If you are preparing for Graduate school or are joining one and are worried about the financial costs and implications, please read on and evaluate the different methods you can follow to get financial assistance to study in your dream college.
1. Look for Sponsorship
If on personal level, someone can sponsor your studies, then for sure your college life is good to go. But, if not, then, in terms of official sponsorship or private sponsorship – the situation in U.S. adheres to – According to Society for HR Management, almost 52% percent of companies (based in US) offer tuition assistance for job-related courses. Generally in more typical fields like business and education, employers’ funding help about 15 % of grad students to pay for their school. So, you can definitely look for sponsorship as a viable option.
2. Seek scholarships
While seeking scholarships, for an obvious reason your financial needs are overshadowed by your credentials or course of study. Depending on your major or future career goals, there are even more opportunities to receive scholarships to pursue education abroad. Do some personal research and look for scholarships which are feasible and can be a viable source for financing. If you are an international student with good academics, then tap into research and look for the universities that provide international scholarships.
P.S. If you are going to study in US, then the U.S. Department of Labor offers a list of Scholarships that can be searched based on your academic interests and preferences.
3. Crowd Funding Campaign
Internet has now made almost everything possible. Nowadays, students are using Internet as a medium to garner donations from friends, family and anonymous donors, which is called as Crowd Funding. What you do is, write and tell people why you want to go for the academics of your choice and how badly you want it – If it’s convincing enough, then make way for all the Crowd Funding as much as you can.
But before you plan for this, make sure to:
-Do your research – See how does Crowd Funding work. Also, what amount will the website be taking from your donations.
-Set an achievable goal – Platforms will take a higher percentage if you don’t achieve your goal. So, keep it realistic!
-Promote your campaign – Social media is the easiest medium for promotions. So, try to reach out to blogs or publications that may be interested in featuring your campaign & grab eyes on your approach to make the most out of it.
4. Borrow carefully
Also, make sure to have a payback plan: If your option is to take out loans, then have a payback plan with potential durability. Check your financial stats and compare it with the cost of your academics – as nearly half of all grad students (U.S.) take out loans, particularly in professional fields, where average debt levels exceeds almost $100, 000. Therefore, if you don’t want to go bankrupt, then plan to spend and use your loaned amount properly.
So, these were a few potential ways by which you can fund your studies abroad.