Tag Archives: studying abroad

New Zealand is one of the ideal educational destinations for students pursuing their MBA degree as it offers a wide range of academic choices, MBA specializations, high-quality education, affordable fee structure, and sustainable job prospects.  An MBA in New Zealand is a wise career move as the globally-recognized degree can get students the desired job in any part of the world. Moreover, graduating with an MBA from New Zealand may get your child a considerably higher income than their peers in other countries. Overview of MBA course structure and fees in New Zealand New Zealand is home to some of the finest educational institutions in the world for MBA courses. A full-time MBA requires 180 credits over 12 - 16 months or 60 credits every semester. Students can choose an MBA degree with or without specialization.  Average tuition fees for an MBA in New Zealand are between $26,000 - $37,000 with the highest course fee of $51,396 levied by the University of Canterbury and the lowest tuition fee of $36,800 levied by Manukau Institute of Technology.  The fee structure for an Indian student is between INR 11.4 lakhs to INR 31.3 Lakhs per year, depending upon the university one chooses.  The living expenses of the students depend upon their lifestyle. How to save for MBA in New Zealand? Although studying for an MBA in New Zealand is affordable compared to the study cost in countries like UK and USA, parents do need to save and invest money so that their child can get the desired degree without the burden of an education loan.  Take the following steps to save for an MBA degree - 1. Research Remember the first step of any plan is the most difficult one as it requires thorough research. Gathering information is necessary so that you can create a full-proof plan that will prove fruitful in the long run.  you can also use the College Cost Calculator on the EduFund App to find out how much you will have to pay for your child’s MBA. This will help cut your research time.  2. Create a financial plan Create a financial plan that will give direction to your ideas and encourage you to take the necessary steps towards your goal.  3. Take the help of professionals If you are a new investor, it might become a tad difficult or confusing to make the right decisions. Take the help of professionals because they have the necessary tools and resources to compile the required data and make the correct choices.  The saving experts on the Edufund App are adept at creating a customized financial plan and selecting the best investment opportunities through mutual funds, US ETFs, US stocks, and Digital gold. These experts, along with the Edufund investment calculators, will act as a guiding force and be with you every step of the way.   Additional read: How much to save for MBA in the USA for your child? 4. Create a diversified portfolio Do not be dependent upon only one type of scheme. Instead, create a diversified portfolio that includes managed funds, savings accounts, term deposits, mutual funds, etc. The high-accuracy fund tracker on the Edufund App can monitor over one lakh data points and 400 financial situations to make solid suggestions about the most profitable investment schemes. a) Managed funds According to available data, one of the most common reasons for setting up a managed fund is to save money for a child’s higher education. It is feasible to put some money aside in a growth-oriented managed fund as early as possible. By the time the child is of age to study for an MBA in New Zealand, the parents will have saved a good chunk of the required money.  b) Savings accounts and term deposits If you cannot deal with the volatility of the growth fund or have started late and have a considerably shorter period for saving and investing, do not worry. The safest and the best possible mode of saving is by investing in a savings account and term deposits. It is better to add to the term deposits whenever they come up for renewal so that after a few years you can have a good amount of the money for your child’s MBA degree in New Zealand. c) Mutual funds The best investment scheme in the current market is investing through mutual funds. Take the help of SIP for regular investments as the estimated returns are between 12% to 15% in large cap equity funds and 14% to 17% in mid-cap equities. The SIP calculator on the Edufund App can prove useful in determining the available returns from the chosen funds.  Conclusion International students, especially Indian students consider an MBA in New Zealand a good move as it gives them global exposure to cash in excellent career opportunities in any business sector.  Parents who have the necessary funds through saving and investing can easily send their child abroad and fulfill their dreams of better education, as compared to the parents who have to look at other means to fund their child's education. Consult an expert advisor to get the right plan TALK TO AN EXPERT

The intense education inflation and extremely higher fee structure leave little room for pursuing a higher degree course abroad at one’s expense. Students with genius brains cannot put their intellect to use due to the lack of appropriate funds.  At such times the Commonwealth Scholarship sponsored by Commonwealth Scholarship Commission (CSC) is a blessing in disguise for brilliant minds as it provides a much-deserved opportunity to boost their academic brilliance and skills. What is a Commonwealth scholarship? The Commonwealth Scholarship is a program initiated by the British government that provides fully-funded scholarships to deserving students residing within the Commonwealth countries. The scholarship program is funded by the UK Foreign, Commonwealth, and Development Office to attract talented individuals to UK universities and support sustainable development.   The Commonwealth Scholarship program is open to 800 students each year. The number keeps on increasing every year so that the CSC can make constructive changes on the global stage. Additional read: Questions to ask before sending a child to UK? Who can apply for a Commonwealth scholarship? A permanent resident or a citizen of a Commonwealth country. A refugee or a British-protected person. Students with an undergraduate honors degree of at least upper second class. Students applying for the Ph.D. program must have a Master’s degree. There is no minimum age for applying but the maximum age limit is 40 years.  For the academic year 2023, the CSC is accepting online applications from students of all majors. It has launched varied programs for both the Master's degree and Ph.D. levels for the students to choose from. How can you apply for the Commonwealth scholarship in the UK? The Commonwealth Scholarship Commission does not accept a direct application hence students can apply through the nominating bodies. These include government, non-governmental bodies, and charitable institutions.  Students have to visit the MHRD website and then the ECAS portal and apply to both before the stipulated deadlines. Additional read: Can your child do an MBA within 25 lakhs? List of documents required for the Commonwealth Scholarship in the UK Proof of citizenship. If the applicant is a refugee then the document that proves the refugee status. A full transcript with details of higher education qualifications. References of two persons should be submitted by the referee in the online application system. Supporting statement from the proposed supervisor in the UK.  Scan copy of the passport. A concise CV/resume Time to apply for Commonwealth scholarship 2023 The process for receiving applications is open between October to December and students should start checking on the official website even before the tentative dates.  Numerous programs under the Commonwealth Scholarships 2023 are open for applicants throughout the year hence interested students can log in to the website and find the timings for their preferred degree courses.   Funding by the Commonwealth scholarship commission and related benefits The Commonwealth Foundation provides grants of up to £200,000 (INR 18,464,000) to eligible students for four years as funding for the postgraduate degree courses. This is a fully-funded scholarship program by the UK government which covers all the expenses of the students. It includes Economy class airfare tickets for round trip. Transportation cost. Visa and travel fee. Medical expenses. Tuition fees. Textbook costs. Accommodation expenses. Allowance for woolen clothes during the winter season. Personal expenses - allowance of £1,133 (INR 104,599) per month and £1,190 (INR 109,860) per month for small cities and big cities respectively. The scholarship also covers family allowances if the couple stays for at least 18 months. It includes- Spouse allowance of £225 (INR 20,772) per month if the applicant and spouse are living together at the same address in the UK. Child allowance of £225 (INR 20,772) per month for the first child and £110 ( INR 10,155) per month for the second and third child under the age of 16 if the scholarship applicant is living with their spouse and children at the same address in the UK.  Child allowance of £450 (INR 41,544) per month for the first child and £110 (INR 10,155) per month for the second and third child under the age of 16 if the scholar is a single parent, divorced or widowed and is accompanied by the children and living at the same address in the UK.  Is the Commonwealth Scholarship enough to study in the UK? The Commonwealth Scholarship is enough to study in the UK as it is a fully funded program that covers both the study costs like tuition fees as well as related expenses. Conclusion The Commonwealth Scholarship is a golden chance for deserving students who are unable to study abroad just because of the lack of funds. The program offers opportunities to such students so that their dreams can come true. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Overseas education can open numerous doors of growth and opportunities for a career, but it is expensive and places a huge financial burden on parents who want to send their children to foreign universities.  The covid-19 pandemic, along with other difficulties, has managed to ravage the savings of some parents to a great extent. Moreover, inflation has also led to high education costs, and it has now become difficult to ensure the education dreams of a student without proper financial planning.  If you are short on money for your child’s overseas education and have hit a roadblock, then it is important to look at options that will help in arranging the money. Tips to arrange study abroad funding 1. Installment option on fees Studying abroad is not easy as it requires a huge amount of money to meet numerous expenses. A big chunk of it goes towards the tuition fees, which have to be paid upfront, at least for a full year.  Times have changed, and educational institutes understand the difficulty of arranging bulk amounts to be paid as tuition fees.  Foreign universities are allowing the option of installment payments or deferred payments. If you are short on money for your child’s overseas education, apply for an installment option on tuition fees. Paying fees per semester is affordable compared to the yearly fees as it minimizes the burden on parents to a great extent. Foreign universities are offering financial assistance to students whose families are facing financial difficulties. In some cases, the fees of the student are reduced, and in other cases, the payments are deferred to a doable period so that the money shortfall does not impact the child’s education.  2. Fast track your studies  Students can fast-track their study courses if they are facing a shortage of money and are unable to meet the educational expenses in full. Most foreign universities have two to three-year programs, which are subdivided into semester formats. Students have to earn a minimum number of credits during this period. When you are short on money, it is not feasible to complete the degree course by attending college for the entire period. Students can enroll for additional credits and complete the program early. This will bring down the education costs and manage the money shortfall.  3. Apply to university alumni for financial aid  Sometimes unforeseen circumstances can deplete the amount of money that the parents have saved for their child’s overseas education. They may have a considerable shortage of funds and may be unable to meet all the education expenses easily. Students can approach the university for financial assistance. Most universities have an alumni network that provides monetary aid to deserving students with exemplary records who are unable to finish their education just because of money shortages. The alumni network evaluates the student’s grades, work experience, past performances and the reasons for money shortage and, if found satisfactory, compensates by paying the remaining fees.  Some universities have an existing fund for students who are brilliant performers but, due to circumstances, are unable to pay the fees. If the student applies for financial assistance, then the fees in such cases are either reduced or paid by the fund held by the university itself.  Additional read: Budgeting tips for parents 4. Select education loan with care If you are short on money for your child’s overseas education, then a loan is also a viable option. Select the education loan with care. Banks and NBFCs are vital sources of loans; hence check whether any sources are calculating the interest amount on a flat rate basis or on a reducing balance.   Look at the interest rate and consider other factors like repayment tenure, margin amount, and moratorium period as they are equally important. Remember, the interest rate on a reduced amount will be considerably lower than the total loan amount, so choose wisely. The college cost calculator on the EduFund app helps in calculating the future cost of college, which gives parents time to plan and save for the child’s college expenses in the smartest possible way. Financial experts will create an education savings plan that will meet the requirements of a student’s education aspiration. It also offers an option of taking out low-interest education loans with top banks.   Conclusion The desire to educate a child abroad is natural, but it often takes a toll on the parents who find themselves short on money for their child’s overseas education. Planning the expenses in another country with another currency is a task that, if not done properly, can create serious issues later on.  Consult an expert advisor to get the right plan TALK TO AN EXPERT

We are always prepared for when the markets correct. As rational investors, we know we should invest more in equity-based investments when the markets are low. But, do you know the right action to take when the markets are at a high? Traditional investor mentality Whenever the markets witness sharp extremes of high or low, investors become cautious about their next move. However, being extra cautious can often reduce the potential of the investments and make the investors take decisions that do not serve their best interests. Traditional investors usually see the market high as the perfect moment to stop their ongoing investments and sell their holdings. They then wait for market corrections to re-invest this money. This can be the right decision for investors who require money at that point in time. But liquidating your assets can create a huge speed breaker in your wealth creation journey. Investment strategies during the market boom 1. Review your portfolio This is the first step before you take any decisions related to your investments during extreme market movements. Do a thorough analysis and review of your portfolio. In this review, make sure you go fund by fund to check the performance. A detailed portfolio review will help you know what has changed in your investments from the time you invested in those market conditions. 2. Rebalance your portfolio The market volatility directly impacts your portfolio's asset allocation. E.g., when you would have begun your investment journey, your portfolio's equity: debt ratio would have been, let's take, 50:50. But when the markets boomed, the equity: debt would have increased to 70:30. This causes over-exposure to equity, which thereby increases the risk component of your portfolio. As an investor, you should periodically rebalance your portfolio or as and when the market demands so that your portfolio still performs optimally and you are way ahead of the market curve. 3. Invest in dynamic asset allocation funds A DAAF follows an intelligent asset allocation strategy depending on the market conditions. It works this way – When the markets are overvalued, this fund cuts down on its equity exposure and increases the debt allocation. In contrast, when the market is undervalued and has the potential to grow, this fund increases its asset allocation towards equity and reduces the debt exposure in its portfolio. Such funds provide the investors with the best of both worlds, that is, equity and debt, and generate steady returns regardless of market movements. This balanced fund investment is best for investors with a low to moderate risk appetite. Additional read: Importance of starting investment early 4. Give importance to value investing Even when the markets hit record highs, some stocks or shares are valued way below what they are worth. Value investing is an investment strategy that invests in stocks that are trading way below their intrinsic value and have a much higher potential for growth in the future. Investing in such stocks or funds providing exposure to such stocks helps the investor gain growth opportunities in their portfolios. 5. Avoid lump sum investments in equities The worst time to make lumpsum investments in equities is when the market is already booming and has a high P/E ratio. This means that the markets are already overvalued, and a correction is coming soon. The market movements follow a wave pattern, where after every time the market goes up, it corrects to a certain level. Instead, you could make SIP investments in equities, which captures all market movements and also gives you an additional benefit of rupee cost averaging. 6. Goal-based investing Make a detailed investment plan to efficiently and effectively allocate your income. Make a set of objectives that you want to achieve with your investments. It may include buying a house, purchasing a car, planning an international holiday, or your child’s higher education abroad. When you know what you are investing for, you know what corpus you want to end up with. This helps you make your investment journey as smooth and straightforward as possible. The bottom line is, when the markets are at a high, do not sell your investments hurriedly and re-invest entirely in the debt market. Also, putting your investments on hold can hurt your long-term goals and objectives. Follow the proper steps into rebalancing and diversifying your portfolio to ensure you are always in a comfortable position regarding your investments. Moreover, short-term volatility is not much harmful to long-term investors. Always keep your goals in mind and invest systematically. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Education is the most valuable investment. This is why millions of Indian parents aspire to send their children abroad for foreign education. Countries like the United States and the United Kingdom offer academic excellence and better infrastructure. But with the increase in tuition costs, sending your child abroad is tougher. Here are 5 ways to financially prepare yourself to send your child abroad.   Start early with long-term financial goals   The first rule of saving is to start early. Examine your spending habits and eliminate unnecessary costs. Set aside a certain amount of funds on a monthly basis for your child's education. Saving and making investments early in life increases your chances of reducing your ability to procure loans and minimizing the effect on future cash flows.  1. Estimate present and future cost  When calculating and budgeting, it is recommended to anticipate the rising prices. The more funds you save now, you are in a better the position to use them for your future needs. This gloomy outlook will ultimately allow you to improve your probability of establishing a prospective foundation that outweighs actual expenditures.  2. Consider inflation and currency exchange  While planning to send children overseas for higher studies, it is required to consider the country's inflation rate as well as the currency's potential depreciation fluctuations. Investigations and knowledge of historical inflation and depreciation trends will help calculate the additional amount required to manage education overseas. For instance, the falling rupee has directly affected the budgets of hundreds of Indians studying in the USA today and increased their cost of living and parents who wish to send their children in the future.   3. Find the best investment opportunities  Investigate medium- and long-term investment possibilities in which you may begin investing as soon as feasible. Determine your risk tolerance and investing capacity, and then invest accordingly. A well-diversified technique with an optimistic approach will allow you to develop a progressive investing strategy.  4. Speak with an investment advisor  Don’t shy away from consulting with an expert, if you are concerned and underequipped with your framework agreement. Investment advisers and foreign education professionals can assist you in analyzing your possibilities and establishing a more comprehensive and attainable approach.  source: pixabay What makes foreign education more expensive?  Without a doubt, the expense of studying overseas is more than the cost of education in India. The amount varies depending on the university, country, course, and length of the program. As a result, it is critical to choose universities that are within your financial means. The currency exchange rate and higher cost of living make foreign education expensive. Let’s look at more factors contributing to this cost!   1. Tuition Fees  Tuition fees are the largest mandatory expense. Depending on the course and location of study, it can vary. Master's degrees are more expensive per year than bachelor's programs.   Courses like Criminal Justice, Philosophy, English, and Mathematics are considered the most affordable subjects in terms of tuition fees. Courses like Health Sciences, Physical sciences, Business & Nursing are considered the most expensive subjects in terms of tuition fees.   Tuition fees may be standardized or depend on the selected course. The report of probable tuition fees across the world's favorite destinations is as follows. 2. Academic Supplies  Another expense to prepare for is Academic resources, which range from textbooks and stationery items to computers and art tools. The report on average educational supplies costs worldwide are as follows: 3. Rent and Utilities  Accommodation is usually the second-largest expenditure for overseas students after tuition. Students can rent accommodation in small towns closer to their universities to save on costs. The report on monthly rent cost country-wise is as follows: 4. Shopping and groceries  To cut down on costs, students can buy products that are at maximum discounts. Rather than purchasing big brands, students can buy cheaper brands that are more valuable. Students can plan to cook in batches and freeze the cooked meal for consumption. The report on country-wise monthly grocery costs is as follows: There are various other costs associated with being educated abroad. These costs include visa costs, insurance, and university commuting expenses. To manage all these examples, one must be financially prepared before sending your child for education abroad.   Higher education abroad is an enriching journey with several advantages; it can be affordable if you start saving consistently. These 5 ways can help you financially prepare yourself to send your child abroad and help them achieve their dreams stress-free! Consult an expert advisor to get the right plan for you  TALK TO AN EXPERT

In the previous article, we discussed can we really do MBA in the UK for under Rs 25 lakhs. In this article, we will talk about how much to save for MBA in the USA for your child. The USA is the number destination for MBA but this course comes at a high price! Most MBA universities charge thousands of dollars in tuition fees and on top of that, there is the cost of living but there are many ways to reduce these costs. From scholarships to fee waivers to exploring savings opportunities, here is how much to save for your child’s MBA in the USA!   What is the cost of applying to study in the USA?  Before you start putting together the list of things your child will need for the overseas trip, here are a few things for you to consider. Prior to applying for admissions to any of the universities in the USA, these are the expenses you must allow for:   CategoryAverage Amount (in INR) USA Visa Application0.12 lakhsSEVIS Fee0.27 lakhsTOEFL Exam Fee0.13 lakhsIELTS Exam Fee0.15 lakhsGMAT0.19 lakhsGRE0.16 lakhsAirfare0.45 lakhs to 0.85 lakhs  Add to this the cost of coaching and counseling required to crack the above-mentioned exams with good scores to enable you to get into the university of your choice. Planning for your MBA studies overseas must start at least a year and a half in advance. Check the intake period of the various institutes and ensure the applications and paperwork submission is aligned to the same.  MBA fees in the USA  Once you have initiated the necessary exams and eligibility procedures, the search for the university that fits into your budget begins. MBA courses in the USA range from one year full-time to 2-3 years part-time or online programs. The average fee for an MBA course from a reputed university typically costs around USD 60,000 and can go up to USD 100,000 for the Ivy Leagues.   This translates into Rs. 45 lakhs to Rs. 75 lakhs in terms of tuition fees. Further depending on the university, the location, and the individual lifestyle of the student, the annual expenses can range from Rs. 13 lakhs to Rs. 40 lakhs.   As you can see, if you are looking to send your child to the USA to pursue MBA, you will need to cough up approximately Rs. 1 crore for the entire duration of the stay. This can be backed up by part-time jobs, campus jobs and of course, scholarships offered by the universities, by the US government for international students, and also independent scholarships offered to Indian students.   source: pixabay How to create a financial plan for MBA in the USA for your child?  In light of the corpus required to do the MBA in the USA, planning your funds well in advance will help your child pursue this dream with ease. Here are a few tips that can help you get started early as you make the plans for your child’s MBA studies in the US:  1. Start a college fund as soon as you decide on this goal: ideally having a 10-15 year investment duration is great. If you don’t have this time, start immediately as the corpus you will need is substantial.   2. Depending on the time horizon of your investment, here is how you will need to invest:  Long-term (10 – 15 years duration): High risk and high return investment in equities  Mid-term (7 – 10 years duration): Balanced investment portfolio with 65% in high risk, rest in debt instruments   Short term (3 – 7 years duration): Low risk, secure, low returns investment in debt instruments. The key is to keep your capital safe and your investments high. You can develop a more refined approach to investing with the help of professionals who understand your financial situation as well as your financial goals.  3. Follow a disciplined approach to your savings and investments.   4. Take the benefit of compounding growth of investment when you start early and do not dip into the college fund. Protect this fund as the dates for admissions are fixed and falling short of the required amounts will mean you may have to compromise on the institute/course that the child is opting for.   5. Regularly monitor your investments and realign these to ensure the corpus is building up towards your target amount.   6. Keep a watch on the universities that you plan to apply to, and watch the changes in their international student policies and fees.   7. Start your research early for the scholarships available, tracking eligibility and ensuring your child achieves the academic scores needed to apply for these, should the need arise.   Sending your child to the US for higher studies is a serious and long-term project. Start early and stay on top of the funds. This will make the entire experience of overseas travel and study a truly enjoyable one for your child and your family! Consult an expert advisor to get the right plan for you TALK TO AN EXPERT

Deciding where to live after getting your acceptance letter is a tough decision. Students are often torn between the two most popular forms of living abroad- student dorms vs apartments. The idea of living on your own is both exciting and anxiety-inducing. Adulthood and its accompanying responsibilities can easily throw you into a tizzy. Having your own space comes at the cost of having to do your own chores, managing your own expenses, running errands and so much more. It can all be a little too much at times.  You’ve figured out what degree you want, you’ve figured out which college offers the best educational plan for you, and you have your parents convinced. Figuring out where to live and how to live is the next step. Should you go for university-provided student housing or should you rent your own apartment? There are certainly pros and cons to both and luckily we are here to help you figure things out! Image by Keira Burton from Pexels Student Dorms Vs Apartments: What to Expect from Dorm Life? Dorms are a kind of student housing common in many universities. Usually, dorms consist of either shared or private bedrooms and common living and dining areas. Your college will allocate you a dorm room and a roommate based on the preferences you indicate, and in some cases, you can even choose your own roommate.  Colleges have different kinds of dorms and student housing available. You should go through your college’s website thoroughly to ensure you have the proper information about the kinds of dorms they have available, the facilities available in these dorms, how they are allocated, and the costs involved. Dorms are a very good option for Indian students who study abroad. Studying abroad means that you leave behind most of your friend circle and support structure. Student dorms in colleges have orientation programs and resident advisors who can help you ease into social life at your university. Image by Marcus Loke at Unsplash Pros of Living in Student Dorms No Dealing with Realtors or Brokers: Renting an apartment can be a complicated venture. You are not likely to know the area, the property costs, or the other intricacies of the real estate market when you're in a new city. Opting for college-provided student dorms may be a more reliable and secure option for you. No Extra Utility Bills: Utility charges like electricity, water, and heating are often covered by colleges. Even if they charge you extra for these amenities, these bills would still be relatively cheap. Proximity to Campus: Dorms enable you to stay on campus or very close to campus. This saves you both time and commuting costs. More Social Life: Staying close to campus enables you to enjoy campus life and student activities better. Additionally, dorms often have planned student events and activities that can help you make friends more easily. Extra Amenities: Student dorms often have extra amenities like recreational centers, gyms, game rooms, and TV rooms. These amenities may be entirely free or available to residents at a small charge.  Image by Keira Burton on Pexels Cons of Living in Student Dorms Lack of Privacy: Student dorms are notorious for being too crowded with barely any privacy. You may be able to get a private room depending on your college, but common areas may still lack privacy.  Strict Rules: Dorms often have strict rules to ensure discipline. You may have restrictions on how many visitors you can have, noise levels, cooking, and maybe even a curfew. You may not be able to experience the independence for which you decided to study abroad. Lack of Space: Dorms are often crowded and lack space. You may be allocated a tiny shared room with barely any space to move in.  Student Dorms vs Apartments: What is apartment living like? Apartments are independent residential units that can be rented either by contacting the landlord directly or through a real estate broker. Apartments provide more privacy and independence than dorms and are generally more spacious. College websites and social media groups associated with your college may have information about localities with apartments for rent for students. You can go through these pages to find brokers, landlords, reviews, and other information. Image by Luis Quintero on Pexels Pros of renting an apartment More Privacy: Apartments give you more privacy. You don’t have to live cramped together with too many people and there is more privacy in common areas even if you live with roommates. Additionally, you have more control over choosing your roommates than in the case of dorms. More Space: Apartments are definitely more spacious than dorms. You also get private bathrooms and a full kitchen to cook your own food without restrictions. More Independence: Renting an apartment makes you more independent and self-sufficient since it comes with more responsibilities and chores. You will also have to be much more meticulous with budgeting and expense management. If becoming more independent was a motive for you to choose to study abroad, apartment life may be best for you. Cons of Renting an Apartment Dealing with Landlords and Brokers: To rent an apartment, you will have to deal with brokers and landlords. As a young international student with limited knowledge of the country, this may be a complicated task for you. It is easy for you to get scammed or abused by brokers or landlords when you study abroad. Utility Bills: Unlike in dorms, you will have to pay your utility bills separately when you rent an apartment. This leads to extra expenses. Less Security: Living off-campus means you don’t have access to campus security. Apartment living may be less secure than dorms, although this also depends on the location of your apartment. More Traveling: Off-campus living certainly entails a lot more traveling and commuting. You cannot simply roll out of bed and go to class as you would in a dorm since you have to take into account commuting time. Image by Zen Chung on Pexels What is the Right Choice for You? There is no right or wrong decision when it comes to choosing the perfect student accommodation. It is up to you to decide what kind of housing situation is the best fit for you. You will have to weigh the pros and cons as well as the actual financial expenses of renting an apartment versus a dorm room. Your financial obligations and constraints will differ depending on whether you are studying abroad with a scholarship, self-financing, or working part-time jobs. These will need to be factored in, along with rental costs in the city you are in to determine which option is more cost-effective.  Whatever choice you make, living away from your parents and being exposed to a foreign country is sure to make you a more independent and well-rounded person. This is what makes studying abroad worth it. 

If you’re up for an adventure that not only is going to be adventurous and fun but is also going to add immense value to your future, education abroad is right up your alley. And while there are plenty of options with countries and universities, we wanted to list down our top picks to make your job considerably easier. Here are our top picks for the best places to study overseas! 1. France  Known for its rich cultural heritage and the ever-glowing Eifel, France is also one of the top picks for Indian students wanting to study abroad. The attraction isn’t limited to the glorious scapes that the country has to offer but also universities like the European International University, INSEAD Paris, and HEC Paris.  Photo by Pixabay from Pexels 2. Spain  Everyone in India was wowed by the Spanish nostalgia that ZNMD and Zoya Akhtar brought us. While Spain is a great country to relax and explore on your vacation, it is also growing in popularity in terms of higher education for international students. Photo by Luis Quintero from Pexels The country is home to some world-renowned universities like the University of Barcelona which was established in the 15th century, the Barcelona Graduate School of Economics, IE Business School in Madrid, and more!  3. Australia  The world-down-under welcomes hundreds of thousands of students from all over the world to its major cities like Sydney, Melbourne, and Canberra. The culture is welcoming toward the student community with exciting experiences to offer.  Photo by Patrick McLachlan from Pexels The popular universities include the University of Melbourne which has a populous Indian student community, RMIT University that’s famous for its journalism and media offerings, Monash University which finds its place consistently among the top 100 universities in the world, and many more!  4. Germany  As one of the most attractive education destinations in the world, Germany brags about International students from all over the world. From the public transportation system to the healthcare facilities, everything is made pleasant and convenient for students.  Photo by Leon from Pexels The universities that attract the most students from abroad are public universities like the University of Cologne, Technical University of Berlin, and Ludwig Maximilians University Munich which date back to the 15th century! 5. Canada  Canadian cities find themselves ranked among the most desirable cities in the world for students for their hearty communities as well as scholastic offerings. A progressive culture, plenty to explore, and internationally ranked universities are the reasons why Canada is on the wishlist of most students.  Photo by Burst from Pexels The University of Toronto, The University of British Columbia, and the University of Alberta are counted among the best universities that Canada has to offer.  6. The United States  The home of the brave is also home to some of the best universities in the world. The USA is home to top-ranking colleges like Harvard, Stanford, Princeton, and the entire Ivy League. What the US offers is not restricted to just education but the enormous opportunities that come with it. You can see yourself working your way up to Wall Street or establishing your own business in the business hub of the world.  Photo by Michal Marek from Pexels Each one of the 50 states has a distinguished university to offer and a culture that would enhance your own understanding of the world. One thing is for certain, when there is a break between classes, you’ll always find plenty to explore.  7. The United Kingdom The United Kingdom is home to football, cricket, and brilliant universities that are centuries old and still extremely relevant. University towns adorn the map of England, Wales, and Ireland. The top names include Oxford University, London School of Economics, University of Manchester, University of Edinburgh, and more!  Photo by Pixabay from Pexels While the UK might seemingly be more expensive than the rest of the world, you always can count on affordable education loans because a UK education is an experience that’s well worth it and can set you up for a promising career.  Conclusion  That was our list of the best places to study overseas and you’ve hopefully found a favorite or two from our list. The next steps are important once you’ve narrowed down a country, you’d need counseling to consider your options and choose your best-fit university and more.  EduFund helps students fund their dream education with affordable education loans that do not burden them in the long term. You can fill in this simple form to get a free counseling session from some of the top experts in India to get started on your overseas education dream! FAQs What are some affordable options for countries to study abroad? Some of the cheapest countries to study abroad are Germany, Mexico, Poland, Argentina, South Africa, Malaysia, etc. Which is the best country to study abroad for Indian students? Each student has their preference when it comes to studying abroad. So, one answer or country can't be the choice of all students. However, if we go by data, the top preference for Indian students is usually the US, Canada, Australia, the UK, etc. What are some best countries to study abroad and settle? Some of the top options to study abroad and settle after that are New Zealand, Spain, Thailand, Canada, etc.

Stressed about going abroad to study at your dream college? Wondering how to better plan your education abroad? Then, take a deep breath and let all the negativity flow out. Next, formulate a plan to go about the whole process in the most systematic way possible. There are a few intrinsic steps involved in this journey. We have made a list right here which can help you set your goals right and achieve them one at a time.   Top 10 ways to plan your education abroad 1. A Basic plan  Every journey begins with a basic course of action. Sometimes journeys appear more difficult than they are and this is often the case with education abroad. Charting out what you want to do demystifies the complications, it offers you clarity on what you must do next and how much time you have to do it. When global education is involved, usually the course of action starts with deciding which part of the world you want to study. The following points can help you form a well-structured plan before you get started.  2. Looking up universities  Once you decide which places you are interested in, the next step is to make a list of universities and colleges. Make sure to put down the names of institutions that have crossed your mind. In fact, you can prepare separate priority lists - one for your dream colleges and another for institutions that can offer your desired course or potential research supervisor. This way, through newer shortlists you can reach the final list as you do more research on each college.  3. Time management  While noting down the names of the universities and colleges, make sure to also look up their application deadlines. Knowing the deadlines for submitting applications is what will give an ultimate edge to your course of action. Now you will have an idea about the approximate number of days you have in your hands to prep yourself. Usually, the date for submission of applications comes under the same month. Not knowing the deadlines is what creates all the stress and confusion. But once you are aware of them, you can be confident and focus on making optimum use of it in gathering resources, and money and developing your skills.   4. Savings  Going abroad is a costly affair. Knowing how much time you have on your hands also lets you calculate how much money you can save. The income-expenditure ratio also becomes important in deciding how much money you can put away as savings. Start saving as soon as you can. Even if you are not sure about going abroad for your higher education, it is still advisable to put away money in general for education. On deciding to pursue a global education, make note of the tuition fee, cost of living, and other miscellaneous expenses that might be incurred during your stay there. This gives you clarity on much you will need to save.  5. Investment  Be it education or any other significant event in your life, investing is always an improvement upon saving money. Savings do not generate more wealth, investments do. You can look up different mutual fund schemes to know which one will be the best for you. Fixed deposits have a certain rate of interest, but mutual fund schemes usually offer more than that. You are also advised to start investing in foreign exchange stocks like US stocks to make up for the depreciating value of the Indian currency and the subsequent rise in the cost of pursuing education abroad.   6. Building Credit  Another financial aspect that is quite understated is the importance of building credit. Building and maintaining a good credit score can go a long way in availing you of the best deals in loans with negotiable rates of interest. It is also crucial to start young and early, for example, with education loans or simply with credit cards. When the time comes to go abroad, your impressive credit score will make you qualified for the student loan that can support your global education.    7. Scholarships  An important thing you are required to look up while checking out different institutions is the scholarships that apply to you. In a lot of cases, deserving candidates can avail themselves of different scholarships that pay their tuition fee or at least a considerable part of it. In the case of research, you might enjoy deductions on the tuition fee from the institution itself, alongside receiving a stipend. Read up thoroughly about these international scholarships and the criteria or qualifications required to avail of them.  8. Building Contacts  The process of building contacts is something you should ideally get started with while you are in the stage of planning the basic course of action. Taking the advice of peers or seniors who have already been through this process can offer perspective and useful information to ease up the journey for you. Later, you might have to build contacts with the faculty member(s) of certain institutions that you are aiming to get into. This is usually the case for research scholars and falls under the application procedure.  9. Skill Development  Skill Development takes into account prepping for the final application submission as well as becoming sharper at the subject you are going to pursue. Deciding to pursue global education is sometimes synonymous with entering the tough competition. Make sure you are doing your best in presenting yourself to the world as a deserving candidate. Skill development also takes into account clearing the examinations that are often recommended or mandated by some institutions as proof of your worthiness. These include SAT, GMAT, GRE, TOEFL, IELTS, and so on.    10. Preparing for Applications & Interviews  Last comes the main procedure - that of submitting applications and attending interviews. As scary as it sounds, once you are done with all of the above, you will find yourself to be more at peace and confident to brave it all. Institutions might require you to submit essays or answer questions alongside the submission of the SOP and the main application. There might be interviews on a group or individual basis. Find out about these things beforehand so that you can be well-prepared when the time comes.    Conclusion The correct way to simplify a complicated procedure is to break it down into small parts and set short-term goals that make it look doable. The thought of pursuing global education can make you anxious at first but with the right plan, you can ace it.  EduFund is your partner through and through, whether it is guidance that you need or student loans, we're here for you. FAQs How can I make my application better for studying abroad? Start early. Be honest with your details, especially with your SOP. Show your involvement in extra-curricular activities, community service, and work experience. Add letters of recommendation from your teachers, counselors, employers, etc. How do I motivate myself to work on a better plan for education abroad? You can motivate yourself by constantly reminding yourself of the great educational and career opportunities that await you after you complete your studies. You'll have a whole new experience of living in a different country, miles away from home. You'll be able to learn great things about different cultures, share your culture with others, make new friends, learn a new language, and find great employment opportunities. What skills do I need to develop to study abroad? In order to not only get admission abroad but also successfully manage to thrive there, you must develop the following skills - Independence, adaptability, communication skills, cultural awareness, budgeting, time-management, networking, flexibility, etc.