- Financing your Education
- It is common knowledge that the cost of overseas education can be quite prohibitive. However, the good news is that there are several financing options available today that help meet these costs. Taking advantage of these requires careful research, planning and follow through.
A good starting point is to evaluate the exact amount that you would need to cover all expenses during your study period. Among the items to consider would be the Tuition fee of course. This would include the cost of program, books, stationary supplies, photocopying, laboratory and examination fees, if any. Then there would be the cost of boarding, including the monthly charges for housing, along with utilities, telephone, the Internet and laundry.
Then there are living expenses. If cost of meals is not included in your boarding ? it usually is, if you are living on campus ? then you would need to account for groceries as well. Local conveyance would be added if you are staying off-campus. In case you have been advised to buy a second hand car instead of using public transport for commuting, do take into account the auto insurance and parking fees.
It would be wise to find out if your university offers subsidized health insurance. If not, you would need to purchase an individual health insurance package. And finally, you would need to factor in the cost of flying between home and university.
This is a fairly detailed calculation as you can see. But it is worthwhile, because once you know precisely what you need, it is easier to evaluate the various options available.
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