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How to Pay for College

Families allocate a considerable amount of money in their child's study abroad dream. And in the process of this, they are often faced with difficulties, as an aspiring international student there are several steps that you can undertake to ease of the burden from your parents and find ways to pay for college.

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Here are some tips that you could use when looking to pay for college:

Selecting Universities

Before you look at any other avenues for sourcing your education abroad, what is important to note is the fact that students are required to be extremely pragmatic in their approach of selecting universities. Public universities or government funded universities tend to be more economical when compared to private institutions. Therefore, when looking for avenues to pay for college it is important that you pick a university that is economical.

Cost of Living

Apart from your tuition fees there are several other living expenditures that you will incur which will have an effect on your spending. Students are required to find themselves accommodation, which can be expensive in some cases. Universities also provide on-campus housing facilities while at the same time there are also private accommodation facilities. Private accommodation facilities tend to be cheaper when compared to university facilities. Therefore, it is best if students take a careful look into the cost component when deciding their accommodation. Food is another factor that takes a considerable portion of the budget. Whilst it fun to be exploring the many facilities your study abroad destination has to offer, remember to be responsible. Limit eating at restaurants and also grocery stores that offer the best deals.

Jobs

It is imperative that as an international student you indulge in part time jobs. Part time jobs are not only important because they allow you to put the knowledge you learnt in the classroom to practical use, but it also allows you to earn some extra money. The exposure you gain whilst working in a foreign country is unparallel.

Scholarships

Scholarships are form of financial aid provided to students to ensure that certain burdens of attaining an overseas educationis lifted off their shoulders. Students can gain access to multitude types of scholarships, some of these include, Merit Based Scholarships which are granted to students on the basis of their academic or athletic achievement, artistic ability, participation in other extra- curricular activities, etc. Student Specific Scholarships are available to applicants based on a certain criterion of gender, race, religion, ethnicity or medical history. Need based Scholarships are grants offered to help a student meet his/her college expenses. Eligibility is based solely on the assets and income of the prospective student and his or her family and in some cases, test scores. Need-based scholarships and grants are money covers for students with a financial need. Program / Career specific scholarships are offered by individual programs or by the colleges and universities. These scholarships are granted on the basis of a student's academic profile and personal achievement. Destination/ College Specific Scholarships are awarded to students by the country / institute they plan on pursuing a program in. These are scholarships awarded by a country to students planning to pursue a study abroad program in that particular country. University Scholarships are grants, tuition waivers etc awarded by the institution on grounds of institutions preferences. Indian Scholarships are made available on the grounds of enabling Indian students to work towards achieving their full potential. International scholarships are for international students which offer, not just cover the tuition fees, but also the living expenses/stipend, travel expenses and more. They are awarded by countries to international students coming into the host country.

Assistantships

Another prominent way student can pay for their college include assistantships. There are several forms of assistantships that students can undertake to fit their needs. A research fellowship is a researcher employed by a university, for the purpose of assisting in academic research and have a fixed salary. Research fellows typically work for academic staff and faculty members at universities, conducting their research independently or with another faculty member. A teaching assistant is an individual who assists a professor with instructional responsibilities. With tutoring, holding office hours, invigilating tests or exams and overall assistance. A graduate assistantship allows graduate students to work for their respective college or university and get some form of a stipend along with bonus of free tuition. A resident assistant is a trained peer leader who supervises those living in a residence hall or group housing facility. The Resident Assistant (RA) facilitates the social, academic, and personal adjustment of students to the residence hall and University. RAs earn free room and boarding with a lower cost of attendance for the year.

If you want to learn some more tips and tricks on how to fund your college abroad attend the Education Loan & Forex Virtual Mela by Edwise.

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Edwise Overseas Education Consultant

We at Edwise streamline and personalize the process for each student irrespective of the destination, institution, course or any level of study. Our team of experienced professionals will provide you individual attention and exceptional guidance throughout your process of application. We provide assistance related to course selections, admission, visa, bank-loan and scholarships. We also host University delegates for direct student interaction and all these services are provided free of cost. We have established since 1991 and have been maintaining strong networks with over 725 universities in 16 countries, hence giving us a unique insight into the finest educational establishments worldwide.


Also read: The effect of COVID on university admissions in UK



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