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Do you want to study abroad? Are you hoping to secure a significant scholarship or study grant? Studying overseas requires a lot of planning and preparation which can be a complex, time-consuming and expensive undertaking. StudyOverseasNow.com are overseas education consultants that specialize in providing expert advice throughout the consultation and application process. We help students secure the best scholarships at the highest ranked universities. Book a FREE Consultation with an experienced education & career counsellor to find out what overseas study options are available.
Financial planning is a critical component when planning your future studies abroad. Unless you have significant savings to invest in your education, sourcing an applicable scholarship or applying for an education loan is essential. However, most students are unaware several schemes exist that allow students to lower the cost of their tuition fees irrespective of their academic grades. There are a variety of fee waivers and work-study systems in place that can help you cover the cost of studying and living abroad.
How to Apply?
Every university has their own application process and selection criteria. Make sure you don’t take a blanket approach to applying for scholarships or study grants overseas. Each application needs to be specifically focussed towards the college or university you are applying. The minimum requirement for most students to avail a scholarship is 60% or equivalent. Additional information about scholarships including a FREE Scholarship Application Template can be found below.
<<DOWNLOAD YOUR FREE SCHOLARSHIP APPLICATION TEMPLATE>>
In this blog we discuss the several ways students can finance their higher education overseas; including Scholarships, Study Grants and Assistantship Schemes. But first lets define the key differences between each financial measure:
1. What is a Scholarship?
A scholarship is an allocation of money or financial aid provided by an education institute for the duration of your studies. Typically, scholarships are provided based on academic merit. Scholarships are subject to Supply Vs Demand, be aware you are competing for scholarships locally, nationally, and internationally.
Most universities have a finite budget for scholarships; therefore, apply early and accept your offer to avoid disappointment. Always read the terms and conditions on your offer letter, most universities place a lapse date on when a scholarship has to be accepted. For those who receive exceptional grades from school or university you may be eligible to apply for a full scholarship and access stipends to support your living costs. Please note, to receive a full scholarship your grades at school or university need to fall within the 1% to qualify.
Students can rely on other schemes to receive scholarships and bursaries. Several governments, alumni associations, individual donors, and NGO’s {Non-Government Organisations}have annual scholarships students can access. Please mote, many of these scholarships will come with specific requirements.
In most instances you will be required to attend class regularly and meet the minimum pass mark for each subject to continue receiving your scholarship. Our team advises all students receiving scholarships to contact their appropriate student support team and volunteer as a student ambassador to help promote the university domestically and internationally. All universities have a significant online and social media presence. This will allow you to grow your network and increase the chances of securing meaningful employment following your graduation.
The types of scholarships most commonly available at universities include the following:
Merit Based – Applied based on academic merit only.
Student Demographic – Based on region, gender, nationality, or medical background.
Location – Where you are applying from and if this is considered a diversity market for the university.
Subject Specific – Popular courses where universities are trying to attract a specific demographic of student.
Financial Disadvantage – Students who have performed well academically but are unable to pay for their tuition fees. These students are means tested based on your family’s financial capacity.
Athletic Scholarship – Scholarships awarded to students who are {usually} playing at a national or international level in a sport. Its best to identify which university specialises in specific sports.
2. What is Assistantship
Assistantship is usually an American / Canadian scheme whereby students are paid for on-campus employment in their field of study or research. This allows students to generate income in an area of interest whilst studying abroad.
This type of work is preferred as it can lead to future employment in a related field. Most students working part-time whilst studying do so in an unrelated industry; hospitality is the most popular industry for students studying overseas.
The payment received can be made via an upfront reduction in your tuition fees or regular monthly payments which will be placed in your bank account. Universities may provide choice when it comes to the type of assistantship you can apply for, these include:
- Teaching Assistantship: You will be assigned to a specific faculty. Duties might include lesson planning, providing support to students throughout the semester, organizing classroom-based activities and managing classroom behavior. If a student is studying at a higher level, they may be involved in the teaching of specific units or areas if their knowledge and understanding permits.
- Research Assistantship: These jobs are centered around the verification of reports and data generated by specific research within a
department or faculty. You may be required to help develop research papers and findings throughout your tenureship. Ideally, you would be selected based on your own expertise in this field. This is a great way to secure future employment and research funding once complete and could lead to PhD opportunities.
What is a Study Grant?
A study grant is a discount awarded to all students. There are no academic entry requirements and students can access a discount providing they apply on-time and at a university which provides this form of financial support. Study Grants act to generate additional students for programs where limited numbers exist or to generate increased brand awareness about a chosen subject area. Our team advises all students to apply early as the money provided within the study grant scheme are limited and operate on a ‘first come, first serve basis’.
If you are applying for a needs-based scholarship please support your application with appropriate evidence. You can expand further on your personal circumstances in your Statement of Purpose.
<<DOWNLOAD YOUR FREE SoP GUIDELINES & TEMPLATE HERE>>
Additional Information:
| Study Grant | Scholarship | Assistantship | ||
| 1 | Approach | For All Students {Limited Availability} | Financial aid provided on a merit basis | Monthly payment or a reduction in tuition fees |
| 2 | Types | Study grants can be offered at all study levels in any faculty | Merit-based, Student Demographic, Location, Subject Specific, Financial Disadvantaged students, Athletic | Teaching Assistantship & Research Assistantship |
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I hope you found the information in Scholarship blog useful. StudyOverseasNow.com are overseas education consultants that specialize in providing expert advice throughout the consultation and application process. If you would like to study abroad and hope to secure a significant scholarship or study grant book a FREE Consultation with an experienced education & career counsellor to find out what overseas study options are available. We look forward to helping you start your journey to a brighter future!
