Studying abroad can be one of the most rewarding and life-changing experiences of your life. However, it isn’t free and you’ll have to make sure you have the money to support your studies. Studying abroad helps your personal development and you can manage the overall cost by budgeting wisely.
So, how can you finance your studies abroad? And is there any support available for you to take advantage of? This post will outline everything you need to know so that you’re fully prepared for your studies overseas.
Read on to find out more about:
- financial assistance from your own country and large companies who may be interested in employing you
- international organisations that can offer financial aid
- family-funded study
- scholarships assisting you with your studies
Financial assistance from your own country and large companies who may be interested in employing you
Some of the main sources of funding for your studies may be available from your own country. The financial assistance that you receive may either be from the local government or a sponsorship from a large company. A large company could benefit from your degree and be interested in employing you after completing your studies.
To see what’s available to you, we recommend that you contact your local government. Most will have websites so take a look at their page to see what they can offer to students in your position.
Targeting larger companies is typically more successful due to their bigger budget. Most smaller businesses don’t have the disposable income to sponsor students to go and study abroad.
Once you’ve shortlisted as many as you can, start to send letters to them enquiring about study assistance. One thing to consider is that funding from your own country may have a special requirement - you may have to return home to work after completing your studies. Always check with who is providing the funding to be sure beforehand.
International organisations that can offer financial aid
There are various organisations around the world that offer aid to international students. Some of these include:
- The United Nations
- World Health Organisation
These grants are very popular so we recommend that you start to look for them early. Some organisations require you to be in your home country when applying, so it’s best to start looking and applying long before your studies are due to start.
Family-funded study
Nearly 65% of all international students are funded by their families. This shows that family is the biggest source of income for international students. Therefore, before studying abroad, have a chat with your parents, grandparents and even aunts and uncles to see if you can draw up a financial plan.
Be smart about the way you approach them though; don’t take things for granted and be grateful for the help.
Scholarships assisting you with your studies
Scholarships are another way to finance your studies abroad - though it's extremely competitive. You'll be competing with your fellow peers so in your application, make sure that you highlight your best qualities and traits. Express why you deserve the scholarship.
There are various different ways to finance your studies abroad. When you have set your budget, managing money whilst over there will be easy.
Studying abroad is an amazing journey but it’s not just your finances that you need to have in place before you make the move.
Prepare for your move abroad
As we’ve mentioned, moving abroad to study is an amazing experience. But when moving to the other side of the world, there are various things that you’ll need to have in place in order to start your degree. Whether that’s crucial documents like your visa, or your laptop to help you do your work, you’ve got to remember lots of vital things when preparing.
Luckily for you, we’ve put together a dedicated International Students page to help you prepare for studying in the UK.
