Here’s How you can lower the overall Cost of Overseas Education

Posted by Rita Biswas on April 21st, 2021

In order to pursue higher education from an overseas institution, a student is required to have a hefty amount in hand to bear the expenses required while studying in a foreign county. A lot of students opt for a foreign education loan whereas other look for ways to cut down on the cost of education to fulfil their far-fetched dream or studying overseas.

Availing an education loan is surely a great option to fund education from an overseas university but there are few other ways as well that can be considered to lower down on the cost of education in a foreign country.

7 ways to make your overseas education affordable:

1.    Chalk out the amountyou can invest on your higher education

First of all, check your finances, discuss with your parents and chalk out the overall amount that you can invest on your higher education. Do your research and finalize the destination that suits your budget in order to study overseas.

2.    Choose an affordable University

Now that you know how much amount you can invest on your higher education, chooseyour university accordingly. Short-list nearly six to eight universities and finalize one to two that suits your budget and offers a great quality of education. Do not forget to check the QS ranking.

3.    Check the required expenses and create a budget

After finalizing the university, check the required expenses right from tuition fees, living expenses, meals, transportation, and other miscellaneous charges. Once you have jotted down the amount, create a budget for yourself on how much amount you already have and how much you require.

4.    Opt for Loan Subsidy Schemes

Government of India has introduced various subsidy schemes for Indian students to help them pursue their higher education in an overseas university. These are caste-based schemes and can lower down a huge cost of studying overseas. Do check that out and apply for a suitable subsidy scheme as per your eligibility.

5.    Look for scholarships and student grants

To attract the best of minds, international universities offer ample scholarships and students grants. These scholarships and grants can be fully or partially paid and completely depends on the academic profile of the student. Check the university website and apply for a suitable scholarship before the deadline passes.

6.    Utilize female student concession, if you are a girlchild

If you are a female student who is planning to avail an education loan for abroad studies, make use of the female student concession plans. Government banks offer student concession for girl child in an education loan. Visit your nearest bank and check that out.

7.    Start Loan Repayment at the earliest

If you have opted for secured or unsecured,any kinds of overseas education loan for funding your international degree in a foreign country. Make sure to start repaying the loan amountat the earliest. Finish your degree and find a job that will help you repay your education loan in time.