Is Studying abroad expensive? Read the blog to find out the top 5 ways to get funds to study abroad through Scholarships, Loans, and Awards!

Study Abroad is exciting and brings many different experiences with it. Global Opportunity to meet new people from various countries, following different cultures. Every piece of surrounding can offer you to explore, be it food, places, music festivals, universities, language, and many more!

5 Best Ways to get funds for studying abroad!

Some ways to make your study abroad journey smooth and hassle-free, without any worry about finances and money expenses.

1. Scholarship grants

Universities worldwide offer many scholarships to students to support them in completing their study programs. Many types of scholarships, like, need-based, merit-based, government-funded based, and many scholarships for international students. Scholarships can help international students to have a financial backup.

Need-based Scholarships

These are exclusively available for students who require financial aid, and University gives such scholarships.

Merit Scholarships

Students with excellent academic scores and grades can get such merit scholarships. These scholarships are the most common type of scholarship that comes to the mind of students.

Private-Funded Scholarships

Scholarships by private organizations are specifically for a particular group, women, or students.

Scholarships funded by the Government

Many scholarships are granted by the government and given to the students, eg - Hubert Humphrey Fellowship Program, Chevening scholarship, and many more.

Academic Scholarships

Students getting excellent marks and scores are eligible to get such scholarships, institutes, organizations, and colleges give such scholarships.

Sports Scholarships

Students passionate about the field of sports and who have won prizes and titles at various competitions can get such sports scholarships

However, many other scholarships are given to students who are hustling and struggling hard to complete their education. The financial support narrows down the problems of international students.

2. Loans

Loans by the banking and financial institutes can have a better way of financing your study abroad journey and that too with better and safe options. Loans can let you study abroad without any constraints. The student can take the loans with easy documentation on a minimal interest rate and it gives you the liberty to return the loan amount along with interest after the completion of the studies after a particular period.

Many countries like Brazil, give international students financial aid and assistance to smoothen their study abroad journey.

3. Part-Time Job Opportunities

If you are a student who wants to study abroad but facing managing expenses, then part-time job opportunities are best for you. Many countries offer part-time work visas to international students, including Canada, where you can work and get paid approximately $19/ hour. However, the challenge is managing the studies with a part-time job. Before you start looking for a job, check your visa and the work limit mentioned by it.

4. Exchange programs

The exchange programs are very cost-effective. In student exchange study programs, the institute in the homeland has several partner institutes in other countries that help you study in a foreign land for some time.

Many student exchange programs help you study abroad, such as,

Short- Term
Long- Term
Fulbright Foreign Student Program
Rotary Youth Exchange Program
University of Chicago Exchange Program
ISEP Student Exchange Program
Japan Student Exchange Program

What are the Benefits of the Student Exchange Program?

The student exchange program gives several benefits like

A different experience
Better global job opportunities
Experience learning from top educators and faculty
Chance to learn a new language
Getting new networks worldwide

5. Sponsorships

A sponsor or VISA sponsor is a company, institute, firm, or individual who lets you study abroad by covering all your expenses for your studies. Just Like other financing options, sponsorships also have some particular criteria to get financial aid. It depends on the degree or type of study program you want to study abroad.

There are various types of sponsorships,

Corporate Scholarships

These types of scholarships are given to you by some corporate or private organization, wherein the individual approaches the company. Payment of the fees and sometimes the living expenses are handled by the student. You can get such sponsorship while you are pursuing your bachelor's or master's degree.

Company Scholarships

The fees will be granted by the company as a subsidy, along with some mentorship and work experience.

Family

Your mother, father, wife, husband, children, or first-degree relatives can also sponsor your study abroad degree. In some specific cases, like if your first-degree relatives are not present, your guardians can also sponsor your abroad expenses.

Hence, we can conclude that if you intend to study abroad, financing your studies is not a difficult task to accomplish. You can get scholarships, loans, sponsorships, and many more to get support in fees and expense management. But if you are still confused, you can visit the College Vidya Abroad website and talk to our counselors for free, and you can get easy loan approval from 10+ leading financial institutes. Make your study abroad journey successful with College Vidya Abroad.