Studying abroad is certainly an investment and students tend to be patient in deciding the course and university they want to study in. Here are some tips to prepare financially to study abroad.
Get a Job on or off campus:
This could really help a student earn and save some money. Students can motivate themselves to even increase their hours of working and earn more than they can spend.
Students can practice living with a calculated budget. This generation allows people to track your spending and saving through mobile applications. Students can make use of these applications to track money in order to stay in budget.
Needless to say, there are a number of student friendly loan options several banks provide. Long gone are those days where students end up paying a huge sum of interest that eventually becomes a burden. Students can explore loan options and choose a suitable one.
There are thousands of scholarships that universities provide in order to ease the student’s life and also by awarding their excellence in academics. A proper research into scholarships can give a clear idea about the eligibility criteria.
Some universities provide financial aid besides scholarships. However, there are certain requirements to fulfill before acquiring the aid. Students can also look into this before applying to colleges.
There are countries with high and low economies but barely have any difference in global recognition of education per se. Students should do an ample amount of research about this and choose the country, university and course wisely.
If students are determined enough to study abroad, the best option is to work for a proper organization for a couple of years and save enough money before studying abroad.
Create a Bank Account:
Once a student reaches abroad to pursue his/her studies, he/she can open a bank account to maintain sufficient balance that can greatly decrease the expenses and increase savings.
In case students find it tough to maintain a bank account, forex cards are another option of maintaining finance. Once a student gets used to it, it only gets better.
Have an eye on Exchange Rates:
Students can keep an eye on the exchange rates when they need to convert or spend money abroad and vice versa. This might seem trivial but on a large scale, students end up saving a huge sum on a cumulative basis.
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Team – iae GLOBAL India