Tag Archive 'scholarship'

Jan 04 2009

Financial Aid For Students Planning to Study Abroad By Devanshi Kothari

Published by admin under Education Abroad

For students going abroad for higher studies, it is imperative to provide proof of sufficient funds (at least for first year expenses). Mostly all universities require sufficient proof of financial aid for meeting expenses such as application cost, tuition fees, accommodation and living, health insurance, transportation etc. Therefore unless financial aid can be arranged, studying abroad may not be possible at all.

If you are an Indian student planning to go abroad for education, you can consider the various sources for financial aid apart from your/parents’ savings. A main options are as follows -

Bank Loans 

Various banks such as Bank of India, Andhra Bank, Canara Bank, State Bank of India, Axis Bank, HSBC Bank, Indian Bank etc. provide education loans for studying abroad.

Depending upon the loan amount, certain percentage of security (such as NSE shares, house mortgage etc.) is required and interest is charged accordingly. Recently, most banks usually do not ask for security or collateral for a loan up to Rs. 4 lacs. The interest rates would generally not exceed the Prime Lending Rates (PLR). Certain banks also accept a third party guarantee instead of security. (But this is usually for loans between 4 lacs and 7.5 lacs).

To avail of bank loans, the candidate needs to fulfill certain conditions such as he must be an Indian resident, confirmation of admission and requirement of minimum annual income. The repayment of loan generally starts after six months of course completion or one-month of job (if employed immediately after course completion) and the entire amount has to be repaid in 5 to 7 years (from the first payment).

Trust Loans
Trust Loans are either free or charge a lower interest rate (2 to 4 %). The loan amount is variable and is usually up to Rs. 1.5 lacs. However, they generally have a deadline by which you must submit the loan application forms. Few of the well known trusts are- J.N. Tata Endowment (soft loans between Rs. 50,000 and Rs.1.5 lacs), Sahu Jain Trust, Mariwala Trust, K.C. Mahindra Education Trust and R.D. Sethna Scholarship Fund.

Fellowships

Fellowships are comparatively difficult to acquire due to stiff competition. The popular ones are- Inlaks Scholarships, Aga Khan Foundation, Rotary Ambassadorial Scholarships and AT & T Leadership Awards (only for U.S.).

Apart from these, you can also acquire financial assistance abroad by way of University Funding - Scholarship/Fellowships/Assistantships, U.S. Banks Student Loans (for US) and other sources.

One must remember that most universities provide financial aid to overseas students on merit and not on need. It is easier to avail monetary assistance for graduate programs than undergraduate courses. The aid amount varies for different universities and fields of specialization. Also note that it is easier to receive financial assistance from U.S. and U.K. universities than those in Australia, New Zealand or Canada.

In case of undergraduates, Aid forms from the institute as well as the Foreign Student’s Financial Aid Form has to be submitted along with a bank statement. Forms may ask details about your personal and total (family) annual income, average living expenses, asset details etc.

Postgraduate students must mention about financial aid requirement in their application forms. Meritorious students receive financial assistance most commonly in the form of tuition waivers, scholarship or fellowship and assistantships (a cash stipend to take care of their expenses and in return they work for certain hours a week- either teaching or research based).

Please note that Indians usually are able to manage some funding after one or two semesters.

A U.S. Bank loan is among the best alternatives for MBA students. When applying for bank loans in US, a co-signer (US citizen or permanent resident) is required. However, several banks will waiver the co-signer requirement.The relevant information will be available on the university website.

Ensure that you go through the university information thoroughly and understand the terms and conditions properly.

This article is written as a part of the online initiative of ICICI Lombard GIC, India, to create awareness and provide information to all Indian students going abroad for higher studies. Also visit Indian Student Online blog -http://indianstudentonline.wordpress.com for more articles and tips.

For information on Student Medical Insurance visit http://www.icicilombard.com/app/ilom-en/PersonalProducts/Travel/Student.aspx

Submited by : http://www.SEMbook.co.in

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Dec 16 2008

Graduate School Scholarships - Reference By James Redder

Published by admin under Financial-Aid

Graduate school scholarships are becoming more and more valuable as the cost of living has increased along with the price of a college education. Cost is considered one of the most important criteria that is factored into the decision to attend most grad schools. A college graduate has two main options available to them to assist in this concern by utilizing scholarships and student loan programs. In fact recent studies would suggest that there is an abundance of scholarships available for mbas, phd and other graduate school degree seekers. This article will focus primarily on graduate school scholarship issues and concerns.

Financial Aid Programs

Every college or university has a specific place for getting financial aid. You should make it a point to visit this office and explore every single scholarship and grant option that is available to you and your specific circumstances. In addition to this you should also let your circle of teachers, friends and family know of your intentions and ask for their assistance in finding scholarships and grants. An additional resource would be using the internet to research college grants and scholarship information.

Government Assistance

The government has established a program named Free Application for Federal Student Aid (FAFSA) for managing grants and other financial aid vehicles. Understand that the financial assistance available here is need based and will take the students’ parents’ financial means into account. This allows them to then determine a fixed grant amount. The U.S. government helps in its own way. FAFSA, which stands for Free Application for Federal Student Aid is one such government aid. While granting funding to a student FAFSA takes into account students’ parents’ earnings. This is used to fix the grant amounts. While it does in some cases require more effort it is usually worth it since grants need not be repaid while student loans will have to be paid back.

Scholarship Association

There is an association named National Scholarship Providers Association (NSPA) that has been created with the main intent of increasing the reach and availability of existing scholarship funds to eligible students. One of the main benefits of the association to scholarship providers is the set of best practices and policy oriented information that they provide. The association was created in 1999 and recent estimates would state their membership at or around 177 members. In addition to that it also claims to have several small and large private charitable foundations, public facing charities and a number of colleges and universities as members. Recent estimates would indicate that the NSPA member’s are responsible for over $472,000,00 in scholarships and awards every year to over 275,00 students on an annual basis.

Summary

This article has briefly touched on several avenues that are opened for graduate school students to find funding for college. Make it a point to implement each of the ideas presented here. With the overall abundance of scholarships and grants available you should be able to find at least one to satisfy your graduate school scholarship concerns.

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Sep 18 2008

Box Hill Institute TAFE INTRODUCTION

Published by admin under Tutorials

Box Hill Institute INTRODUCTION
Box Hill Institute is one of Australia’s premier multi-purpose TAFE Institutes that prides itself on its ability to deliver a broad range of vocational education and training services.
 
The Institute has four main campuses located in the heart of the Box Hill business district, within easy reach of Melbourne’s Central Business District. Box Hill Institute boasts a proud record of innovation in teaching and has outstanding facilities. The Institute’s commitment to provide the best facilities is underpinned by its plans for the new $19.5m Elgar Development.
Box Hill Institute offers over 400 full-time and part-time courses covering a wide range of subject disciplines and delivery methods, as well as around 300 short courses. All courses provide students with a variety of pathways to employment, promotion and further tertiary study.
The Institute has more than 33,000 student enrolments each year with an increasing number coming from overseas.
Box Hill Institute is Australia’s leading Technical and Further Education (TAFE) provider of tailored national and international quality training services for government and industry.
The Institute also offers a range of travel scholarships for its students and staff to study and work overseas. A number of students have participated in the Box Hill Institute’s Global Scholarship Program offered through the Institute’s linkages overseas with Southern Alberta Institute of Technology and Colorado Mountain College.
These attributes, combined with Box Hill Institute’s business and community partnerships, are driving the Institute to maintain its status as a leading global educator.

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Sep 06 2008

How to Fill Out a Scholarship Application - 6 Rules to Always Follow By H R Miller

Published by admin under Financial-Aid

Filling out scholarship applications can be very frustrating and confusing. Every scholarship has different requirements and different deadlines. It is difficult enough to finish just one college application let alone fill out several scholarship applications.

But don’t worry! I have a few tips that will help you get through the process a lot smoother.

Read The Applications carefully

Every scholarship is different. Unfortunately no two applications have the same requirements. One application may ask for 1000 word essay while another one may ask for a 500 word essay. That’s why it is so important to read and get a full understanding of what is required before you submit your application. Otherwise it will be discarded and you would have wasted precious time.

Prepare, prepare, prepare.

Have you ever heard the statement “proper preparation prevents poor performance”? The 5 P’s. This could not be further from the truth. You see, if you are smart, and I know you are, you will be applying for several scholarships in the hope of possibly going to school absolutely free. You don’t want to wait until the last minute and throw together an essay or personal statement. Prepare in advance. Practice your personal statement. I would recommend you start doing scholarship research and start writing the rough draft of your personal statement 6 months before the deadline. Take time out a few times a week to work on it. This is very important stuff. These companies look at thousands of applications a day. You want to make sure yours stands out.

Work within the space you are given

By this I mean do not use continuation sheets on your scholarship applications. They give you specific requirements for a reason. If they say 1000 words keep it at 1000 words. This is why it is so important to prepare. List only what is important for that particular application. If you have extra space after you do that then you can add in some extra stuff.

Give them what they want

Always give the provider of the scholarship exactly what they are asking for. If they are looking for someone with leadership skills then give them an example of your leadership skills. If they want someone with excellent writing skills then show that to them in your application. Use your personality traits to your advantage.

Explain why you want to study a particular subject

Many mess up on this step. They fail to give a logical reason why they want to study a particular subject. There has to be a reason why you chose your major of choice. Relay this in your application.

Proofread

Before you mail off your application make sure you proofread it. Have someone else proofread it as well. Sometimes a fresh pair of eyes can catch something you might not. Make sure you are getting your message across very clear. If it passes the 2 proofreads mail it off and believe for the best.

Finding money for college can be a very daunting and tedious task. For more articles, tips and information on scholarships and grants for college visit How To Get Free Money For College

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Sep 06 2008

Applying For Institutional Scholarships By H R Miller

Published by admin under Financial-Aid

When students start thinking about scholarships they tend to think of only the most common ones and also those offered by large companies. This means that close to a million others will also be applying for that very same scholarship each year. Almost every college and university awards at least one scholarship every year. So instead of go after the scholarships that everyone knows about try looking for scholarships offered by your school. This will eliminate a lot of competition.

A very low percentage of students apply for institutional scholarships so this leaves the door wide open for you. Only a few of these will be full scholarships. But no matter how big or small the scholarship is just remember that every bit helps.

The application process for institutional scholarships is not different than the application process for outside scholarships. But remember that the qualifications and guidelines for every scholarship are different. Make sure you understand everything before you start filling things in.

There are many benefits associated with applying for institution offered scholarships. The first benefit is that you will not have to wait as long to get an answer. Not a lot of students apply for these scholarships so they can sort through them rather quickly and give you an answer within a few weeks instead of months.

Another advantage is that you will get the chance to a chance to understand how the scholarship and grant system works within your school. Even if you don’t get it you will still have learned some very important information which you can us when applying for the scholarship the next time around.

When it comes to institutional scholarships you really have nothing to lose. Though applying can be a tedious task it all turns out to be well worth it in the end.

For more articles, tips and information on scholarships and grants for college visit How To Get Free Money For College

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