Planning to study abroad? You must ask yourself these three money questions

Study abroad guide for Indian students: Pursuing higher education from a renowned international university is a thrilling reality test that can completely transform one’s life in addition to a great career choice. It equally involves earning a foreign degree and exploring new cultures. However, to decide whether to go for it or not is often a difficult choice for both students and parents. There are several questions that students naturally come across, which should be thoroughly researched upon before applying for admission into a foreign university.

Rohit Sethi, Director, ESS Global-Study Abroad Consultant shares with Zee Business Online a list of three important money questions one should ask before making the  decision to study abroad:

Can I afford the course? 

Sethi says this is one of the primary questions that one should ask and figure out how. Which is why it’s very important to skim through various programs offered by noted foreign universities and carefully understand their fee structure. Moreover, there is no surety that the course one is opting for, falls in the budget. In such a case, look for the second best option.

Although Google can clarify almost every query related to courses and programs, one can still go to an education counsellor for better assistance. Once decided which course to opt for, seek top student loans that offer flexible EMIs and easy repayment options. Usually, shorter duration programs charge less fee and longer duration programs do the opposite.

Will I be eligible for jobs in my country of choice?

According to Sethi, many employers don’t give weightage to a lot of one-year degrees or diplomas. There could be situations when one may not get jobs despite being educated from noted foreign universities. It is, therefore, important to first find out whether foreign degrees will make one eligible for employment in the home country or any other country of choice, and accordingly look for universities that offer programs recognized by home employers to avoid unemployment.

How convenient it is to manage other finances?

While studying abroad, it is not just the education expense that one needs to deal with, but a whole lot of other expenses that one has to smartly manage; cell phone bill, food & groceries, transport, health, and insurance, among others. Plus, there are times when one’s expense may go beyond the pocket money provided by parents. To avoid such situations, one should try to take up part-time jobs that could enable them to easily manage extra expenses.  

Studying abroad can be the best decision in one’s life if planned well. Therefore, a student must look for the best options while keeping in mind their budget and other key requirements. Take time to do in-depth research about various universities and the courses they offer. Do not jump into taking abrupt and quick decisions. Rather, start early to get a lot of time for research and decide wisely.

Remember, it’s not just about studying abroad, but living and learning abroad.