I Want to Study Abroad but I Have No Money – See How

The truth is, not everyone can afford the heavy financial responsibility that is associated with studying abroad. According to NBS, in 2020, 40% or 83 million Nigerians lives in poverty. But a lack of funds should not force you to give up on your study abroad dreams.

So is there a way to study abroad with little or no money? It is possible to study abroad if you’re poor and have little or no money by leveraging scholarship opportunities or grants, acquiring an education loan, or choosing universities in countries that do not have tuition fees.

As already established, studying abroad comes with a huge financial cost some of which cannot be escaped. However, there are smart ways to offset the cost or even attend university abroad at no direct cost to you.

I Want to Study Abroad but I Have No Money: How to go about it

1. Get a Scholarship

This is probably not new news. Getting a scholarship is a good way to study abroad with little or no money. Scholarship opportunities give you the privilege of getting a reduction in your tuition by a sizable percentage or completely free.

This allows you to focus on your studies without any financial pressure.

Scholarship opportunities come in different forms. It could be a fully-funded scholarship with no cost to you or a part-funded scholarship where you have to supplement some of the funds.

Merits of scholarship opportunities

• Scholarship opportunities can drastically reduce your financial burden. Particularly if its a fully funded opportunity.
• With scholarship opportunities, you have the opportunity to study in the best schools without paying the financial cost.
• You can fully focus on your studies and abroad experience without worrying about funds.
• Enhances your CV. There is a prestige attached with obtaining a scholarship that you can leverage. Qualifying for a scholarship boosts your resume, and gives you a 100% chance of getting a high-paying job.

2. Get a Grant

Rather than borrowing money for your tuition fee, grants are much better if you can obtain them.

Grants are financial aids that can be given for various purposes, including education. Therefore, you should apply for grants.

With grants, you will have enough money to fund your tuition, and cover your living expenses. Grant is different from a scholarship.

Grant gives you access to the money. It does not guarantee free or partial tuition, and it can be given by government or charity organizations.

Getting a grant for your schooling eases you of the financial obligation. Furthermore, since it is non-refundable, you don’t have to bother about paying it back.

3. Get an Education Loan

Scholarships and grants are available, but they are very competitive and rarely cover all of your expenses.

An educational loan can cover up to the total cost of attendance, as determined by your school, minus any other aid received.

It can cover costs such as tuition, Room and Board, Books, Travel, Health Insurance, and Living Expenses.

Educations loans are just like any other type of load that comes with interest. They can be given by federal or private institutions.

However, for international students, it is most likely they will be offered by private institutions. This type of loans typically have higher interest rates and some of them may also require a co-signer or guarantor since international students usually don’t have a credit history.

4. Choose a country with an affordable cost of living

ARGENTINA

If you’re looking for culinary delights, adventure, and art all wrapped in one, Argentina would be a great place to study abroad! There’s so much to do and see, from exploring the vibrant city of Buenos Aires to hiking the stunning Iguazú Falls.

CHINA

BRAZIL