17/11/2021
However, there are other ways that can be combined with savings to bring an overseas degree within your reach. Let’s take a look at them:
1. Scholarships and grants
Scholarships are sometimes provided by foreign institutions based on merit or some other criteria. There are also various organizations that provide scholarships to those who wish to study abroad. These scholarships are need-based, merit-based, diversity-based, etc.
2. Systematic Investment Plan (SIP)
This option is ideal for working people who wish to pursue higher studies in a foreign university. However, the number of years at their disposal is key to determining if this way of funding will work effectively. SIP is a process that requires the customer to invest a certain pre-determined amount in a specific mutual fund scheme on a regular basis - weekly, monthly, quarterly, etc. It is a smart practice as it fulfills two purposes: saving and investing.
3. Education loans
Student Loans, as well as loans for individuals wanting to study abroad, are easily available. After saving and maximizing the scholarship option, a loan can be availed of to meet the additional costs. A foreign degree grants credibility to one’s profile, which translates into quicker promotions and raises. Thus, a loan for foreign education can be easily repaid.
It goes without saying that a good deal of research on potential scholarships is necessary. One should begin their search for scholarships a year before admission has to be taken. Some programs such as Rotary Foundation’s Ambassadorial Scholarship Program specialize in providing aid to students for studying abroad. fund scheme on a regular basis - weekly, monthly, quarterly, etc. It is a smart practice as it fulfills two purposes: saving and investing.