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Here are the best practices outlined when planning to study abroad
To start the fund, set a goal for it, that is achievable considering the time you have to save for it. If you are planning to take an educational loan, then your goal for the fund changes accordingly. Studying abroad is a dream of many but only a few achieve it, given the various factors that act as a barrier. The biggest one being – Finance. Basil Ali, Co-founder and COO, Edumpus, says, “There is a way to break through this barrier and now, everyone has an equal chance to fulfil their aspiration to study abroad. The dream of studying abroad should no longer be bogged down by the heavy costs attached.” Here are some ways to raise money without disruption; Financial preparation and role of education fund Consider studying abroad as an investment that you make in yourself and not as a cost. Start saving in small amounts and create an education fund, an SIP for your higher education. Ali says, “To start the fund, set a goal for it, that is achievable considering the time you have to save for it. If you are planning to take an educational loan, then your goal for the fund changes accordingly. Account for living expenses as well that depends on the country, the duration of the course, your lifestyle etc.” Financial planning will help reduce the financial burden and eliminate the stress that comes with it. However, it is very important that you follow the plan strictly and do not prioritize temporary fun for a life-changing ambition. Research about scholarships Most universities have scholarship programs for international students. Ali explains, “While you make the list of colleges you would like to apply to make sure to analyze each of your options based on their scholarship programs.” Check the eligibility criteria for
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