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For the few, higher education is no longer the rule. Now it’s a foreign degree that places you ahead of everyone.
The costs of studying overseas may be one obstacle in pursuing a foreign bachelor’s degree.
Don’t panic because we’ll show you many ways of financing your studies.
Here are some of the ways you can finance your studies:
1. Scholarships-the most common form of student funding
The best way to fund your international bachelor’s degree is to receive bursaries. There are so many bursaries there that we can honestly assume that everybody gets a bursary. Certain kinds of bursaries are available:
Bonds based on merit
Bursaries for athletics
Borrowings from multinational and independent bodies (also known as fellowships)
2. Student Loans-Compromise so many students choose
Asking for financial support from banks and other financial institutions means that you will have to pay it back, normally within 30 years of your graduation.
Beware, however, these loans come with interest costs, meaning you’re going to have to spend more than the real cost of your studies. The better student loans are those offered by government institutions that have either flat or low-interest rates or are easier to repay. This is how student loans operate in certain countries:
United Kingdom-Student loans are usually provided by the government. You must have a residency permit and be enrolled in an accredited university to be eligible. There are also a few private sector loans open
The Netherlands-To benefit from a government loan, you must be under the age of 30, enrolled in a full-time Bachelor’s degree, and apply for a residency permit.
Hungary — You must be a member of a country, a refugee, or a permanent resident to be considered for a state-funded loan. The age limit is 35 years and you will need to study in a recognized university.
United States-Federal and private student loans are eligible in the United States. You require a co-signatory who is a permanent US citizen to apply for a loan as a foreign student. Loans exceed the entire cost of tuition.
3. Student Grants-Students’ opportunities without financial resources
College grants (or scholarships) are scholarships of any kind, but they are based purely on needs. You should not have to repay them, so if you wish to earn certain grants, you need to fulfill some financial requirements, such as very poor to no sources of income.
Their value ranges widely from university to university. In the European Union, for example, they will start at EUR 150 per month and hit as much as EUR 800–1000 per month.
In the US, these are referred to as federal grants that are usually given to those who wish to study for four years at universities, community colleges, or technical schools. Such very strong four-year Bachelor’s programs in the US are:
Bachelor in Mechanical Engineering
Bachelor in Criminal Justice
Bachelor in Architecture
4. Employment-work or part-time research to support yourself
If you run out of opportunities to finance your studies, you can still consider taking a job when you study abroad. Many foreign students with student residence permits are able to operate, at least part-time.
This will encourage you to attend more of your classes and to cover part of the cost of living abroad. However, this would not be enough to pay school tuition or all living expenses. It’s best to align it with another form of financing.
5. Family Bank-Request support from your parents
The “family bank” is the perfect all-time way to fund your degree. If your family can afford it, you can ask them to support your research. After all, you’re their biggest gain and investment.
Although this also ensures that you are likely to rely longer on them, which will interfere with the desire for freedom.
And note, still follow your Bachelor’s wishes. Choose a support option, and that will pay off at the end of the day, and you’ll be so proud when you graduate. Believe in yourself, just as we do!
6. Request for the Research Portals Scholarship
To show that to you, we benefit students around the world every year by covering some of the expenses of their studies abroad.
The Thesis Portals Scholarship provides incentives that you can earn to pay your school costs and half of your living expenses. So go ahead and apply for the Research Portals Scholarship, and you might be one of the lucky winners!
You may also use one of the same 6 types of finance to study for a Master’s degree abroad.