10 Means You Can Finance Your Studies in Europe 2021: An international degree or post-graduate study is a good investment in your future career. But it can also be expensive and you need to organize your finances well in advance to ensure your visa application is approved.
For you to have a better source of funding to Finance Your Studies in Europe 2021, read through this article carefully for more information.
It is not surprising that the popularity of abroad programs has been cumulatively growing every year.
In fact, research has it that the amount of international students abroad has been increasing by roughly 12 percent each year in the 21st century.
With Workplaces going global, companies are on the lookout for employees who understand global markets and can leads teams in multicultural settings.
Study abroad programs are the stepping stones for students to transform themselves into culturally sensitive employees with the acumen to deal with international challenges. In this article, you will find:
There are many options available to international students for help with financing their studies, but you need to plan ahead. You will probably find a combination of some, or all, of these options, will allow you to pursue your ambitions.
An international degree can be one of your most prized professional assets in the current economy, yet there is a vast majority of students who are apprehensive of taking up this option due to monetary constraints.
It is true that study abroad programs are not exactly pocket-friendly, but with the host of funding options available, they are certainly affordable.
More than half the students give up the idea of studying abroad just because the whole research process of funding options is too comprehensive and tedious.
The objective of this article is to present extensive research on various student funding options in a structured format so that you can weigh your study abroad chances realistically.
1. Family Bank – Ask Your Parents for Help
An all-time ideal way of financing your degree is the “family bank”. If your family can afford it, you can ask them to finance your studies. You’re their greatest asset and investment, after all.
But this also means you are likely to depend longer on them, which may clash with your need for independence.
And remember; always follow your dreams of doing a Bachelor’s. Pick a funding alternative, because it will pay off in the end, and you will be so proud when you graduate. Believe in yourself, as we do!
2. Merit-Based Scholarships (Fellowships)
The merit-based scholarships are awarded based on a number of criteria including academics, achievements, hobbies, and talents, affiliations with various groups, or career aspirations.
These scholarships can be offered by the federal and state government, large corporations, local businesses, professional organizations, or universities. Each scholarship has its own eligibility criteria that must be met.
The criteria by which universities offer scholarships are usually: academic excellence, students have to be under a certain age limit (for example under 35 years of age).
In addition, you will find out there are special scholarship offers for each degree level.
3. Apply to Global Study Awards Right Now!
To prove it to you, every year, we help students worldwide by supporting part of the costs for their studies abroad.
The Global Study Awards are prizes you can win to cover your tuition fees and part of your living expenses. So go ahead and register for the Global Study Awards, and you could be the lucky winner!
Strong candidates will be shortlisted and invited for an in-person interview.
The 2 winners will be announced within 3 months after the application deadline. To apply you need to already have been accepted to a university abroad.
Part of the application process will include writing a university review.
4. Specific Scholarships
Most specific scholarships are given to students with a certain ethnic background or family affiliations. These scholarships are designed to benefit gender or ethnic minorities.
For this reason, you will find a number of scholarships specifically dedicated to African-Americans, Asian-Americans, or Hispanics.
In some countries (Belgium, France, U.S., etc.), the local government provides scholarships to students that come from certain countries.
For example, Belgium offers special scholarships to applicants coming from African, South American, and Asian countries.
5. Employment – Work or Study Part-Time to Support Yourself
When you run out of options for funding your studies, you can always try taking a job during your studies abroad.
Most international students with a student residence permit are eligible to work, at least part-time.
This will enable you to attend most of your classes and to support part of the costs of living abroad. However, this will not be enough to cover tuition fees or all living expenses.
It is good if you combine it with another type of funding.
6. Need-Based Scholarships (Grants)
Grants are often called “gift aid” because they are money-free; basically, they are a type of financial aid that doesn’t have to be repaid.
Compared to scholarships that 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).
This form of financial support doesn’t need to be paid back and its value most times varies from 500 to 2,500 USD.
7. Student Loans
Student loans for studying abroad are funds that you have to pay back. They function like any other loan, with a few differences.
You can get a student loan from the government or a private bank; it can be a bank from your home country or a foreign bank, in the country you wish to pursue your studies.
Co-signing (along with parents or legal tutor) is very common for private student loans since most teenagers don’t have the credit history to get a loan of such a size.
However, student loans that you can get from the government tend to be more favorable, as the rates are usually lower.
Some loans are based on financial need, while others are much like any other loan and are based on your credit score.
8. Student Prizes
Student prizes are exactly what you think: the prize is represented by a certain amount of money, which will not technically support your studies, but it can be considered as a form of financial aid. Student prizes are one-time awards and they can range from a couple of hundred to several thousand euros.
Student prizes can be offered as follows:
- For academic achievements
- To reward performance in undergraduate examinations
- Awarded based on the results of coursework and public examinations
- For the best paper in a wide range of subject areas
- Rewarding outstanding work submitted for a dissertation, examination, or thesis, as well as for overall performance
- You can also win a prize and
get a scholarship for the following year or receive the title of a scholar if you are about to graduate.
9. Graduate Assistantship
A graduate assistantship is a supportive role provided to the students to complement and support the teaching work of professors and universities.
In other words, assistantship may be defined as a form of funding in lieu of which a student works as an assistant to some professors or lecturers in a university.
The financial aid can be a full or partial exemption of the tuition fees and is a very good opportunity for the students to accumulate some valuable professional knowledge and to polish the teaching skills.
Now, the Graduate Assistantship can be of various types depending upon the role which has to be played by the student during the assistantship.
10. Go for Internship
Do you fancy working as a Translator? Or maybe connecting with people as a Barrista in Paris is more of your thing? Or taking some language classes at the local community center, making some friends along the way? Or better yet working part-time with an upcoming startup?
Internships are something that almost every international student considers after starting their journey abroad, it can be one of the most foolproof ways to earn some pocket money and pick up some skills along the way.
In fact, you can even receive a pre-placement offer during the course of your internship! Consider this scenario.
If you are pursuing a degree in finance, a financial internship will not only equip you with relevant market skills but also help you kick-start a full-fledged career in finance!
Considering that finance freshers are one of the highest-paid people around, you should definitely think of pursuing a master’s degree in Finance if the field interests you.
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