Fun(d) Way For Education: How To Finance Your Study Abroad
So you already prepared yourself mentally and physically to study abroad, but let's not forget about finances as well! The idea of living abroad for education can be very exciting and nerve-wracking at the same time. Being in a foreign country, learning a new culture, language, food and other local habits are very compelling. But on the flipside, you would still have to pay for your bill during your study period. Don't panic! Because in this article, we're going to show some effective ways to fund your travel abroad!
Photo by Linda Hides
1. Earn and Saving
This one is mandatory for those who wish to have a successful study abroad. It is only natural to work your own way to enable yourself from the experience of life you wish to put yourself in. We recommend our students to work their ways to materialize their dream study in Bali. A good planning of your semester abroad can be first achieved slowly by working and saving during the months of your study abroad preparation. It is one the most foolproof ways to work, save for the trip to your home country. Start early! Sure, it is great if your parents can financially fund you for the trip. But if you work and earn for it yourself, putting your best effort, you will get the head start of what's coming during your study period. You will be more open and have the right mindset to thrive and maximize your travel abroad. This way, later on when you have achieved your saving goal and are ready to be in Indonesia, you will absolutely enjoy every moment and be highly mindful of your finances.
2. Finding Funding
Beside working and saving, finding a scholarship is an excellent way to get some extra money for your semester abroad. There are many companies and organizations that are supporting international students and students who want to study abroad. Our first tips actually work wonders when you want to apply for a scholarship. The company loves students who are doing any type of side work in-between their studies. It shows that the students are ambitious and open-minded. The money gained from scholarship is usually not much, but that's better than nothing, right? You could always use that extra regular income during your time living abroad. Beside scholarship, you can also ask for support from your local government. For example, those who are from Germany can apply for BAföG (Germany’s Federal Training Assistance Act) to study abroad. In Indonesia, the Ministry of Education and Culture has a scholarship program called Darmasiswa. is a scholarship program offered to all foreign students from countries which have diplomatic relations with Indonesia to study Indonesian language (Bahasa Indonesia), art and culture in 70 universities. Check out the opportunities and what kind of support your country could offer!
3. Financial Planning
We have listed a couple of handy tips to earn funding, but it really wouldn't hurt if you can save your money as well. Money management could go a long way during your study abroad. Spend less money on shopping for secondary things like clothes, gadgets or shoes. You should focus on the basic needs such as food materials. Limit your time eating in restaurants, especially high-end ones. Learn to cook simple dishes yourself at home, because eating out will always be more expensive. Also please, don't use up all your money for partying. Yes, we understand that everyone needs an occasional break to have fun, but partying; especially when alcohol is involved, will drain your bank account faster than you can anticipate. Spend wisely and focus on your main objective of living abroad; to study, learn about the culture, and live like the locals. We also recommend you to make simple calculations of how much money you would spend or save for the 6 months period of a semester. Be resourceful, be wise, and get the best out of your study!
Studying abroad is a fantastic chance to gain invaluable knowledge and international networking. But there are several things to remember to make your stay much more convenient, such as earning and saving money. There are tons of possibilities to do so if you would like to explore and put all your effort into it. Once you have managed to secure your financial needs and are ready to move abroad to Bali, worry not, as our dedicated team at Upskill will help you to settle down during your time on the island. So, are you ready to study abroad in Bali with Upskill? Should there be any question or inquiry, feel free to contact us immediately!
By Billy Bagus