How to Finance Your Studies Abroad? Starting early and doing long-term saving is an ideal way to fund an education but this option might not be practical for everyone. An international degree can be one of your most prized professional assets in the current economy, yet there is a vast majority of students who are apprehensive of taking up this option due to monetary constraints.
It is true that study abroad programs are not exactly pocket friendly, but with the host of funding options available, they are certainly affordable. More than half the students give up the idea of studying abroad just because the whole research process of funding options is too comprehensive and tedious.
Calculate your costs
Most study abroad programs come with a tuition fee. On top of that, you will need money for accommodation, traveling, insurance, course material, food, and leisure. Do you have enough money to fund your studies abroad?
Calculate your costs to make sure you can afford the program that you are interested in. You do this by summarizing all the expected expenses that we listed above. Many schools also have estimates for how much money a student needs to study there. This amount is usually mandatory in order to get a student visa.
The total cost of student Visa has been mentioned for Australia and Canada respectively.
You can do cost comparison of EU countries, mentioned below. While, Few of them have low cost for student visa.
- What is total cost to Study in Italy?
- What is Total Cost to Study in Hungary?
- What is total cost to Study in Belgium?
- What is total cost to Study in Spain?
Study Cost Comparison of Baltic States: In recent years, the three small Baltic nations have become increasingly popular with international students. With many different cultural influences, they offer a truly unique study abroad experience.
- What is Total Cost to Study in Latvia?
- What is total cost to Study in Lithuania?
- What is Total Cost to Study in Estonia?
Study Cost Comparison of Scandinavian Countries: These countries are usually all ranked top 10 in the world for happiness and quality of life. They have a strong social safety net offering free education and free healthcare for their citizens and for other EU citizens as well.
- What is Total Cost to Study in Sweden?
- What is total Cost of Studying in Denmark?
- What is Total Cost to Study in Norway for Free?
- What is total Cost to Study in Finland?
Study Cost Comparison of Countries, which offer almost free education for Non-EU Students:
- What is Total Cost for Austrian Student Visa?
- How much does it cost to Study in Germany?
- What is Total Cost to Study in Norway for Free?
If you don’t have enough, you will either need to change your plans or find a way to get more money.
Here we look at different ways to finance your studies.
Government grants and loans
Some countries, not least the Nordic countries, give students grants and loans for higher education. You can apply for this when you study at recognized schools abroad, and if the program you are taking is not too expensive, you might be able to cover all your costs with the government grants and loans.
If your home country doesn’t offer student aid programs, another possibility is to get student loans from the country where you will study. Ask your school for more information about this.
Another way to get funding for your studies abroad is to apply for scholarships. They are quite common in countries, where tuition fees are high.
The school where you will study is the most likely scholarship giver, especially if you study at a big university. Students who maintain good grades can often get a scholarship that reduces their tuition costs by 10- 100%.
Some schools also provide financial aid for poor students. However, it is very rare to get a full scholarship on undergraduate level. Scholarships can be a help, but they will not cover all your costs.
Read more in our scholarships guide.
Part Time Jobs
When you are studying abroad, you may find that a part-time job can really help pay a few extra bills or fund leisure activities and travel that would have otherwise been outside of your budget.
Working on campus is one of the most popular options for international students. There are many different jobs offered on campus, from working in the writing centre, as a teaching assistant, in the cafeteria, to computer centres. Another on-campus option is working for a students’ union.
There are many jobs offered at the bars, restaurants and cafés in the surrounding towns and cities, and this might be the easiest way for you to find employment.
Some international students find employment at call centres. This is a good choice for those who are communicative, friendly and confident in their language and/or computer skills.
A common way to begin your employment journey can be through the customer service related job posts. Customer service employment can often be part-time and available to first-time job seekers because the training will happen on the job and flexible work shifts.
It may be possible for you to find an internship within a company relevant to your field of study, otherwise known as co-op or placement. Being an intern gives you some much-needed experience and it opens numerous opportunities.
Finally, it is worth noting if you are not comfortable working during term time or your study weeks, you can also find part-time or full-time hours during the summer, when you do not have any classes.
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