The thought of financing an international study in advanced countries is quite expensive for citizens of the developing countries. Some of the expenses that would be incurred include tuition, housing, transportation, feeding and on-going costs. All of these costs sum up to exorbitant amounts, that is enough to kill the dream of citizens of the emerging markets. Nonetheless, according to the old timeless proverb, “wherever there is a will, there is always a way,” if the desire is strong enough, then the goal of an international study can be attained. You can bank on the fact that at Clarity, we got you covered and would go the extra mile to ease your study abroad. There are other methods that could be explored to fund your study abroad. Some of the other methods that can be considered to fund an international study, rather than self-funding include:
This is the most populous alternative, which many students turn to when they are interested in studying abroad. Now, let’s quickly quell some doubts about scholarships and how to apply for them. Scholarships are not strictly just for Grade A students, there are scholarships that 2.1 or even 2.2 students can apply for and get. Also there are different categories of scholarships, ranging from merit-based scholarships, government offered scholarships, and specific scholarships which are meant to help cater for students from ethnic minorities, from a certain part of the country, students with disabilities or special learning disabilities. All of these scholarships are meant to serve different categories of students, undergraduates, Masters, and PhD. So you should research more on which of them would fit your needs, preference and would align more with your unique situation.
Grants basically, are a type of financial aid that doesn’t have to be repaid. Compared to scholarships which are usually merit-based, grants (called bursaries in some countries) are mostly need-based. Grants or bursaries are usually based on financial circumstances but may also consider other factors (e.g. physical or mental disabilities). Federal governments of some countries give grants to their citizens to study abroad. In Nigeria, for example, Federal bodies such as NDDC, TetFund, PTDF give grants to students they select after a screening exercise. There is also an on-going Bilateral Educational Agreement by the Ministry of Education of Nigeria with some countries. This form of financial support doesn’t need to be paid back and its value most times varies from 500 to 2500 USD.
Applying for student loan is another viable possibility that could be explored. Students loan could be obtained from private banks in your home countries or country of study. There are some organisations that make loan facilities accessible to international students, which can be repaid back, when they graduate and start earning. Acquiring a student loan is a feasible option that should be considered. Nonetheless, there is need for caution throughout the whole process. It would be great if a thorough research is carried out before anything is ventured into.
Study abroad is no longer just for well-to-do students at elite private schools. More and more, it is -becoming the norm, an expected part of a complete education in an interconnected world. With effort and determination, almost any student can find a way to fund their study abroad.