourself with proper planning. Since you are new to the place and none of your relatives or friends live there.
We will provide the top 5 tips for your financial planning if you have prepared yourself to study.
Scholarship
You should do thorough research about various universities of your study abroad destination. Visit their official websites. Try to get the details of the scholarships offered by the universities. Check your eligibility for the scholarships. Apply for those scholarships that vary from a thousand dollars to full exemption of tuition fees. Even if you won’t get a full exemption, it would still be great in your expenditure for overseas education.
Loans
Did you get your offer letter from the university? Now is the time to approach the banks. Try to find out the banks offering education loans with lower interest rates. A better way of spending money on education than wasting your parent’s savings. Since repayment of loans always drives you to derive maximum benefits from the study abroad goals. Since it will remind you of the responsibility. It also instils in you the motive of leading your own life and becoming independent.
Government Help
You can check the central government schemes to fund your education. The Indian government has a collaboration with many international organizations and universities and offers scholarships for study abroad programs. Find out if your state government has any such scheme to fund your study abroad program.
Telangana and Andhra Pradesh fund nearly 10 lakh Rupees per year per student for their abroad education for a particular category of students.
Part-Time Jobs
Even though a part-time job seems a little tough and straining when you start, it gives relief from half of your study abroad expenditure if you have the patience to do it. You can also check out your college to see if they have any in-campus part-time roles. This will help you to reduce commute time and you can be more focused.
Create a Budget
Figure out your overall expenses by creating a budget. List out the amount spent or to be spent on food, souvenirs, travel, and miscellaneous for every week. This will help you to make proper planning for your overseas education.
Still have questions? No need to worry! UrbanCoach has study abroad consultants who will be with you all the time, and provide you the support you need for your overseas education. We chose the best program for you and help you to pass through the application process, we are here to guide you every step of the way.
Do a quick overview of our blog post on the personality change that studying abroad can bring. Click below, you’ll find it insightful!