|Finance & Travel Tips
|Megway Career Consultants has a well
co-coordinated Travel Desk that offers the following services
is Financial Aid
Financial aid is a means by which students can reduce or eliminate
the expenses that they will incur in the course of their education
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
|Sources of funding:
There are two main
sources of aid - one in your home country and the other abroad
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.
Sources of financial aid:
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 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.