Scholarships Loan And Financial Aid Consulting
The biggest hurdle that students face while making the decision to study abroad is the financial implications of studying abroad. It is the single most dominant factor that deters student from pursuing their dreams to study overseas. But don’t let study abroad costs get you down. The most common misconception about a study abroad program is that it is unaffordable, but guess what? It couldn’t be any farther from the truth. There are not a few but literally thousands of study abroad scholarships and grants out there, just waiting for students to apply for them! And who doesn’t love free money? We all certainly do!
You might have to make some sacrifices in the months leading up to your summer/semester/year abroad, but as they say, money saved is money earned and which is exactly why scholarships for studying abroad plays such an impeccable role in the admissions process that most students miss out on.
The more scholarships you can apply for, the chances of getting more financial aid increases drastically. There are a number of resources online that provide you information on scholarships of Indian students wanting to study abroad. Some of the criteria to keep in mind while doing your research:
Eligibility Criteria for Scholarships
It is a common misconception that a good academic score is the only criterion for getting a scholarship. Look at our detailed guide on how to research for Scholarships here. Depending upon your personal profile and achievements in life, you might be eligible for specific kind of scholarships. These scholarship amount varies from $1000 to full tuition fees waiver depending upon the aid you qualify for. Keep in mind that every scholarship has its own eligibility criteria. You need to be thorough in vetting which scholarships can be applicable to you and apply to all of them to receive maximum financial aid possible. Regardless, do not hesitate to place multiple inquiries if necessary, to the university admission center for any queries that you may have.
There is a wide range associated with the term financial aid. It comes in many formats: scholarships, grants, assistantships and work-study programs. Some of these may differ based on the country of origin and might be possible only for US citizens; Others may depend on various factors such as the program, funding available with the university, chosen destination, the subjects and the level of education that you opt for. Nonetheless, there are various financial aid opportunities for international students too. For example, the University of Pennsylvania sets aside $6 million each year to fund graduates from outside the US and from neighboring countries of Canada and Mexico. Many universities provide on-campus paid work opportunity on campus for students while they study. However, there is a right approach to seeking financial aid from a University and the amount of scholarship fund that you get vastly depends upon it!
Funding information is available on each university’s website and request for financial aid should be applied for at the same time as a university place. Contacting the right people is the key to getting the best for yourself.
Unlike the common misconception that all scholarships are awarded based merit, some are awarded based on the students themselves due to factors such as gender, race, religion, disabilities, or sexual orientation. You name any category and you will find a scholarship available for that. Universities abroad demand for a diverse cohort for their classrooms, due to which programs such as the Benjamin A. Gilman Scholarship or Diversity Abroad Scholarships are especially helpful for students seeking financial aid. There are many study abroad scholarships for minorities are out there, you just have to find them!
University-Provided Study Abroad Scholarships/Grants:
This is perhaps the most common and often the only form of scholarships that students from the Indian sub-continent are accustomed to. Almost all universities provide scholarships or grants on a merit-basis. There are available to any qualified applicants looking to study abroad. Universities usually select you for a scholarship that you may be eligible based off your profile, and sometimes this amount can wave off the entirety of your tuition fees! However, don’t be lazy and just rely on financial aid provided by your home university. Study abroad grants for undergraduates and graduate programs can be available from different institutions depending upon the university you apply to and the courses that you opt for. Many higher education institutions throughout the world provide scholarships for international students to encourage a more diverse cohort of scholars to attend their university.
Location-Specific Grants/Scholarships to Study Abroad:
These scholarships or grants are mostly created by universities and also the government to encourage students to study in specific countries or even certain cities. For e.g. there are special scholarships specifically for students looking to study in Japan. Such scholarships are provided by the universities, by the government of the country you plan to study in, or even by the government of your home country. These are created to foster international relations with various countries by encouraging the exchange of study abroad students.
Subject-Specific Grants/Scholarships for Studying Abroad:
Many grants or scholarships are awarded to students who plan to pursue a specific field of study or major while abroad, such as Foreign Language Scholarships. These financial aids can be very specific, zeroing in on not just the subject, but also a particular subject to be studied in a certain country.
There are a number of nonprofit, chapter, or heritage organizations that provide scholarships or grants to deserving students who fit their eligibility criteria. Prime examples include scholarships for students of the LGBTQ community. The possibilities for you to get a financial aid are endless!
Government-Funded Scholarships/Grants for Study Abroad:
There are a number of government-funded grants or scholarships that encourage scholarly students to study or do work abroad. Amongst the best of these include the Fulbright-Nehru Fellowships Program, designed for outstanding Indians to pursue a master’s degree program at select U.S. colleges and universities or Chevening Scholarships and Fellowships, which are funded by the UK government specifically for international student leaders looking to study in the UK.
With first-hand experience of working with the admissions department and knowing the internal structure of how scholarships and grants are disbursed, more than 90% of Sudeep’s student get some or the other form of scholarships for their study abroad program. Our founder believes that the right methodology to approach ‘scholarships’ plays a much important role in scoring one for a study abroad program for Indian student more than the marks of the student.
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