How can I fund my overseas studies?


One of the common reasons I hear as to why a student will decline offers from very renowned Universities is related to COST. Such circumstances are unfortunate, but we have to be open to the fact the an international education can be a heavy investment thus parents and students alike are required to know how much they are bound to spend should one pursue education overseas.

In this topic, I will explore some means of lowering your costs and funding your studies.

1) Scholarships/ Bursaries
If you are a high-achieving student, there may be scholarships you can apply for to lower your tuition fees. It can range from 10% – 50% and in some rare instances, a 100% scholarship. For example, Griffith University is awarding polytechnic students from Singapore a 10% scholarship for their upcoming intakes, as long as the student meets the minimum entry requirements to enter. They even have the Griffith Remarkable Scholarship that will finance 50% of successful students’ tuition fees. Curtin University is also awarding students with 25% scholarships if they have meet a certain GPA. Nottingham University is awarding high achieving IB Diploma students with scholarships of £2,500 to £15,000 towards your tuition fees.

Bursaries are one-time off “discounts” given to applicant to lighten their financial load enable them to study in the Institution. UK Universities such as Queens University Belfast and Glasgow University are awarding £2500 – £5000.

2) Bank loans
If you do not have enough funds for your tuition fees, you might want to consider taking up an education or tuition fee loan. Of course, I never encourage an application to take up the full tuition fee as a loan; you might have difficulty paying back after graduation! The interest rate ranges from 4.35% to 4.88% depending on the amount of loan you are planning to take up and you would have to find guarantors to co-sign the credit agreement (guarantors are persons who agree to repay the borrower’s debt should the borrower default on agreed repayments). No longer are loans limited to just domestic education. Banks such as Frank by OCBC, RHB Bank and Maybank have options for students to take up loans to fund their studies overseas.

My recommendation is to limit the loan amount to half your tuition fees and make sure you also have enough fundings for your cost of living!

3) Part-time employment
Try to fund your cost of living by working the additional hours you have on hand!

Australia – 40 hours fortnightly and full-time during the holidays. According to Fairwork Australia, the minimum wage is AUD$18.29 per hour.
New Zealand – 20 hours a week and full-time during the holidays. According to New Zealand Government, the minimum wage is NZ$16.50 an hour if you are 16 years or over
United Kingdom – 20 hours a week and full-time during the holidays. According to the United States Department of Labor, the minimum wage is dependent on the state but the federal minimum wage of $7.25 per hour.

Find out how to find yourself a job by reading my article on How do I get a part-time job while studying overseas?

Need to know more specific information about funding your studies overseas? Feel free to hit me up with a message!


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