IEFA

Scholarships, Grants, Loans, oh my!

March 5th, 2012 by Jennifer Frankel

If you are planning to study overseas, you may find that going to school in a foreign country can be costly. While you will still have to cover your tuition, books, and living expenses, now you’ll need to factor in additional flight costs, exchange rates, health insurance, etc. While there is no doubt that studying overseas can help you become more competitive in the job market and advance your career, the immediate dent in your wallet could take a toll.

Whether you are an international, study abroad, or foreign enrolled student, you may – like many students – consider looking for external sources to help finance your education. But where should you look? Scholarships, grants, and loans are a great first step to get the funding you need:

Scholarships

Scholarships are a great way to fund your education since you do not need to worry about paying back the money you receive. Some schools provide scholarships to their students based on financial need, or based on your academic merit. Contact your school to determine the availability along with any requirements and deadlines that you may need to meet.

Additionally, there are scholarships that are provided by independent organizations based on a wide range of criteria. Ever heard about the travel video contest by International Student? They awarded $4,000 to the winner for their video describing why they want to study abroad. Because these scholarships are offered by independent organization, there are a wide range of opportunities as they are looking for students with special qualifications, such as academic, athletic or artistic talent.

Check out International Scholarships to begin the scholarship search.

Grants

Grants are typically granted to students based on financial need by a non profit organization, educational institution, government division, business or individual. The higher your financial need, the more likely you are to be awarded a grant – however this can be quite difficult for an international student.

Unlike scholarships that consider other factors such as field of study, qualifications, etc., grants require students to show that they need the grant based on academic need. However, like scholarships, once the money is dispersed, you do not need to worry about paying it back to the organization.

Check out International Education Financial Aid to see what grants are available.

Loans

Unlike scholarships and grants, international student loans are dispersed to those students who apply for the loan. Once the money is dispersed, you will be responsible for paying back the money you borrowed PLUS interest. Loans are typically easier to receive than scholarships and loans, but international students in the US will need to have a US cosigner in most cases who have spent at least 2 years in the United States.

Keep in mind that there are only certain lenders that will loan to international students. Eligibility will be determined not only lender, but also by school. Before beginning the application process, you may want to check to see if you are eligible. Our partner International Student Loan has also done this process for you where they compare lenders based on your eligibility.

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Canada: Scholarships for International Students

Posted in International Scholarships, International Student Loans

41 Comments

  1. keerthana says:
    May 25, 2014 at 8:29 am

    Hi I have got 92% in 10th ICSE. I am interested a lot to study more but due to financial problems I am not able to study.so I request you to help me by helping me financially or by providing me scholarship.pls help me to study.I want to become an engineer.so pls help me to study more..

    Reply
  2. Gursharan kaur says:
    April 23, 2015 at 12:43 pm

    hi.. I’m from India.. I have to do study in foreign. I’m good in studies.. but have financial problem.. please help me and tell me what to do. please anybody ..

    Reply
  3. Mumukunde Bernadette says:
    September 11, 2015 at 1:00 am

    Hi!am Bernadette,Rwandan I covered my A1 in midwifery but I have no mean to continue with bachelor’s. and in my country we have no bachelor’s for midwifery but only for educational midwifery. so please I need help for my studies. for more info please contact me on mumudete2020@yahoo.fr

    Reply
    • Bryanna Davis says:
      November 11, 2015 at 12:30 pm

      Hi Mumukunde,

      Thanks for visiting. Are you looking to find a program in the US or are you looking for funding? If you’re looking for funding you can check out our list of scholarships and lenders. If you’re trying to find a school in the US you can visit here.

      Reply
  4. Meseret Gudissa says:
    September 18, 2015 at 8:16 am

    hello i need your help to study my education .i want to study my degree in foreign but i have financial problem.please please i need help

    Reply
  5. Ebenezer Adu Gyamfi says:
    November 4, 2015 at 2:42 am

    how can I get the chance to further my education in abroad. am studies nursing and I wants to do degree

    Reply
  6. josef johannes says:
    February 26, 2016 at 4:34 am

    I would like to be awarded a bursary because I am in financial crises.crises. I’m admitted to the University in Namibia but I have no any option to pay my studies.

    Reply
  7. francis banda says:
    March 13, 2021 at 11:06 pm

    A first year bonafide student of Sharda University in New Delhi India looking for loan, scholarship or grants to complete my studies am desperate on how i can fund my studies after removed from pay roll soon after enrolled in University I only managed to pay for first semester of my studies from last previous saving from my employer please any kind of assistance at this critical moment is welcome

    Reply

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