Ways for Students to Finance Masters Abroad in 2023

students finance masters abroad

So you decided to invest in higher education by pursuing a master’s from abroad? Now that you have made the decision, it’s important to take into consideration the ways to finance your master’s abroad. From accommodation to miscellaneous expenses, there’s a lot to manage during and after moving abroad for studying purposes.
This blog brings help to your assistance by sharing information on student finance masters abroad in 2023,  scholarships, and funding and preparing yourself for one of the best study abroad experiences. 

Fellowships 

Fellowships are funded opportunities that are mainly offered to selected candidates who planned to pursue their advanced studies. The fellowships are for research purposes, postgraduate degrees, as well as doctoral and postdoctoral studies.

Students can finance masters abroad with the option of looking out for and availing of fellowships. A range of international fellowships is made available for international students to help them support their postgraduate studies abroad. 

To get more insights of student finance masters abroad, let’s divide fellowships into Academic and Research fellowships, and Professional Development fellowships, and learn about the top 10 international fellowships for students in the tables below. 

Professional Development Fellowships 

Professional Development Fellowships Country 
Endeavour Executive FellowshipsAustralia 
Commonwealth Professional FellowshipsUnited Kingdom 
Eisenhower FellowshipsUnited States of America 
Hubert H. Humphrey Fellowship ProgramUnited States of America 

 Academic and Research Fellowships

Academic and Research FellowshipsCountry 
AAUW International Fellowships for WomenUnited States of America 
CIMO Doctoral FellowshipsFinland 
World Bank Robert S. McNamara Fellowship ProgramAny
Rotary International Peace FellowshipsUSA, Japan, UK, Australia, Thailand, Sweden
Schlumberger Foundation Faculty for the Future Fellowships for WomenAny 
UNESCO Fellowship ProgrammeJapan, Czech Republic, China, Russia, Korea, Poland

Scholarships for Particular International Students 

Some scholarships are provided for minority groups and specific international demographic of students. Check whether you fall under the umbrella of those particular scholarships, and work towards applying for the same to finance masters abroad. To share some information about the same, we have shared the study abroad scholarships that the Indian government offers for minority groups/students to pursue postgraduate/master’s, and/or doctoral programs abroad. 

Scholarship Study 
SERB Overseas Doctoral FellowshipDoctoral Research in Science, Technology, Medicine, and Engineering 
Padho PardeshMaster’s course; M.Phil; PhD programmes
Dr Ambedkar Central Scheme of Interest Subsidy on Educational Loans for Overseas Studies for Other Backward Classes (OBCs) and Economically Backward Classes (EBCs)Master’s course; M.Phil; PhD programmes
National Overseas Scholarship for Scheduled Tribe StudentsMaster’s, doctoral and postdoctoral in the areas: Pure Science, Humanities, Applied Science, Medicine Engineering, Economics/Finance, Social Science, Agriculture Management
National Overseas Scholarship for Scheduled Caste StudentsMaster’s and PhD programmes in the areas:Accounting & Finance Pure Sciences and Applied Sciences Agricultural Science and Medicine Humanities Commerce Engineering and Management Social Science & Fine Arts

Assistantships 

Receiving a tuition waiver and in some cases, a living stipend, in exchange for working for a set number of hours as a graduate salaried student, is known as an assistantship. It is a sort of grant where paid opportunities are provided for students to work part-time in teaching or research. The USA has some of the top universities offering assistantships to international students. 

Let’s check out the universities as they are listed below. 

Name of University QS World University Ranking 2023 
University of South Florida601-650
Cornell University20
Cleveland State University1201-1400
West Virginia University1001-1200
State University of New York416
Penn State University93
University of Arkansas1001-1200
University of New Orleans
University of Nevada
University of Houston751-800

Student Loans 

Student Loans are a financial medium for students to realise their study abroad dreams and ambitions and for adding to student finance masters abroad in 2023. There is a wide range of student loans provided by Indian banks and non-banking financial companies that support students by providing them with education loans for abroad studies. Different student loans by different banks have their own interest rates and maximum loan amount.

 Let’s check below the banks that provide student loans along with the best education loan schemes for studying abroad.  

Name of Bank Education Loan Scheme 
Bank of BarodaBaroda Scholar Scheme
Canara BankIBA Model Loan Product For Higher Studies Abroad
State Bank of IndiaSBI Global Ed-Vantage Scheme
Punjab National BankPNB Udaan Scheme

Work Study in the USA

If you are planning to go for advanced study in the form of masters in the USA, then work-study, which is a federal student aid program can surely be of use to you as an international student. Students with financial needs can utilise this option to help find part-time jobs off campus that can further help them finance masters. Under the same comes HTIR Work-Study Inc, which is an information and research corporation founded in the USA acting as a search and referral service for international students to “work while you study” masters programs since 1996. By going for the HTIR Work-Study option, students can study online in the first year and, and engage in paid employment while studying in the second year. 

FAQs

Q1. How to Finance masters abroad?

Ans. Student finance masters abroad through scholarships, education loans and more. 

Q2. Can I get a student loan for studying abroad?

Ans. Yes, you can get student loans for studying abroad through Indian banks such as HDFC, SBI, Axis, etc. 

Q3. Which bank is best for education loan for study abroad?

Ans. SBI is one of the best education loan for studying abroad. 

The aforementioned ways for students to finance their foreign masters can be how student finance masters abroad. Reach out to Fly Finance for more study abroad finance support. 

About Sanya Chhabra

A hermit who prefers to stand true to her values of kindness, inclusivity; and reflects the same in her writing. With a degree in literature and multimedia journalism, she's on a forever pursuit to improve. Additionally, she's open to inputs that are not unsolicited. Welcome to her professional writing space about finance, hope you enjoy your time.

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