Student Expenses – Opportunities for Funding - The European Financial Review
Home Career & Learning Student Expenses – Opportunities for Funding
Student Expenses – Opportunities for Funding
University studies are the best period to develop competencies and skills necessary for their future career. Academic studies prepare you for the things waiting for you in the future and how to deal with them. Studies are not only about showing your academic abilities but also the possibility to meet new people, share your opinion, learn how to discuss it with others, and accept other’s points of view.
However, not every student can cover the expenses that come with studying at university.
Most of the countries today still can’t offer free university education to students. While there are some scholarship opportunities for students who excel in their studies, they aren’t enough for interested students who want to study abroad or gain practical experience afterschool. The question arises, do universities do everything possible to attract the student’s eye and offer possibilities to make studying affordable to the majority of students. The answer is that not every student can afford the costs that come with studying at universities and need parent support or student credits to cover all expenses, such as tuition fees, books, student life expenses, dorm fees, etc.
Costs of attendance are all costs associated with studying at university. Most studies last around 3 or 4 years with a master degree of 1 to 2 years that follow up. The total costs for a full year are tuition costs for the winter and spring semester. Next are the costs for staying at dorms, having a half or full board there, costs for books and other materials, transportation, loan fees, etc. Future students can read more about cost of attendance prior to their registration at the university to make sure that they understand everything related to their studies. The cost of attendance helps universities decide what kind of grant or scholarship students need in order to afford university studies. According to law, every university needs to calculate all student expenses associated with a specific program.
Sometimes, undergraduate and graduate programs have different costs, both off-campus and on-campus. Some universities divide costs into direct and indirect expenses, or costs directly connected to the program, such as tuition fees, and indirect expenses, such as transportation and food. Many universities offer financial aid to students according to their grades and specific needs that student has and that doesn’t allow him to pay the full amount. Student loans are very popular and students who need some financial help can get a loan and pay off the loan in a given timeframe.
Part-time jobs are also popular among students and it gives them the possibility to compensate studies for a monthly income that covers some of the expenses. Many students also rely on parents help and receive money for studying and other expenses until they become financially independent. Usually, the federal law doesn’t allow receiving financial aid that exceeds the tuition fee and student expenses amount.
The amount a student can get as help is limited both annually and total costs. Bank can also be a source of financial help in some cases. They also offer student loans that students can pay off during their studies. Private loans require a co-signer who guarantees complete pay off in the given timeframe.
Many universities offer students financial aids. They cover part of the tuition fees at the university. During the application process the student is given an application form for getting a financial aid during their studies. Students get to know the exact amount that the university will cover from the tuition fees. It’s a good idea to talk about funding opportunities openly and explain your current financial situations to help you financing your studies. According to statistics, 9 out of 10 students get some kind of financial aid during their studies.
Today, there are many scholarship opportunities for students. The good news is that most of them are international and accept students coming from everywhere. To add to this, the international experience is something that will enrich your horizons and make you experience new culture. Most international scholarships cover full expenses connect to tuition fees, renting an apartment, transportation, etc. Not to mention that this international experience will help you meet new people and make contact with people from abroad.
Don’t limit yourself to the choices you’re given and go beyond them to find the most suitable funding opportunities for your studies. There are so many opportunities to fund your university studies nowadays that it makes it easier for students to be more self-independent.
Do Employers Care About Educational Background?
Accepting a Promotion
The True Benefits of Going for a Bachelor’s of Science Degree