How do you finance your study abroad?

Through Expat.com, student partnerpublished on April 26, 2021

8 minutes

Conducting some of the study abroad is now seen as an advantage, if not a necessity, depending on the learning pathways. However, this approach often turns out to be very expensive and requires organization from the student. Given the cost of the adventure, many international mobility candidates don’t forego the money available to complete their experience abroad, but there are solutions for everyone.

Fund your study abroad with scholarships

There are many scholarships available to students wishing to fund their studies abroad. It’s up to each candidate to figure it out for themselves and to seek help early enough to make sure they don’t run out of time and miss an opportunity.

The Erasmus+ grant

Undoubtedly one of the best-known tools in the expat project, Erasmus+ guides many students every year. Actually every year Erasmus+ organizes a call for proposals open to students who want to take advantage of a International mobility† The application is submitted in the form of a file that is submitted by the students, who can then defend their request with reasons. This resource is intended for students who have a higher education abroad and that match the profiles that Erasmus+ is aiming for. This tool is the perfect opportunity for a student to present his academic and professional project and demonstrate his motivation to convince the program to bet on his profile rather than another. The Erasmus+ grant can be combined with a university classic scholarship and is paid monthly for stays of 3 to 12 months.

University Scholarships

It is not uncommon for the academic institutions of the country of origin and the offer of the host country scholarships, often based on merit based on grades in student records or the candidate’s social standing. Be careful though, when such programs exist, sites move quickly. It is important that each student organizes their desired departure well in advance to consider different options and not to end up in a vice in the event of an unexpected refusal.

Help from the CROUS

Additional help can be requested from the CROUS organization for students who already comrades as part of their studies.If you meet the CROUS criteria, you may be eligible for a financial help extra amount of up to 400 euros per month over a period of 4 to 9 months.

regional aid

Most French regions offer mobility grants for their students, they vary according to the regions and destinations chosen. Keep in mind that here again you are not guaranteed assistance from the region and that you are dependent on criteria of availability, time, figures or the defense of a project.

As an example we can be the region of Auvergne-Rhône-Alpes and Explo’ra Sup international mobility fairthe Ile de France scholarship for the international mobility of BTS students or even Corsica and its Professional project grant for medical students. International mobility is not reserved for university students or those who have started with so-called long studies, be proactive and gather information from your community.

Fund your study abroad with student loans

the student loan is a consumer credit intended for finance student life during their studies or their tuition fees in the case of fee-paying schools. In France, students spend an average of 1183 euros per month, which forces a large part of them to take out a loan so as not to have to juggle between education and work.

Every bank has its own rules, but the student grants are not difficult to obtain under conditions that meet the criteria of age, nationality and education. As many banks offer formulas for students, it is important to request several quotes and compare the different proposals before signing his contract. You are advised to carefully calculate your needs to make an informed commitment to avoid over-indebtedness.

If the student loan solution can be tempting, it’s important to be aware of the Refund Terms and to remain realistic about the possibilities of this loan in order not to end up in a delicate situation. It is necessary to be aware of the terms of the contract, the amount of interest, the dates. Finally, remember that a student loan remains a loan and some contracts provide for the payment of interest before the start of the repayment (i.e. during the school term) or even the existence of a guarantor.

Funding study abroad with student jobs

As the finished and the scholarships are not significant or insufficient options, some countries allow their foreign students work under conditions. This solution will therefore often be subject to administrative procedures and may be strictly governed by the immigration rules of the host countries. For example, in South Korea, she has to study for at least 6 months before she can get a student work as well as the permission of the educational institution, in Canada the international students In contrast, given their educational status, they cannot work full-time, in European countries the rules are more flexible for other European nationals.

The solution of student work can have many benefits, such as facilitating future immigration or better integration into the host country and faster language learning, but we must not lose sight of the primary objective of student mobility: education.

Financing your study abroad by being an au pair

It is quite possible to have a work of au pair and studies, but the process requires strict organization. It is necessary that candidates for the program clearly and from the outset express their desire to study during their au pair experience in order to obtain the consent of the host family. Not all training is compatible with an au pair scheme and the student must be aware of possible training arrangements before signing the employment contract in order to choose a course and institution compatible with their responsibilities to babysit during the week.

the au pair status does not prohibit schooling in principle and it is quite conceivable to combine experiences, provided you know how to meet your obligations and coordinate with the intended families to include your studies in the contract between both parties.

However, be aware of the budget, the work of an au pair is often poorly paid as the person is housed and fed in exchange for his work, therefore the fee may not be sufficient to carry out your projects according to the cost of the live in the host country.

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