Do you want ideas on how to pay for study abroad? We listed the best tried and tested ways!
Congratulations on your plan to study overseas! Now, the challenging and most exciting part is “how to pay for study abroad.” Worry not because we compiled top methods that allow you to save and enroll in your dream study abroad destination.
As motivation, we’ve also included some of the many advantages of studying abroad. Moreover, we will present the cost of living in popular continents to help.
Finally, you will learn the fastest, easiest, and most affordable way to enroll abroad!
Benefits of studying abroad
Before we go into details on how to pay for study abroad, listed below are the top advantages of enrolling outside your home country.
- Develop valuable skills such as problem-solving, adaptability, self-confidence, resilience, leadership, and more.
- Allows you to learn a second language that can be used for employment.
- Gives you cross-cultural knowledge for a broader view of critical global issues.
- Opens your career opportunities abroad and establishes international connections.
- Learn new techniques in studying and meet classmates from all over the world!
- Start a new hobby or sport and relish a distinct lifestyle.
You will experience more benefits to enrolling overseas as you completely immerse in your chosen study abroad destination. Grab this opportunity and see how your life will improve!
How to pay for study abroad: Factors that can affect the cost
There are many things to consider on “how to pay for study abroad.” First, you need to know the cost of living in your desired destination. If you plan to study in Europe, allot $700 to $1,700 monthly to cover food, utilities, and other necessities.
On the other hand, you need $900 to $1,700 monthly if you prefer to enroll in Asia. Finally, ensure you have $600 to 1,700 if you plan to attend universities in the US.
More importantly, the tuition fee plays a significant role in the cost of studying abroad. To know the educational prices of the best learning institutions worldwide, click HERE.
How to pay for study abroad: Best tips to help you save money!
Now that you know the advantages of enrolling overseas and the amount to prepare, here are the best pieces of advice on how to pay for study abroad.
1. Apply for a scholarship
The most popular way “how to pay for study abroad” is to get a free education from a scholarship. You can browse online and look for grants in your chosen location overseas based on specific requirements.
To learn more about scholarships, click HERE.
2. Start saving using an online account
Many online savings accounts can help you efficiently pay for studying overseas. Additionally, they can look at how much you usually spend in a month, allowing you to lessen some and save money to pay for studying overseas.
3. Plan your budget as soon as possible
Early planning is the best move on “how to pay for study abroad.” Based on the cost we provided, create a budget for everything, from the smallest to the most significant expenses. Also, remember to add emergency funds for medicines and other health-related concerns.
Our Budgeting Tool can efficiently help you. Download it to check the amount you need to prepare for.
4. Work part-time in your study abroad destination
Another helpful move on “how to pay for study abroad” is working part-time. Aside from earning extra money, you will also experience the work culture in the country and gain helpful professional experiences.
5. Ask for help from family, friends, and your community
Among the best ways “how to pay for study abroad” is through fundraising. Start with your family and relatives, then organize a community fundraiser to increase your budget. In addition, you can use online platforms to ask for financial assistance.
6. Look for budget-friendly destinations
Researching for reasonably priced options is an excellent way to prepare for the cost of enrolling overseas. If you prefer an interactive experience, our Virtual Booth features exciting locations of the best universities worldwide. Moreover, our Blog Section has valuable content about the cost of living in Japan, Thailand, Indonesia, and more!
7. Educational loans
Getting a student loan is advisable, but remember to take only the amount you need and can pay back on time. Remember to check interest rates and available payment terms for the best deals!
8. Organize a yard sale
Declutter your room and look for items you can include in a yard sale. You can also ask for assistance from family members for things they want to contribute. Once you have enough, advertise online and include the reason for the yard sale.
9. Look for work-study programs
Work-study programs are given by states and Federal governments to qualified students. The yearly amount ranges from $1,000 to $4,000 for undergraduates, while graduates can receive $5,000.
10. Start to cut unnecessary expenses
Making small changes to your lifestyle allows you to save money for enrolling overseas. Below are minor adjustments that, surprisingly, help with “how to pay for study abroad.”
- Exercise outdoors to enjoy fresh air instead of paying for a gym membership.
- Refrain from buying coffee and other “wants” you can get free at home.
- Collect your spare change and watch how it grows in weeks!
- Buy clothing from thrift shops, but wash it thoroughly before wearing it.
- Use your bike to save money on gas or bus rides.
In a nutshell
Follow our guide to learn bulletproof ways “how to pay for study abroad.” See how making little sacrifices can go a long way and take you to your dream destinations to upgrade your education!
Asia Exchange, the number one, most prominent, and most international European Study Abroad Organization, can help you enroll at top learning institutions in thrilling corners of the world. Book a counseling session today to start your life-changing journey in exciting places worldwide!
For more inspiration, browse our Student Experiences and read amazing tales of our past and current learners worldwide.
About the writer
Mark has been a professional content writer for five years. He specializes in writing articles about education and studying abroad. His content intends to elicit emotional responses from readers and provide information.
