Financial Aid & Loans

Financial aid is a means by which students can reduce or eliminate the expenses that they will incur in the course of their education overseas.

Since education and living costs overseas can turn your life and pockets upside down; Financial aid is provided by various sources to minimize the financial burden on parents and students.

Financial Aid is a term used to describe a number of sources and programs that assist students fund their education. There are three main types of financial aid, they are:

  • Scholarships /Grants /Fellowships /Assistantships / Need based aid - do not have to be paid back to the institution that provides it. They are given to students on a merit basis. Students applying for the MS degree, if you have a good academic record, can expect to fund your education abroad almost free of cost! Money is available from the universities in the form of a TA (teaching assistant) or a RA (research assistant) which enables the students to support themselves completely

  • Loans – have to be paid back. Loans can be borrowed from financial institutions or banks. Therefore if for any reason you are not eligible for a scholarship/fellowship/grant then this is an avenue to explore to fund your education

  • Student Employment programs – Money earned does not have to be paid back. Student employment programs are designed for students to work and earn. These enable you to work and pay off for your education costs simultaneously


Sources of funding:

There are two main sources of aid – one in your home country and the other abroad

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The amount of financial aid needed is assessed by the amount parents can contribute minus the total cost of education. The difference of this will be the amount of Financial Assistance required by the student.

The Government of your Country

Inquire with your government and find out if they have any funding for students looking to pursue their education overseas. The Government may put down certain terms and conditions, which the student will have to abide by, but this could be one of the avenues for financial aid. Some communities have trusts that offer students of the community, scholarships to pursue higher education.

Colleges and Universities Overseas

A number of colleges and universities offer financial assistance to international students in the form of scholarships or need based financial assistance. While scholarships are determined on your merit, need based financial assistance is evaluated on your family's economic profile.

Private sources

Private sources and organizations offer financial assistance in the form of grants and loans to international students. There are a number of requirements that a student will need to fulfill while applying for these grants and loans.
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