Funding an education abroad is a challenge for many students. The expenses to study overseas vary from country to country. Many international applicants dream of studying at highly ranked universities across the globe but think the cost is out of reach. However, there are a number of avenues you must explore when looking for funding for your overseas education.


1. Merit based Scholarships

A merit scholarship is awarded based on the level of promise the student demonstrates, regardless of their financial status. It is provided to students who show a high level of achievement in specific areas, such as academics, athletics, or the arts. The reward amount depends on your overall performance and profile. Merit based scholarship opportunities vary depending upon the country you’re planning for. While the US and CANADA provide a vast variety of scholarships for undergraduate students, the UK, on the other hand, offers scholarships mainly to postgraduate students. If you excel in your academics, or have aced the SAT exam, or received excellent AP Scores, you’re in the race to achieve merit based scholarships provided by the overseas universities!


2. Need Based Scholarships

Need-based scholarships are awarded based on financial need. Those students who can demonstrate need at a predetermined level are eligible for this type of aid. It is awarded in the form of grants by most universities. Prima’s Overseas Education Consultants suggest you to be well prepared prior to deadlines to provide for any supplementary documents to be considered for financial aid.


3. Need Blind Scholarships

US universities charge some of the highest tuition fees in the world. Distinctive to the US, need blind scholarships do not consider your financial resources or financial background while offering you admission. While each university has certain policies regarding need blind admissions, to name a few, mentioned below are five prestigious universities offer need-blind and full-need financial aid to international students:

a. Massachusetts Institute of Technology

b. Harvard University

c. Princeton University

d. Yale University

e. Amherst COLLEGE


4. Educational Loans

Often loans are the financial compromise that students have to make to ensure that they can continue their overseas education. Financial aid from banks requires you to pay the money back, often within a certain amount of time and with premium. Student loans for studying abroad are common and popular across the world.

Do not let the restriction of funding affect your dream to STUDY ABROAD. Understand your finances and the amount of financial aid you may require to fund your education. Prima’s Overseas Education Consultants can assist you to map out your budget while keeping a tab of the scholarship deadlines you may otherwise miss out on!

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