Prepare Financially For Your Study Abroad

Posted date: 05 Dec 2019

There's no question that studying abroad is a lifetime experience, but it's also one that needs careful preparation, particularly when it comes to finance. And there is no shortcuts fund your studies, other than spending enough time saving and applying for grants and scholarships. Hope these tips will help you.

Get A Job On Or Off Campus. 

There's no doubt that the best way to save money is to make more than you're investing, so if you're serious about going overseas, submit your resume and make sure you have a salary. If you are already working, slightly increase your working hours but make sure you get enough time to study also.

Begin Living Within A Budget. 

Practice cutting your expenses while you're at home. Set a budget for yourself and download an app which helps you to keep a track on your expense. Most of the applications are available free of charge for iOS and Android, which allow you to connect your personal accounts to see where you spend most and set saving goals. Think about how you're spending now and think twice before making an impulse. Change your mind set a little and you're going to get the benefits.

Start Saving. 

Sneak the extra money into your savings now that you're in charge of your budgeting. Studying abroad is expensive, but if you want to go, there are ways to cut corners and make them affordable. It will always help you with your budget to have a sublease for your apartment.

Determine Additional Program Expenses beyond Direct Cost

List the additional costs of studying abroad, including transportation from the airport to your hotel and back when you depart, textbooks, cell phone charges, meals, personal entertainment and side trips as well as general daily living expenses. You can also look for different ways to cut your cost while you're making decisions about your program.

Explore Crowd-Sourcing Options

There are specific rules and regulations for every crowd funding platform. Some will only release money if your entire target has been achieved. Before you sign up, make sure you take the time to research the right platform and go through the effort to create a profile. Start sharing the connection with personal messages to the people you know and post them on social media once you've polished your profile.

Research National, Institutional, Local and Private Scholarships

Scholarships are one of the most attractive ways to fund study abroad. Yes, they take some effort, but this is money you don't have to pay back which means it worth your time.

Posted By

GSP Admin