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A peek into the funding options when planning to study abroad

Funding options when planning to study abroad
In today's scenario, everybody wants to have a foreign degree in their dossier but pursuing it was never so easy. Indian student's desire of foreign degree is becoming tougher due to the downfall of rupee in international market as well as poor job conditions. Besides your academics, GRE/GMAT and IELTS/TOEFL scores, you also have to take care of your fund availability.

Funding becomes major issue for pursuing any foreign degree. If you don't have ready fund flow, you will never be able to get enrolled as it is first and foremost requirement of all universities. Parents are always worried to represent their net worth for sponsoring their wards education and livelihood.

As they have to show their documents (i.e. bank guarantee letter) to visa officers in visa interviews. In such conditions, relatives abroad become ray of hope if they are willing to take the financial burdens partly. Visa officers have full right to check the documents which represent stability and net worth of such relatives as well.

So, before giving a thought for applying any foreign degree, consider some points in your mind which will help you in fetching the sources of funds otherwise your dreams can collapse. Here are few suggestions which may help you in getting ready for financial obligations:

Give a thought very early in career:

You should start planning about the course one year in advance because it will take time for all the procedures to get into the University of your Own Choice. One is required to clear IELTS/TOEFL and GRE/GMAT. Afterward, they have to go through essay writing, SOP (Statement of Purpose), filling application and applying for scholarship. All these steps are time consuming and also required to make you arrange the funds.

Read more about: education loans
Story first published: Friday, February 1, 2013, 10:54 [IST]
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