Magoosh GRE

How to beat the shortage of financial aid and funding

| January 21, 2012 | 1 Comment

Times are hard; even if you’re not a student. But if you are in Higher Education, things can be even tighter than it is for the rest of us. And while there are some funding schemes available to help lessen the burden of financial strain, research has shown that in 2011 only about 40 to 50% of students actually received some form of financial assistance. However, there are some steps that you can take to ensure that you maximise the likelihood of receiving some form of financial aid or funding for your studies.

  1. Start the application process early. Starting early will improve the chances of getting the maximum amount of financial assistance because waiting too late to submit an application could result in receiving less money, or being overlooked entirely.
  2. Look at universities in areas where there is a shortage of students. Sometimes, institutions in those areas look to recruit students by offering them a nice scholarship package.
  3. Consider cheaper universities; like the above, some universities offer cheaper fees or even offer financial assistance to attract students.
  4. Find other sources of financial aid sources to help you pay for your education by looking at charities, employment assistance programs, and funding programs.
  5. Focus more on improving your grades so that you can qualify for scholarships. Your grades among other factors can help you get the money you need to pay for college.
  6. Cut back on expenses by living like a student! Don’t blow your money on luxuries. Eat cheaply, look for the discount offers.

Additional options include living at home or taking a few online classes instead of commuting to lectures. Obviously if you are studying aware from home then this is not an option. Times are hard economically, but with a little preparation and effort you can maximise your chances of receiving some financial aid.

Category: International Student Guide

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