Education comes at a price today and earning a reputable degree is no different. Every country is outdoing the other in terms of higher education and the tuition fee for every program has seen a rise over the years. Most students who dream about studying abroad look for some sort of financial support to earn the advanced degree. Fortunately many foreign universities today offer financial aid in a form of Scholarships, assistantship, fellowships and loans. Aspirants of master’s program can avail financial aid to support their education.
It is very important that you research on your options for financial aid. Choose your options wisely and understand the type of the financial aid to gain maximum benefits. The various types of financial aid available are:
Many universities, governments and other external agencies offer Scholarships for students today. Most of the Scholarships are offered for a specific duration of the study program. Students wanting a scholarship will have to meet certain requirements to be eligible for the Scholarships. While some Scholarships cover partial tuition fee, cost of living, other expenses like travel and accommodation, there are a few that offer exemption Scholarships. These Scholarships are offered to exceptional students who want to study but are unable to find sponsors. These Scholarships are offered by the third parties and help the students to cover most of the educational expenses.
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Competition for fellowships is immense as this is one of the best financial aids a student can avail. Along with an exemption of the course fee, a student with a fellowship will be given a monthly stipend every month. However, fellowships are awarded to students who can prove of some help to the related department in the university. Fellowship awardees must also perform well academically along with adding resources to the department.
Teaching assistantships (TAs):
The professors in the university will require help in their teaching tasks. Hence, some students will be awarded with teaching assistantships to lend a helping hand to the professors. A student with a teaching assistantship will have to put in 20 hours in a week doing the teaching assistantship job, which is to help the teachers in correcting the homework, conducting tutorial and the like. In order to be eligible for the TA, students must possess English proficiency and should have exceptional communication skills.
Research assistantships (RAs):
As the name suggests, a student who is awarded with the research assistantship must assist a professor in his research. The student will have to invest a minimum of 10 to 20 hours per week in the research work besides studying. Some of the research assistantships lead to a complete tuition fee waiver and also helps a student with stipends.
Sometimes the departments and the universities may not have enough funds to support the students. In cases like these the students can opt to take up an on-campus job to supplement their expenses. You could opt to work in the library, cafeteria or the stationery shop within the campus premises. In such cases you have to calculate the number of hours you will be able to put into these jobs.
It is very important that you do a proper research and choose the right financial aid. Check for the details of obtaining the financial aid with specific universities. See for the terms and conditions attached, if any. Also check if your home country offers any financial support for your education abroad. Though the criteria for admissions and the financial aid are almost similar, the rules are stringent for the financial aid and the completion is also intense. Make sure to invest sufficient time to explore the various options.
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