Studying at a top international university is an expensive feat, especially for international students who also have to cover the costs of a study visa, flight ticket, settlement, and living expenses. For talented students, affording the cost of studying abroad can be challenging. To address this issue, we have compiled four ways to raise funds for studying abroad in 2024.
Fully Funded Scholarships
The first and top recommendation is to seek out international fully funded scholarships and apply for government-funded scholarships. These grants cover tuition fees, study visa, air tickets, stipends, settlement funds, experimental expenditures, residence facilities, and health insurance for students. If you have attained 70% marks in your last degree or a CGPA of 3 on a scale of 4, then you have a good chance of winning fully funded government scholarships such as Commonwealth scholarships, CSC scholarships, MEXT scholarships, Australia Awards scholarships, Chevening scholarships, Fulbright scholarships, or SINGA awards.
Fully Funded Fellowships
Another option to consider is applying for international fellowships offered by institutes, universities, laboratories, and government research labs. These fellowships aim to hire students with undergraduate degrees for enrollment in postgraduate or postdoctoral research-based programs. Some recommended international fellowships to consider include Hong Kong fellowships, DAAD fellowships, Australian Endeavour fellowships, Erasmus Mundus fellowships, or Friedrich Ebert Foundation fellowships.
Study Loans
While obtaining a study loan is a way to raise funding for academic pursuits, it is not the most recommended option as study loans need to be paid back. However, if it’s the only viable option, students can explore Forbes-featured study loan companies to find the best fit for their needs.
Exchange Programs
For students enrolled at local universities who desire to study abroad for a few semesters, exchange programs may be a suitable option. Many universities have collaboration agreements with foreign universities, allowing for student exchanges. Students can inquire with the financial aid department of their university to explore the possibilities of exchange programs.
Each of these options provides a viable way for talented students to raise funds for their international studies in 2024. Whether through scholarships, fellowships, study loans, or exchange programs, there are opportunities for students to pursue their academic dreams abroad.
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