Funding to study abroad: How do you fund your study abroad program?

March 29th, 2022 by Sagnik Santra

funding to study abroad

Studying abroad is an amazing opportunity. It opens your mind and broadens your perspective on the world. But, it can be a costly endeavor. That’s why many students rely on outside sources of funding to help them pursue their study abroad goals. There are several ways you can fund your study abroad program including scholarships, grants, loans, and even crowdfunding.

If you are looking for scholarships to help fund your study abroad experience, start by searching the internet and your campus study abroad office. Many organizations offer scholarships specifically for study abroad students. In this article, we will be discussing some of the different ways you can fund your study abroad program. So let’s get started!

Why it is hard to fund your study abroad program?

For many students, the opportunity to study abroad is a once-in-a-lifetime experience. However, the high cost of tuition, airfare and other expenses can make it difficult to finance a study abroad program. Here are some of the reasons why study abroad programs are hard to fund:

1. Tuition fee:

Tuition fee is probably the biggest obstacle when it comes to studying abroad. The cost of tuition for international students is often higher than the cost of tuition for domestic students. The average cost for undergraduate courses in the USA is $26,000 to $35,000. And when it comes to postgraduate courses it’s around $40,000 to $50,000.

2. Living expenses:

funding to study abroad

The second biggest obstacle is the cost of living. Expenses such as accommodation, food, transportation, and other daily expenses can add up quickly. In Europe, the average monthly cost of living is around €700 to €1000. And in the USA, it’s even higher with an average monthly cost of living of around $1200 to $1500. It can be even higher if you move to more developed cities like New York or London.

3. Flights and visas

Another cost that you need to consider is the cost of flights and visas. Depending on where you are going, the cost of a flight can be very expensive. And if you are going to study in a country like the USA, you also need to factor in the cost of getting a student visa. The average cost of a student visa for the USA is around $160.

4. Books and other materials

Another cost that you need to consider is the cost of books and other materials. Depending on your course, you may need to buy textbooks, which can be very expensive. In addition, you may also need to buy other materials such as a laptop or printer.

What are some of the best ways to fund your international education?

As you can see, there are several costs that you need to consider when funding your study abroad program. But don’t worry, there are several ways you can finance your experience. Here are some of the best ways to fund your education:

1. Financial aid:

One of the best ways to finance your study abroad experience is through financial aid. If you are a US citizen, you may be eligible for federal financial aid or federal student aid. This includes grants, loans, and work-study programs. You can also apply for scholarships and grants from a private organization, foundation, or financial aid office. If you are an international student, you will be able to apply for international financial aid programs as well.

2. Study abroad scholarships and grants

funding to study abroad

Another great way to finance your study abroad experience is through scholarships and grants. Many organizations offer scholarships specifically for students who want to study abroad. You can search the internet or your campus study abroad office for a list of scholarships and grants. Countries like the USA, UK, and Australia offer great scholarships for international students

3. Student loan

Student loans are some of the best financial tools to finance your international education needs. Student loans offer many benefits such as low-interest rates, long repayment terms, and deferred payment options. You can apply for student loans from the government or private lenders. Also, you have to remember that student loan debt is a huge issue, so make sure to manage your finances.

Top scholarships for international students to study abroad

Here are some of the most popular and generous scholarships for international students to study abroad

1. Fulbright Scholarships (USA):

The Fulbright Scholarship is a prestigious scholarship program that is funded by the US government. The scholarship is awarded to students from all over the world who want to pursue a master’s degree or Ph.D. in the United States.

2. Chevening Scholarships (UK):

The Chevening Scholarship is a fully-funded scholarship program that is awarded to international students from over 160 countries who want to pursue a master’s degree in the United Kingdom. It is one of the most prestigious and competitive scholarships in the world.

3. Eiffel Excellence Scholarship Programme (France)

If you are planning to study in France, you may be eligible for the Eiffel Excellence Scholarship Programme. The scholarship is awarded to international students who want to pursue a master’s degree or Ph.D. in France. The scholarship aims for academic excellence and cultural diversity.

4. DAAD Scholarships (Germany):

funding to study abroad

The DAAD scholarship is a German government-funded scholarship program that is awarded to international students from all over the world who want to pursue a degree in Germany. It is one of the most popular scholarships for international students.

5. Australia Awards Scholarships:

If you want to study in Australia, you may be eligible for an Australia Award Scholarship. The scholarship is fully-funded and is awarded to international students from developing countries who want to pursue a degree in Australia.

How to apply for scholarships?

Getting a scholarship in international colleges is a competitive task. Here are some tips on how to apply for scholarships:

1. Start early

One of the best ways to increase your chances of getting a scholarship is to start your search early. The earlier you start, the more time you will have to find and apply for scholarships. You don’t want to stay behind in the competition. So keep yourself updated with the latest dates and deadlines.

2. Do your research

Before you start applying for scholarships, you must do your research. You need to know what type of scholarship you are eligible for. There are many different types of scholarships available such as need-based, merit-based, and student-specific scholarships. You can use online resources or visit your campus study abroad office to get more information on scholarships.

3. Stay organized

When you are applying for scholarships, it’s important to stay organized. Keep track of all the scholarships you are applying for and their deadlines. This will help you stay on top of your applications and increase your chances of getting a scholarship. Also, keep your documents and materials ready so that you can easily submit your application.

4. Follow the instructions

funding to study abroad

When you are applying for a scholarship, it’s important to follow all the instructions. Make sure you fill out the application form correctly and include all the required documents. Any mistakes in your application can lead to your application being rejected. So be careful and make sure you follow all the instructions.

5. Apply for multiple scholarships

One of the best ways to increase your chances of getting a scholarship is to apply for multiple scholarships. The more scholarships you apply for, the greater your chances of getting one. So don’t limit yourself to just one or two scholarships. Apply for as many as you can.

Conclusion:

So there you have it! Studying abroad is not an easy task. But with the right planning and preparation, it is achievable. And remember, there are many resources and scholarships available to help you fund your study abroad program. So don’t let the cost of studying abroad deter you from your dream study abroad program. Just do your research and explore all your options. Good luck!

6 Comments

  1. Moses manono Angima says:

    I beg for scholarship

    • Al C says:

      You can view scholarships that you might be eligible for by clicking on the following link:

      https://www.iefa.org/scholarships

      You can browse the awards or use our quick search tool, which will narrow down the scholarships based on what you are studying, where you are studying, or where you are from.

      After you find a scholarship you are eligible for or interested in, you will need to contact the institution responsible for the scholarship directly. They can assist you with the application process and any questions you might have.

      You can also find out more in this post: https://blog.iefa.org/2021/02/15/how-to-find-international-scholarship/

  2. Benadeth PrinceDavid says:

    I want to apply for the admission and the scholarship, please how do I apply .

    How do I apply for admission and the scholarship

  3. Molder JOSEPH says:

    I am student of master’s degree in Art in criminology and criminal justice / ESL visiting at the Kent State University, OHIO United States, May 12 2022

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