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US: +1 651-246-8988 | INDIA: +91 080 41234927 | WHATSAPP: +91 6366 834954

Minnu’s Minute: Funding Your University Education

So far I have been telling you the benefits of studying abroad. If you are considering studying abroad, you might be concerned about how you would be able to afford your education. This is a legitimate concern because studying abroad can be expensive. That being said, today I would like to present a few different ways to finance your studies abroad.
Scholarships: Scholarships are one of the best ways for you to fund your college education. Go to the university’s “Financial Aid and Scholarship” webpage and explore scholarship opportunities and their deadlines. Consider looking into different scholarships that are given yearly. In addition, start exploring external scholarships through foundations and corporations.
Graduating Early: Many universities offer college credit for work that students do in high school.  If you have completed IB courses or courses through the Cambridge syllabus, be sure to check with your prospective universities to see if they will grant you credit for what you have already done! Another way to receive college credit is through the Advanced Placement courses. If your area or school does not provide the courses, it is still possible to self-study and take the AP Exams; the university of your choice may grant you college credit based upon your exam score.  College credit is useful because it allows you to bypass an introductory course or two and may even allow you to graduate early, based upon the amount of credit that you bring into college and the requirements in your area of study Graduating early means saving a lot of money! If you do not have credits through high school courses/exams but would like to explore graduating early, I highly recommend that you talk to your academic advisor once you arrive on campus and tell him/her about your plan to graduate early. Then, work closely with them to layout a tentative plan to do so.
On-Campus Jobs: It is always good to get an on-campus job while you are studying. You will receive a monthly income that you can allocate towards your personal expenses or to your tuitions and accommodation expenses. The work doesn’t always have to be unrelated to your major. My friend, a mathematics major used to be a calculus tutor for his math department. In addition, working on-campus will help you acquire skills that can be transferrable to the professional world. As a student, I was a resident assistant at the university. It significantly helped me financially as the job paid for my accommodation and gave me a monthly stipend. Being a resident assistant helped me strengthen my interpersonal communication and leadership skills. I highly encourage you to explore the opportunity of being a resident assistant at your university.
Internships and Research: At every university, you will get a good three months off during the summer and about a month off during winter. Try to utilize this time to take part in paid internships or research programs. There are many corporations and research institutions that have paid, completive programs. Go to your career center and explore such opportunities. I spent most of my summers interning for Cummins Inc., a Fortune-500 diesel engine company, in different functions. In addition, I did a fully-funded research project during one of the summers where I received a monthly stipend. The research and the internship fueled my experiential learning experience, strengthened my resume and funded my personal expenses!
 

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