— Daljeet Sandhu
Aspirations are the lifeblood of a student destined for success. Challenges come and go, but perseverance leads to victory, just the way finances can be a daunting challenge for many aspirants coming from humble backgrounds. With a simple keyword research, one can find their dream academic destination. What one lacks is proper guidance and assurance to fund their education in such widely renowned institutions.
If you are one such aspirant relating strongly to the scenario I just discussed, following are some of the ways to help yourselves navigate the same:
The plethora of information online can confuse an aspirant looking for the right knowledge. Online study abroad solutions, armed with artificial intelligence, comes to the rescue particularly in such circumstances as they analyse the profile of a student, their budgetary constraints, and aspirations, to give tailor-made, curated solutions that are not only relevant to the student concerned but also mappable in terms of academic growth over time. Such services help an aspirant cut the queue and optimise their time pursuing academic excellence.
Exchange programme scholarships provide financial support for students studying at partner institutions, either locally or abroad, fostering global perspectives, cultural understanding, and academic growth. Notable scholarships include the Global UGRAD programme, offering one-semester awards to undergraduate students from participating countries aged 18 or older, and the Charpak Exchange Scholarship, supporting Indian nationals or OCI cardholders under 30 studying at French partner institutions. Additional funding options include loans, self-funding, or scholarships from non-governmental organisations and other institutions.
Scholarships are one of the most popular and sought-after forms of financial assistance for studying abroad. They are often merit-based, need-based, or awarded for specific achievements. One must find the target university, recruiter, or consultant to explore available scholarship opportunities. Universities often have dedicated departments to assist international students with scholarship information and application support. One must not miss out on any chance in filling out every scholarship application according to eligibility. In doing so, one should inquire with the home university or national education organisations for funding opportunities. They might have lesser-known programmes that could provide crucial support. From Fulbright-Nehru Master’s Fellowships, Dr Ambedkar Scheme of Interest Subsidy on Educational Loan for Overseas Studies to The Inlaks Shivdasani Scholarships, there is an array of opportunities for Indian academicians to explore in this section.
Next comes the need-based grants, a subset of scholarships, which aim to bridge the financial gap for students who may not otherwise afford an education abroad. These are provided by governments, universities, and private organisations, usually requiring detailed documentation of financial need during the application process.
Good international relations often facilitate external scholarships, wherein one country sends invites to the government of the other country for the benefits of academics. Every information from subjects of choice to eligibility criteria, qualifications, age brackets and experience are available in the designated UGCs and institutes. In the case of India, the Ministry of Education oversees the offers of such scholarships, which are awarded to alleviate a significant portion of the financial burden associated with higher education for both prospective and current students and their families.
They can cover a range of expenses, including tuition, lab fees, textbooks, housing, meals, transportation and more. While some scholarships are one-time payments, others are renewable, providing financial support each academic year or semester throughout the student’s course of study. Scholarships may be fully funded, covering the entire cost, or partially funded, covering only a portion of the expenses.
While scholarships and grants are ideal, they often don’t cover the full cost of studying abroad. Loans can fill this gap, making education accessible. Here are the primary types of loans available:
Federal student loans: In some countries, such as the United States, federal loans can be used for study abroad expenses if the program is approved by the home institution. These loans typically offer low-interest rates and flexible repayment options.
Private student loans: These loans, offered by banks and private lenders, can also be used to fund study abroad programmes. However, they usually come with higher interest rates and may require a co-signer.
Institutional loans: Some universities provide loans specifically tailored for international students. These loans may offer more favorable terms compared to private loans, such as lower interest rates or longer repayment periods.
That’s a pretty self-explanatory concept if one can’t afford to be laidback while chasing their academic dreams. Some study abroad programmes incorporate internships as part of the curriculum. These not only help supplement budget but also provide hands-on professional experience. For instance, in France, dedicating a semester to an internship is a common practice for many international students. Some universities also offer on-campus jobs or part-time work opportunities for international students. These roles are often flexible and designed to accommodate academic schedules.
Student discounts cover expenses such as transportation, entertainment, dining, and more. While many study abroad programmes negotiate exclusive discounts with local businesses and service providers for their students, one can further maximise these benefits by having a valid student ID to access local discounts, from bus fares to museum tickets, and an ISIC card that unlocks a wide range of discounts worldwide, including on flights, train tickets, and accommodations.
Finally, just like any other industry, highly qualified specialists in education will collaborate with institutions, physical or online, with a great reputation for transparency and excellence. It’s wise for any aspirant to keep oneself updated with new developments in the industry through workshops and guidelines by such experts, while pursuing their subjects of choice. Keeping track helps aspirants to leverage new international laws and clauses from said institutions that are ultimately beneficial to them.
(The writer is the CEO of Daltin AI Portal)
Renowned journalist Rajat Sharma, best known for the iconic chat show Aap Ki Adalat, recently took a trip down memory lane, recalling how Shah Rukh Khan charmed him in their very first meeting and managed to do so within just four lines of conversation. He also shared how deeply Shah Rukh admired Rajesh Khanna, aspiring from the very beginning of his career to reach similar heights of stardom.
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