Studying abroad is a
journey that comes with many benefits such as: world class qualifications, excellent
education facilities, the opportunity to learn a new language, it’s a great
cultural exchange platform, in some countries it gives you a ‘passport’ to
leading jobs and opportunities. All of the above reasons certainly makes
studying abroad most desirable.
The key question is
therefore how do I finance it?
·
Parents and family: this
remains the most common way to fund your studies overseas. In some cultures the
entire family rallies around to send that one child to ‘pastures green’. Most
parents make some kind of plan to send their ward abroad without relying on any
outside help.
·
Scholarships from their home country: some countries have scholarships for students
coming from that country who will be
reading specific courses the country has ‘gaps’ in for example in the
area of health care, environmental studies etc. these scholarships tend to be
available in most cases to Post Graduate applicants.
·
University/ College Scholarships: some institutions do offer scholarships to
international students. Once again these remain most limited. They tend to
offer to Post Graduate students as well as for a limited period- usually one
year.
·
Bank Loans: Some banks are happy to support the intentions of students to study
abroad. This can be a good way to fund your studies abroad provided there is a
realistic payment plan. It is useful also if the applicant for such a loan
secures a great job after the course also. Bank loans for international studies
do exist but are very limited.
·
Work: Some students studying at international destinations that allow
students work take up part-time employment usually weekends and evenings to
raise some funds. This is very popular especially with much older students.
General thought’s:
The
above ways are the most common ways to raise funds to study abroad. In my
experience of working in this industry the parents and family funding seems to
be the most common and often the most guaranteed source of funding as the
others depend largely on availability, opportunities as well as very often
ability to demonstrate academic excellence which not all students will be able
to do.
Students
should not leave their home countries without a plan. Due to the cut in
government funding in some destinations of the world university scholarships
are fast ‘drying-up’! you shouldn’t jump on a plane and just hope for the best
that could be costly.
Planning
early if always a sensible way forward and a guarantees all options are weighed
and explored.
Closing thoughts:
Whilst
it’s great and desirable to study abroad and all those advantages listed above
remain valid, it is also a fact that not all students will be able to afford
it. The world is moving forward with technology and as such if you are keen to
acquire a world-class degree you can always take advantage of the online
opportunities offered both for college and university studies. Some of these
courses are offered and powered by top universities and colleges and the awards
are exactly the same as if you were physically on campus. In a nutshell, it
shouldn’t be the end of the world if you cannot afford to travel outside the
shores of your home country.
What the
world is looking for is more qualified graduates and these days it doesn’t
matter where they studied provided they can deliver the goods!
Best of
luck!
Olugbnega
O. Ogunbode