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Every year, thousands of students dream of pursuing their higher education abroad. But for many, it just remains a dream as expense is a huge matter of concern. According to FoxBusiness, a report displays that the increments in costs have led to a 51% dropout rate.
Imagine the situation of students i.e. the stress of achieving their goals with the struggle of finding sufficient funds to study abroad? Is it possible for students to fulfill their dream of studying abroad with skyrocketing expenses?
If you ask us, then the answer is YES, IT IS POSSIBLE if you take the support of education loans to fund your study abroad.
Yes, we agree that few countries are very expensive and it is very difficult to sustain in such places. But what if we say that it is possible to study abroad on a reasonable budget?
Yes, it is indeed possible to study abroad on a budget. Read on to find out more about the cheapest country to study abroad for Indian students.
Cheap Countries to Study for Indian students
Here is a list of cheap countries to study for Indian students.
Now if you think why are we suggesting Norway, well it’s because of a lot of things.
The prime reason is that the majority of Norwegian universities are publicly funded and they do not charge tuition fees. This is applicable for all the students i.e. Norwegian students as well as international students.
Infact, the Norwegian Government aims to provide tuition fee-free quality education to all the students despite the student’s country of origin.
Tuition fees is the major component which contributes towards the education of a student abroad. Other expenses include accommodation, books, travel, stationary etc.
Well, half your expenses are cut here as there are no tuition fees applicable. Coming to living expenses, Norway is considered a little expensive.
Tuition fees - Low or non-existent
Living Expenses - NOK 126 357 per year (around 10 lakhs)
But students can find different means to fund their living in Norway. For eg: Students can take the support of fellowship programmes, scholarship schemes, or student loans, where they can receive funding for their degree. Students can avail a study permit where they are allowed to work part-time for up to 20 hours per week.
If you are looking for an education loan, apply here.
We all know why Germany is considered as the cheapest country to study abroad for Indian students. It is because students do not have to worry about paying high tuition fees.
Apart from that Germany is recognized as the higher education paradise. Students can find many worldwide ranked universities, a wide range of courses, globally approved degrees and top-notch staff and professors. So, who would not pursue education in a country which offers everyone with a reasonable budget?
Well before heading towards Germany to pursue your higher education, you should correctly estimate the costs and ensure that you can cover them. In order to avail German student visa, students are required to display proof of funds i.e. you have to show proof that you have sufficient amount to afford yourself in Germany.
Total estimated expenses to live in Germany - 861 EUR per month / 10,332 EUR per year (approx. 65- 75 K per month/ 8 - 9 Lakhs per year)
Students can either submit the proof of parental income or can deposit an allocated amount on a blocked account (Sperrkonto). Banks generally charge around 50 to 150 EUR (4k to 12k) to set up a blocked account.
If you are willing to open a blocked account, refer to this article to get a clear idea - How to open a Blocked Account?
Estimated Tuition fees - Low or no tuition fees / Around EUR 1,500 per semester
Living Expenses - Around EUR 819 per month
Most students take an education loan to fund their student expenses as an education loan covers all the expenses that a student might incur during their study abroad. It includes expenses like laptop, travel, living, tuition fees, food, books, etc. But if students are directly approaching banks to get an education loan, banks fail to inform students about the expenses being included in their loan. So here students have to become a hostage to fortune. To avoid this hassle, connect directly via WeMakeScholars as we connect you with the best education loan lenders available in the market. We get you a fair deal with lower interest rates and faster processing of loans. To get in touch, request a callback and our financial team will connect with you soon.
Well there is no hidden fact that Canada offers flexible terms for international students who are willing to study in Canada. Every year, thousands of international students fly to Canada for higher education. The Canadian Government offers benefits like scholarships and bursaries especially for the students who are willing to pursue their higher studies successfully.
As per the Canadian legislation, students are required to fulfil certain eligibility criteria in order to study in Canada. Students are required to deposit their one year’s living expenses into a GIC account.
The Canada GIC process is a compulsory requirement for those who wish to study in Canada under the SDS (Student Direct Stream). To know why it is compulsory, read the article - Is GIC Compulsory for Canada: An Overview of Canada GIC Process
Estimated living expenses - CAD $12,000 per year
Estimates tuition fees - CAD $10,000 to CAD $15,000 per year
Total estimated expenses - CAD $22,000 for your first year of study at an university
Estimated price of transportation - CAD $2,000 to CAD $5,000
You can also check out 18th Episode of Loanflix web series. This episode is a must watch for students willing to study in Canada. For further reference, you can refer to the video embedded below.
Students take an education loan to accommodate funds that are required to submit in the GIC account. If you happen to look for an education loan, connect with our team at WeMakeScholars. They will assist you throughout the education loan procedure. To get in touch, request a callback and our team will get back to you soon.
Students targeting to study in developed countries like the UK, US, Australia, and others can find the cost a little overwhelming. So, here are a few cheap countries to study for Indian students. Those mentioned above are a few where tuition fees are low and affordable or are even non-existent.
Students willing to study abroad mostly look out for education loans to fund their education. In order to fund and support yourself in the country by taking an education loan, connect with our team at WeMakeScholars as we offer the best education loan deals in the market. We connect you with the best lenders and our financial team will also assist you with the education loan procedure. So, connect with our team and you will get a call soon.
Note: WeMakeScholars is an organization funded and supported by the Government of India that focuses on International Education finance. We are associated with 10+ public/Pvt banks/ NBFCs in India and help you get the best abroad education loan matching your profile. As this initiative is under the Digital India campaign, it’s at free of cost. The organization has vast experience dealing with students going to various abroad education destinations like the US, Canada, UK, Australia, Germany, Sweden, Italy, New Zealand, France among others.