How to Finance Education in Abroad

With dozens of funding options available, now every student can fulfil the dream of studying in a foreign country. Right from education loan, scholarships, private fellowships, subsidy schemes, student prizes, there are multiple ways to fund the international degree. 


In this blog post, we are going to know about various ways of funding an international degree.

5 ways to fund your Overseas Education:


Avail an Overseas Education Loan

The first option that can be considered to fund an overseas degree is student loans for studying abroad. Study Abroad Aspirants can avail a Secured or Unsecured overseas education loan from four types of financial lenders i.e., nationalized banks, private banks, NBFCs and international lenders. Availing an education loan is a good choice if the repayment is planned before hand as it offers multiple benefits. 


Apply for the University Scholarships

To attract some of the brightest minds and give a fair chance to students belonging to every economic class, international universities offer various scholarships for the eligible candidates. These scholarships can be partially or fully funded and is majorly based on the academics. Some universities also offer scholarships based on English language proficiency scores. Students should check the university website for details and send an application before the deadline passes. 


Government Subsidy Schemes and Scholarships

Indian Government offers various caste-based subsidy schemes for the Indian students willing to pursue their higher education overseas. These subsidy schemes are usually partially paid and has a specific criterion.
Other than subsidy schemes, there are various scholarships that are offered by Indian government for encouraging more and more students to gain international studies. For specific details, students should visit the website of education department of Indian government to check one’s eligibility.

 

Look for a Private Fellowship 

Private fellowship is a funding option that is offered by private multinational companies like TATA and Reliance. These fellowships are provided to the Indian students for few specific courses and institution. Students should check the official websites of these companies for details. Although the fellowships are offered to a limited number of students, students having a strong academic background student should apply for the same. 


Student Prizes are the great way to fund an education overseas

Majority of international universities offer student prizes to the students for their academic achievements. These are one-time prizes and can waive off the tuition fees of one or two semesters. Students also get a title of ‘Scholar’ for that year along with the student prize.
So, these are the five funding options for financing an international degree in a foreign university. Students can choose to apply for any of these as per their eligibility. If they are applying for an education loan at a private or a nationalized bank, it is advisable to submit the online loan application for abroad studies at least six months prior to the admission date. 


For scholarships and fellowships, students should keep a track of deadlines so that they won’t miss out on a good funding opportunity and submit their application at the earliest possible as there are a huge number of students applying for scholarships. 


We would suggest study abroad aspirants to apply for as many scholarships they can as it will improve their chances of getting a funding option. For any kind of assistance for the overseas education loan process.

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