Ways to Fund Studying Abroad On Your Own

study abroad

You are here because you wish to study abroad. But, finances seem to be a problem.

Is it really worth giving up your study abroad dream because of finance factor?

No!

This post talks about several tips and tricks that will help you easily manage the finances that are involved in a study abroad journey.

The amazing part is that the information provided is going to help you in every possible way. Whether you’re independently funding your education, splitting it with parents or even planning to take a loan; it is going to be a life saver.

*Career Coach Special Tip*

Planning early for your education and beginning to save from right then is going to help you pave your study abroad journey successfully without any hassles.

Crowd-funding Campaign

Follow the latest trend!

Start creating online crowd-funding campaigns so as to collect money from family, friends, and even anonymous web users.

Tell them your story, what makes you different, why studying abroad is important for you and how it is going to help you.

You’ll be surprised to find out that there are many people who are willing to help you and make contribute so as to make your dreams a reality. Basically, it’s about making them believe in you and your goals.

As the experts would tell you, use the power of social media and e-mail marketing. However, refrain from posting too often so as not to make your content spam.

Ask friends and family to support your campaign on social media channels and promote it as much as you can.

This method is a sure shot way of yielding some effective results.

Start Earning Some Extra Cash

Think about taking a weekend job or look for some online avenues that can help you earn some additional cash. And if you’re not doing anything, you can even consider taking a full-time/ part-time job before you embark yourself on a study abroad journey.

Make Some Sacrifices

In order to turn your dream into reality, you must never hesitate in making some sacrifices. And the time to make sacrifices for you is now!

There are various practical and effective methods of saving money. Cut down your outings with friends, look for cost-friendly options in almost everything you do and work extremely hard so as to be eligible for scholarships.  Scholarships are considered to be the most viable source for financing your study abroad journey.

Choice of a Study Destination

Are you a resident of the country whose currency is not very strong?

In such a scenario, the currency of your study destination has a potential to make a deep hole in your pocket. It, primarily, depends on the strength of currency in the place you’ll be studying.

Now if you are looking at saving money, you can alter the choice of your study destination to a place where the currency is less valuable. A country with a weaker currency implies a lower cost of living. You can, therefore, manage your finances in a more comfortable manner.

Read Also: Making the Choice of a Study Program 

Private Loan

Never heard this term before?

Well, I am going to ask you to take a private loan from your parents. Make an agreement for a fixed amount and set the time frame within which you will be paying off the loan amount.

Are you wondering why take a loan from parents?

It could be that your parents don’t have surplus cash to fund your studies. They might just be having enough savings to be used post-retirement or their reasons may vary. Whatever the reason, you can request them to lend you the money with a promise that you’ll pay off the money. This way, you will not be only respecting their feelings but also living your dreams.

Image source: fundafuture.files.wordpress.com

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