Study Abroad is a costly affair. The cost includes tuition fees, application fee, transport cost, visa fee, fee to write standardized exam, accommodation cost and other costs. So financial planning is required to cover the cost.
The options available for students to finance their studies are:
Scholarship can be need-based or based on merit. Scholarships can be offered by universities, by the government, or by private trusts. Scholarships involve a lot of paperwork which deters many students from applying for them. The advantage of scholarships is that you can apply for any number of scholarships.
Grants are usually need-based and are granted by the university. The university financial department page of a university can throw more insight into the grants. Some of the universities ask for scholarship essays.
The advantage of scholarships and grants over loans is that they need not be repaid. The best way to get a scholarship is to apply for the scholarship that fits your profile. A lot of research is required to select the scholarship.
The Fulbright-Nehru Master’s Fellowships are designed for outstanding Indians to pursue a master’s degree program at select U.S. colleges and universities in the areas of Arts and Culture Management including Heritage Conservation and Museum Studies; Economics; Environmental Science/Studies; Higher Education Administration; International Affairs; International Legal Studies; Journalism and Mass Communication; Public Administration; Public Health; Urban and Regional Planning; and Women’s Studies/Gender Studies.
Erasmus Mundus scholarship offers financial aid to students from all over the world aspiring to pursue higher education. The European Union funds this scholarship to motivate European and non-European students .It covers their monthly allowances, travelling and other participation costs of the selected candidates.
DAAD scholarships are offered to students who wish to pursue their master’s education in Germany. It is the largest funding organization for international students. More than 100 DAAD scholarships are available for international students. The scholarships available to Indian students depend on the eligibility criteria.
The AGA Khan Scholarships: The Aga Khan foundation provides limited number of scholarships each year for post graduate studies to outstanding students from select developing countries who have no means of financing their education.
Fulbright-Kalam Climate Fellowship: This scholarship is awarded to PHD students for promoting research that address climate issues. Like other Fulbright fellowships, Fulbright-Kalam Climate Fellowship is also meant for Indian Ph.D. scholars to conduct a part of their research in the US for 6-9 months.
The Heinrich Boll Foundation Scholarship: This scholarship is awarded to pursue graduate, masters and research students in Germany. German language proficiency is required for the scholarship.
Inlak Scholarship: This scholarship is sponsored by Inlak Shivdasani Foundation to the students to pursue Masters and PHd in US, UK, Europe and North American country. The students have to qualify in the interview to be awarded this scholarship.
AAUW: The program provides support for women pursuing full-time graduate or postdoctoral study in the United States to women who are not U.S. citizens or permanent residents, and who intend to return to their home country to pursue a professional career. The scholarship covers the total or partial amount of tuition.
Orange Tulip Scholarship: This scholarship is for students who wish to pursue studies in Netherlands with a partial tuition waiver. The preference is given to academic record and work experience.
Goa Education Trust: Goa Education Trust in participation with British Council of India offers one-time payment scholarship of variable amounts to Indian students for post graduate studies in the UK. This is a merit-based scholarship which takes into account extra-curricular achievements too. The residents of Goa are given preference over other applicants.
Great Wall Scholarship: The Great Wall scholarship is awarded Chinese Ministry of Education with UNESCO to students of developing countries to pursue research in China.
Great Education Scholarship: The Great Indian Scholarship is for students who wish to study in UK. It is a merit based scholarship. This scholarship is offered by British Council.
Japan /World Bank Joint Scholarship: This scholarship is offered to students of developing counties to study masters in US, Japan, Europe, Africa and other countries. Work experience is needed to apply for this program..
Cornell University Tata Scholarship: This is offered to Indian students studying in Cornell for undergrad studies. The scholarship has to be renewed everywhere.
There are many more scholarship which are offered in addition to the above-mentioned ones. Universities have their grants, fee waiver based on their criteria.
Research well from original websites
Go through the application thoroughly and look for the eligibility criteria.
Apply well before the deadlines