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Most common options to fund your higher education abroad

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Options to fund your higher education abroad

One of the toughest part of earning your degree is paying for college. Parents and college kids have to make tough choices dealing with the financial reality of higher education.

Although finding money to pay for your college may not be as hard as you think, applying for financial help is certainly an important aspect while filling your college application. There are a lot of options available to put together an effective financial aid.

We have outlined most common options to fund your higher education:

Scholarships

  • Consider applying for as many as scholarships as possible.
  • Spend every free moment researching scholarship opportunities.
  • Out of the many scholarships you apply, there are chances that atleast a few could finance a year of school.
  • Do not assume scholarships are only for geniuses and athletes.

Work-Study Programme

  • Depending on your study progamme, it may be possible for you to work while you are studying.
  • Working while you study will not only help you with you education fee, it also allows you to develop discipline and manage money.
  • Working part-time is considered by most students, it gives you experience and also some cash to spare.
  • Part-time jobs may also include entitlements like holidays and other benefits outlined in the employment contract.

Grants

  • Grants can come from a wide range of government departments and also private and public trusts and foundations.
  • Grants from trusts and foundations are a little more complex to research but they can be found through subscription-based directories.
  • Usually, education grants are issued to the students by the government.
  • In some cases, part of a government loan is issued as a grant to students seeking financial support to continue their educations.
  • The compliance and reporting requirements for grants depend upon the type of grant and funding agency.

Loans

  • Banks provide educational loans with a higher interest rate.
  • Opt to loan only after you have taken every opportunity to use your grants and scholarships.
  • Loans like the Federal student and parent loans have low fixed interest rates and flexible plans for repayment.
  • All students are eligible for federal loans.
  • Do not go for private loans unless Federal loans are not enough.

Tuition Reimbursement

  • You can work full time for tuition reimbursement.
  • Some companies offer plans like tuition reimbursement to their employees.
  • Most of the companies offer a list of included benefits package on their websites.
  • Any questions regarding tuition reimbursement eligibility, you can contact the company's human resource recruiter.
  • Contact details are listed usually on the job search page.

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