Student funding and in particular paying for university accommodation, program fees and course materials, needs to be planned out thoroughly.
You’ll need to think about the costs – and how you’re going to cover them – at some point in your planning.
For those who enjoy making complicated spreadsheets, this is a dream come true. For everyone else: it’ll be worth it!
Student funding: Paying for university
The cost of a degree course can vary considerably between countries, and also between universities – particularly if there’s a choice of public- or private-sector. In addition, fees for international students are often higher than those for locals, so if you are planning to go abroad, make sure you’re checking the right prices!
Of course, it’s not as simple as just doing a straight comparison of tuition fees (this is where your spreadsheet comes in). You also need to consider the costs of accommodation, travel, course materials, food and other personal expenses.
Many universities have a break-down of estimated costs available for those trying to work out the costs of student funding. If you don’t see one on the website, you could contact them directly, or even ask to be put in touch with a student ambassador – for a student-level perspective on funding university.
If estimated costs are given per semester, remember that the university calendar might be different to what you expect – some countries have three semesters per year, others just two.
Also consider the length of the course. Studying in a country where three years, rather than four, is the norm for an undergraduate degree could effectively save you a whole year’s worth of fees – and some fast-track degrees could save you even more.
Sources for funding university
Once you’ve established a rough idea of likely costs (always allow a bit extra to be on the safe side), you need to work out how you’re going to meet them. Again, there are several different factors to consider here, including student loans, grants and scholarships, and the possibility of earning while you study.
For international students, it may be more difficult to access national student loan schemes. However, there are usually scholarships and grants available, either from individual universities or through government initiatives.
As an international student, you may also find there is a restriction on the number of hours you can work, especially during term-time. And whether you’re international or local, it’s worth doing a bit of research into the likelihood of finding part-time work, either on campus or outside, and getting some advice about whether this will be realistic alongside your study-load.
Finally, while it’s important to plan ahead and be sensible, try not to get too hung up on money issues. Most graduates – including those with student debts – will tell you the experience was well worth it.
And if you do find yourself struggling, don’t be afraid to ask for help. The university’s student support teams will be able to help you access any available bursaries, apply for scholarships, find a balance between work and study, and generally do all they can to stop the ‘F’ word ruining your degree!