College is an experience that makes us the person we are meant to become. That's why we often associate college with freedom, new experiences, and most importantly, success.
As soon as we start high school, our parents are already thinking about sending us to college, and many are even starting to save for our higher education. Since the funds required for college pay for many different aspects such as tuition, textbooks, room and board, etc. Must be spent, a college degree can become an expensive proposition.
Sometimes, for one reason or another, parents are unable to fund all or part of their child's education. I have already met several students who, for various reasons, have expressed a desire to finance their studies themselves. But whatever the reason, it is certainly a task that requires a lot of responsibility and maturity.
To help all those students who want to self-finance their college education, I have put together some ways that may come in handy.
1. Apply for a range of scholarships
This seems like a pretty obvious solution to problems related to financing education. But believe me, most students don't even know which scholarship programs they can apply for. Even if they have information about a specific scholarship, they make the mistake of applying for only one scholarship program.
Do not assume that you will not be selected and therefore should not apply. Applying for more than one scholarship automatically increases the likelihood that you will be selected for one, and increases your chances of financially securing your college education. This is especially true for overseas universities, which offer a variety of student stipends (ranging from 10-15% to sometimes as much as 100%).
So I suggest you cast your net as wide as possible when it comes to your scholarship applications.
2. Look for paid integrated programs
Following the example of foreign universities, some indian universities have also launched programs that pay students a monthly stipend. This stipend is usually used to cover living expenses. Some colleges also offer tuition fee waivers based on merit. Therefore, you should target such universities and colleges and apply to at least 2 universities.
For example, degree programs such as B.Stat hons. And B.Maths hons. At the indian statistical institute, kolkata, provide students with a stipend of INR 3.000/- per month. Indian institute of science, bangalore and indian institute of technology (multiple locations) offer scholarships of up to INR 12.000/- for students who are in their m.Tech.-are enrolled in courses. These are the programs you can look for.
3. Take a part-time job
Part-time jobs are a good way to finance your studies for many reasons. First, they will help you gain practical experience of working and earning in a real organization. Second, they help you mature and take on responsibility in your early years. Third, of course, they help you self-fund your education.
With a part-time job, you may not be able to pay the entire tuition fees, but it will help you meet your living expenses and personal expenses, which are a large part of the cost of studying.
Part time jobs don't always have to be in the office. You can also look for online freelance jobs where you work on a project basis. You do not want to look for a job directly? First, gain experience by applying for a paid internship where you work from home. The job duties are similar, but the type of responsibility is lighter, and as a student with little experience, they are much easier to find.
You should be careful when choosing a part-time job. You should choose a job that helps you raise your profile and allows you to learn and earn at the same time. For example, you can look at jobs like content writing, blogging, lab assistant/researcher's assistant, online tutoring, data entry/accounting, etc. Look at paying your bills.
4. Apply for an education loan for students
Education loans are one of the best tools to help students get a quality education. Loans cover the cost of tuition and any other fees the institution requires students to pay. Whether a student wants to study in india or abroad, the indian government, in collaboration with the reserve bank of india and indian banks, has taken numerous initiatives to lower student loan interest rates.
Most banks offer student loans at an interest rate of about 9-11%, which is lower than personal loan rates.
The department of higher education of the ministry of human resource development has also set up an e-portal called vidya lakshmi. Through this portal, students can access information about various bank loan programs and also apply for several programs. Before applying for a loan, you should carefully read the terms and agreements as well as the benefits.