SCHOLARSHIPS & FINANCES

Cost of education is an important concern for students who aim to study abroad. Apart from tuition fees, students also have to plan for their other expenses like living ,books & supplies, health insurance, transportation etc. Hence, it is imperative to understand the financial aspects of higher education abroad and scholarships opportunities available for international students.

FUNDING OPTIONS

Family Funds

These are funds held by any of the student’s immediate family member including parents which can be utilized for documentation and actual expenses, as long as they are willing to sponsor the student. Financial documentation in these cases should accompany a ‘Sponsorship letter’ or an ‘Affidavit of Support’ from the sponsors apart from the capability certificate.

Educational Loan

The number of students funding their education through bank loans is consistently increasing with a growth rate of about 15% each year. As per RBI’s regulations, banks in India are subsidizing student education loan for overseas studies under the priority lending sector (PSL) segment. Interest rates may vary with respect to the loan amount, course of study and the tenure with a moratorium period of one year from course completion or six months after getting a job , whichever is earlier.

Funds from School

Universities offer financial assistance to students who are academically outstanding. Usually, a student’s past academic records along with their performance in standardized tests (GRE/GMAT/SAT/ACT) is considered. The financial support may be from any of the following means;

Scholarships

Scholarships are awarded for academically outstanding students. They can be from the institution of study or endowment based. Students can also receive scholarships in the form of public, private or research grants.

Assistantships

Assistantships are offered at the department level as Graduate Assistantships, Teaching Assistantships or Research Assistantships. If offered, students will receive monthly stipends and are required to assist professors in their teaching or research work. Assistantships are offered only at the graduate level and may sometimes accompany a partial tuition waiver.

Tuition waivers

Tuitionwaivers are offered at the institutional level, partial or full, and exempts students from paying the respective tuition fee. The most common for international students is the ‘Out-of-state’ or ‘Non-resident’ tuition waiver, which reduces almost half of the entire tuition burden.

Course Waivers

A student’s past academic performance in certain subjects can earn them a coursewaiver and are offered at both undergraduate and graduate levels. Students earn course credits for the respective waivers.

IMPROVE YOUR CHANCES OF SCHOLARSHIP

Improve your chances of scholarship by following our guidelines.

Work on your finances
Improve your profile
Location Matters
Choose wisely
Apply Early

SUCCESS STORIES

ELS India is proud to congratulate all our stalwarts in achieving over $10,00,000 worth of scholarships. Investing on higher education abroad is an investment for your future. To make the right choice feel free to contact us.

Krishna Nambiar, Lamar University
Krishnan Nambiar
Lamar University
MS Electrical Engineering
Scholarship Amount - $7,462
Mayuri Harikumar, University of Houston
Mayuri Harikumar
University of Houston
MS Electrical Engineering
Scholarship Amount - $18,640