This in-depth guide helps future international students pursue their academic goals without overspending. Covering early planning, scholarships, affordable universities, cost-saving tips, and working while studying, the article equips students with the tools to navigate studying abroad on a limited budget while still making the most of the experience.
A university degree is an investment in your future, but like the best investments, it takes some careful planning and preparation.
Studying abroad has many advantages, which you can read more about here. Of course, it can also pose a few extra challenges, particularly financial ones. But don’t let a university’s price tag keep you from pursuing your dreams. Students almost never pay the full price, even at the most prestigious schools. Here are the best ways to reduce your tuition bill and afford studying at a university abroad.
As a freshman in high school, your first thoughts may not be about where you want to go to university, but the earlier you start thinking about the direction you want to follow, the better you can prepare for it.
The first step in pursuing any university degree is to get accepted and the second is to get scholarships, so keep up those grades and start working in any areas where you might be lacking. Find out the entrance requirements for the universities you are interested in and start preparing ahead for those. Higher grades and test scores generally mean more financial aid opportunities as well.
Another important factor is to make your CV stand out from the crowd. Get a head start by participating in relevant extracurricular and educational activities throughout your high school years by doing internships, volunteering, participating in student organizations, or taking on leadership roles.
Improving your language skills is important too, particularly in English if it’s not your first language, as it will probably be the language you will apply and study in. A well-written personal statement letter or scholarship application essay can make a huge difference in your finances.
It is also never too early to start saving some money for your future goals, particularly if you have occasional or part-time work throughout your high school years. Every little bit helps.
There are many scholarships out there. Sometimes it just takes some work to find them. Once you know what universities you would like to study at, start researching the available financial aid.
Many private universities award merit scholarships upon admission just based on a student’s academic achievements or outstanding accomplishments. This is where working hard ahead of time pays off. If you are good at a sport, see if you can join a university sport scholarship. If there are specific scholarships for your degree program, apply to those. There are also need-based scholarships and ones offered by the government or awarded by private companies for studying in a certain country.
University websites list their available scholarships, and many more can be found online through scholarship databases which list scholarships by country or area of study.
Keep ahead of the application deadlines by making a list with due dates and gathering necessary documents needed to apply. Some require essays or motivation letters and some don’t, but going the extra mile is worth it. Scholarships which require more work often have fewer applicants. Youni’s consultants are here to help you stay on schedule and get the most scholarships possible.
There is no limit to how many scholarships you can apply for, so apply, apply, apply! The more work, the higher the potential reward.
When considering your study abroad options, don’t just focus on the well-known universities. There are many universities out there with great degree programs for students without the higher price tag of famous schools.
Public universities usually have much lower tuition than private ones, and some countries like Germany and Denmark have free tuition for all EU students. In the US, universities in central and southern states tend to be cheaper than those on the coast. Smaller colleges are also often cheaper and give students more opportunities to get to know and be mentored by their professors.
Budgeting carefully can make the difference between some money saved or an empty bank account. Listing your main expenses and setting aside clear amounts to be used monthly for tuition, housing, food, transportation, and miscellaneous needs will show you how much is left over for fun activities, or how much more you need to earn through scholarships or work. Don’t forget to include a few trips home in your budget!
In some countries, a bachelor’s degree only takes three years, as opposed to four years in others. This makes a whole year’s difference in your tuition and living expenses. Attending university in a smaller city versus one in a capital can also save a lot. In smaller towns, rents are usually cheaper and students can often walk or cycle to classes.
Sharing an apartment with other students and cooking your own meals saves money too. Cooking your meals will benefit your budget and keep you healthier.
Most students get work to support themselves, supplement their budget, and gain useful experience.
In the US, universities have work-study programs which offer students flexible jobs on campus so they can work around their class schedule.
Besides part time jobs in coffee shops, restaurants, or in retail, students who excel in a certain area can offer tutoring, which is easily done online and usually pays a lot more per hour.
Summer jobs are a great way to boost your income with full-time work. Work and Travel programs let students have some summer travel and adventure while making money at the same time. Paid internships are also a great way to supplement your income while gaining experience.
If your budget is still too tight or you want to start out with a bit more in the bank, you can consider taking a gap year between high school and university. If you use the year to work and save money while planning out your future goals, it won’t be a waste of time.
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