Overseas Education and how proper planning can help.
When looking to study abroad, students can often be deterred by the high cost of studies and stay. However, scholarships can help to alleviate the cost by providing funding to students to help with the expense of tuition fees, accommodation, travel and academic materials.
A scholarship is a financial award granted to students to help with the cost of studying at university. Scholarships can vary in amount and can be awarded based on various criteria such as academic achievements, extracurricular involvement, research areas, leadership potential or financial need.
Of course, certain scholarships may only be for domestic students, while others are also open to international students.
Types of Scholarships (for international students)
1. University scholarships: These are given by the university based on good grades, extracurricular activities or financial need. Universities will set their own criteria for applying to scholarships, and each university has its own list of scholarships it provides. Tip: go through the university website carefully to get information on these.
2. Academic or merit-based scholarships: These are for students who achieve high grades in school, either in a particular subject or overall. Such scholarships normally consider consistency of marks as well.
3. Extra-curricular scholarships: These are for students who are exceptional in areas such as sports, arts or music and are looking to pursue that at university. Comparatively fewer universities offer such scholarships and it is important to understand the criteria, for those that do.
4. Country/region-based scholarships: These can come from a range of sources including universities themselves, government departments, businesses or charities and will be aimed at students from a particular country or region. These are popular in the UK and USA and are aimed at providing an opportunity to students from a specific demographic. These may also change over time, as the university aims to keep their student body diverse and representative.
5. External scholarships & Government scholarships: These come from organisations outside universities, such as businesses, alumni networks, charities or higher education associations. Many governments will have their own range of scholarships that will fund tuition fees and travel expenses (such as airfare) for international students wishing to apply to study in their country. Many will also be targeted at students from specific countries or regions – as a toll of their foreign policy.
Applications to them are usually separate from any university application forms.
Further, scholarships differ in the amount of financial assistance they provide as also the manner in which it may be offered to students.
1. Fully funded scholarships: These cover all expenses, including full tuition fees, accommodation and living costs throughout the university degree course – what every parent wishes for 🙂
2. Partially funded scholarships: Unlike a full scholarship, these will cover only some of a student’s expenses. Therefore, students may need to find other ways to pay for the rest of their university expenses such as personal savings, help from families, part-time jobs or other scholarships. Also, these may not be for the full duration of the programme.
3. Research grants: Research grants are financial awards given to university students so they can do in-depth studies and learn more about specific topics in their courses. These are offered globally and can be provided by institutions, government bodies or private organisations.
4. Work-study programmes: Some universities offer programmes in which students can work and gain experience while earning money for their studies. This may be in the form of preferential on-campus work or internship within the department / faculty.
What is a Bursary ?
A bursary is a type of scholarship with the main purpose of providing financial support for students who aren’t able to cover the cost of their education even with the help of their parents. A student bursary helps by giving students money to pay for their education.
It is important not to confuse a bursary with a loan. Bursaries are funds given to you to pay for your education that you do not need to pay back. If you have a student loan, on the other hand, you will most likely pay them back with a higher interest rate.
At MindScan, we work with students & handhold them through the entire process of university research and application.  If you’re thinking about applying to the best universities in the world, we’ll be happy to partner you on this journey. Connect with us today !
