Funding Your Education Abroad
It is estimated that almost 90% of all university students spend some time outside of their home country during their studies. That being said, a great number of them cannot afford to fund their studies with scholarships alone. If you want to take advantage of this option, then there are several different ways you can get started. First, find a source of financial aid that suits your budget and make sure that it covers your entire expenses while you are abroad. This could be an academic program that allows you to work while you study or even work while you study. Most often, these programs come with living stipends.
Canada has a very high ceiling in terms of academics making international students flood into the country to tap from their mastery in teaching. This in itself is good, however, it is very expensive leaving the shore of your home for another country. Most public universities in Canada are funded by the government to help cut down the cost of tuition and other fees in general.
How to start your financial aid search
First of all you need to make an important list and ask yourself some questions like what makes an International Student interested in coming to Canada? What would convince them to take a Canadian study program? Doing this will stop you from wasting time and effort.
Secondly, start making your connections with some potential donors. There are scholarships available that can provide funding for your studies but you have to find them. We suggest looking on different websites or joining social media sites like Facebook or Twitter.
Afterward, visit Canadian institutes of learning such as York University or Ryerson University. For those who wish to participate in a student exchange program but have trouble getting financial aid from home, they may find help with programs like HESI Exchange.
Types of Financial Aid Available
There are some ways to get financial aids, which could be through scholarships, grants, loans, or fellowship. Find one and apply for it.
Many people don’t take scholarships seriously because they believe that there are too many restrictions attached to them. However, these restrictions aren’t real at all. The important thing is to do research before applying for a scholarship.
Some examples of scholarships include:
- Calgary-Altaplans/@taplan – Dancers’ Union International Student Scholarships – Funding towards travel costs and one-month residence expenses.
- Association of British Columbia Universities & Northern British Columbia U Faculty Scholarship Program – For domestic students who wish to study abroad at any University or College in British Columbia or Yukon in Canada.
After that, go through all the necessary details before submitting your application. You will be required to attach relevant documentation along with your application.
These are designed to encourage people who might not otherwise be able to afford the full tuition fee of the institution they wish to attend. They may include living stipends or reduced tuition fees.
Some examples of entrance scholarships include:
- BC Green Key Leadership Award – It’s awarded to high school students who have an outstanding leadership record in the areas of energy conservation, water conservation, recycling, environmental awareness, community service, environmental responsibility, sustainable development, outdoor activity, alternative transportation, renewable energy, alternative technology, sustainable construction, food production, recycling education, and healthy lifestyles.
- John F. Kennedy Scholarship Program – This scholarship program is given to undergraduates from India who wish to study at Canadian universities.
- Leona J. Shores Memorial Scholarships – Established in 1997 by an alumni family member of Indiana University Bloomington. The award was intended to recognize excellence in journalism by encouraging promising young journalists from countries where free speech is threatened by governments or terrorism.
A bursary is awarded by a third-party donor and may not require the applicant to repay it at a later date. The scholarship provides financial assistance for further studies or for work purposes. Some examples of bursaries include:
- Cape Breton Graduate Scholarships – There are six Cape Breton graduate scholarships for candidates studying a course related to agriculture and/or fisheries at a recognized university or college in Nova Scotia.
- Colehill Youth Fund – A $500 bursary is available to assist post-secondary students with costs associated with educational opportunities.
Working While Studying
The financial assistance from these programs is usually means-tested and varies according to program and country. You can obtain information about available working opportunities on your local school website.
Summer Employment Programs
In many cases, there are no additional costs for applying for these programs and if you qualify, you can earn money while studying abroad. A lot of schools will hire students as student counselors or mentors.
Canadian government grants
This can be one of the best sources of funding as it does not require any form of credit check or evidence of previous earnings. To qualify, you must have resided in Canada for at least three months before you apply for the grant.
Some Canadian universities offer summer jobs as part of their academic curriculum for teaching. In most cases, this program provides practical experience in addition to gaining some valuable credits towards your degree.
This funding program allows students to finance their post-secondary education through financial aid from the federal government. It may also require repayment after graduation or completion of studies.
These grants are typically awarded by research organizations or charitable foundations and may provide an opportunity to spend a limited amount of time conducting research in your field of study.
Organizations like The World Bank Group, Canadian International Development Agency, the International Finance Corporation, and others often hire people who have participated in volunteer work in developing countries. They offer training and international exposure.
To put it simply, if you need money to travel for school, there are many options available to you. Some schools may provide assistance through various scholarship programs while others will let you take out a loan from the school’s credit office. These loans usually come with low-interest rates and should be repaid upon graduation or completion of studies.