Study Abroad in Budget
The decision of studying abroad is not easy. It involves a lot of cost for tuition fees and as well as living expenses. There are several options which can make your dream of studying abroad easy and within your budget.
Scholarships: There are many universities in Australia, New Zealand and Canada which are offering scholarships to the students who have scored 70% and above in Class 12 or in graduation. The amount of the scholarship varies from university to university but it generally covers 20-25% of the tuition fees. There are a few universities which are offering Scholarships for accommodation too and which cover some part of the accommodation costs.
Education Loan: Apart from the scholarship, the other option you can opt for is to get the Education loan. There are several government and private banks giving education loans to the students applying for universities abroad. The interest rate varies but with most of the banks, the repayment will start only after the student has completed the course and started working or within the first year of course completion thus it will be easy for you to start working and re-pay.
Choose your Country wisely: The living expenses are different in every country. It’s not just accommodation but Food, Transportation and other amenities also that vary in cost from country to country. Thus, while making a choice of studying in the best country; it is always a good idea to jot down all the important rough expenses and make sure to make the choice accordingly.
Choose the right Institution for studies: The ranking of the universities matters but it puts a lot of burden on the pocket too as the tuition fees are generally very high in those universities. If you are looking for a good university within your budget, go with the course-wise university ranking and choose the facilities offered by the institution instead of just choosing a ranked university. That way, you will be getting the university that is best in that course and the tuition fees will be affordable too. There are several polytechnics and TAFEs (Government colleges) offering similar courses with very low tuition fees.
Student Discounts: While studying abroad, you can get the benefits of student discounts which are offered by many countries and states. With the Student Card, you can avail the benefits of Free/ discounted rate transportation, free WiFi and many other facilities.
Apart from the points given above, some universities offer different payment plans where students can pay fees term or semester-wise instead of paying annual fees.
Financial planning is not about holding you back from getting the best, it is just about planning wisely as sometimes by exploring the options you can get something which is cost friendly too.
It is always a good idea to Plan, Set and then Implement.