It is no secret that studying abroad can be expensive. However, there are ways to do it on a limited budget as well.
Here are some tips from Mr. Abhijeet Virmani, Director at Top30Universities.com, India's leading premium admission consulting firm helping students get admission in top tier universities like MIT, Harvard, Yale, Princeton etc.
Need blind admissions
There are some elite universities in US that are need blind even for international students. This means that they will consider your application without taking your financial situation into account. If you are admitted to one of these schools, you can then apply for financial aid and the university will meet the gap by offering financial assistance. Some students get aid to the extent of even 50-80% of the tuition fees based on their financial status.
Scholarships and grants
Another way to save money is to apply for scholarships and grants. There are many organizations that offer financial assistance to students who want to study abroad. Do some research and see if you can find any scholarships or grants that can help you offset the cost of your studies. You can get full scholarships as well if you select universities few notches below the ivy leagues.
Make sure you apply for all potential sources of financial assistance. There is so much assistance available that it's just a matter of doing your research and applying for everything you can get. There's always a chance you'll get financial aid, so why not try?
Also, apply for scholarships as soon as possible! The earlier you apply, the more likely you are to receive not just money but also a larger sum of money!
State Universities in US
If you are considering studying abroad in the United States, be sure to look into state universities (also called public universities). State universities in US are cheaper compared to private universities. These schools often have lower tuition rates for both in-state and out-of-state students.
Because private institutions rely on endowments, donations, and tuition income to function, the cost of studying is naturally higher than that of public colleges. However, you should compare the tuition fees after offsetting any scholarships you may get, as private universities often give higher amounts of scholarships compared to public universities.
Study in Europe
In Europe, you can often find affordable programs that offer high quality education. For example, most schools in the United Kingdom have three-year degree programs instead of four-year programs like in the United States. This means that you can save money on tuition and other costs as it is 25% cheaper as compared to 4 years in USA.
You can consider other country options as well, like Netherlands, which is much cheaper for English speakers. If you study in the Netherlands, your ROI will be even higher than if you had studied in UK. This is because the cost of living and tuition in the Netherlands are lower than in UK.
Countries like Germany offer free education even to international students although the language can be a barrier. Once you are done with the course, your degree will hold the same value as someone who studied in US or UK.
Work while you study
Lastly, you may want to consider working while you are studying abroad. Many students work part-time jobs in order to help pay for their living expenses. This can be a great way to get some real-world experience while also earning money to help pay for your studies.
In most countries, international students with a student visa are permitted to work for 20 hours each week on a part-time basis and can increase their hours to full-time when there is a university vacation.
If you are interested in studying abroad but don't have a lot of money, don't despair! There are ways to make it happen. Use the tips above to help you save money and make your study abroad experience possible.
You can also contact experts from Top30Universities.com for more guidance as they have helped hundreds of students get admission in top universities in US & Europe, surmounting several odds including financial constraints.