How Can You Reduce Your Cost of your Master’s Abroad by 20 Lakhs?

The thought of pursuing higher education from abroad is pretty exciting and actually materializing that is even more impressive. You get to travel to another part of the world, meet new people, socialize with new cultures, and so much more while getting a top-notch education. However, studying abroad doesn’t come easy – there is a lot of planning and organizing that needs to be done for everything to go right. From taking English proficiency exams to booking flights, looking for accommodation in the new country to finding food services – it Is a pretty long list. Needless to say, you must spend a ton of money!

Thus, if you aspire to study abroad, it’s crucial to plan it well. We know of a way you can trim down your study abroad costs by at least 20 Lakhs INR, and we will get to it in a bit, but first, let’s talk about a study abroad roadmap for you – something that’ll help you start planning your overseas education trip.

Read More: Get affordable study abroad option from India

1. Answering the three essential questions – why, where, when?

These should undoubtedly be the first questions you ask yourself while planning to pursue your Master’s from abroad. Whether you are a working professional looking to resume studies or a fresher seeking good quality education – knowing the answer to the 3 Ws will give you a lot of clarity. Plus, you will get ample time to prepare documentation and brush up on your English proficiency skills.

2. Finding out about exams and applications

Once you have answered the three core questions, the next step is to find out about the various examinations and relevant applications that you need to fill out. For instance, the colleges in the USA will require you to appear for GRE and IELTS/TOEFL. Australian and European countries, on the other hand, don’t require a GRE score, and instead, weigh in your undergraduate performance for admissions. If you are targeting German universities, you might need to learn the German language or pass the English proficiency test.

Before you start applying to colleges, make sure that you have all the paperwork in control. Start preparing your SOPs, collecting your LORs, and all the essential transcripts and documents from your college. Further, if you are looking for loan options, start looking out for them early on too.

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3. Taking care of the various expenses

Higher education from abroad costs a lot more than studying in India. Various components go into determining the final expenses – besides the generally high tuition fee, you will need to take care of living costs that are usually relatively high. Other costs like books, food, travel and all need to be considered as well. While scholarships are available, there are a very limited number of students that get the scholarships. In such a scenario, many students go for education finance or loans. These loans tend to cover everything, including tuition fees, flight costs, living expenses, etc.

Now that we have identified how to start planning for your master’s study abroad, let’s look at how you can reduce your expenses or at least get them in control. These tried and tested tips will help you get financial aid or make some extra money by doing a part-time job.

Read More: Study in Germany without IELTS score

Aids for expenses of studying abroad 

If you have found the answers to the what, why, and where – the next obvious concern is the expenses. Here’s a list of ways you can help yourself with the costs of studying abroad:

1. Apply for scholarships

Most universities or colleges have a pretty straightforward scholarship process. There’s a fixed amount of scholars and a deadline to submit your applications, and any restrictions may apply as per the university. The types of scholarships offered include general scholarships for assistance, targeted scholarships for diversity, and help to financially needy students.

Apart from just university scholarships, there are also many government grants and funds that you can benefit from. So, ensure that you look beyond just your college scholarships and talk to different people and advisors about other ways of funding the studies.

2. Pick a short course 

Rather than going for a 4/6-semester course, you can target different short-term courses as well. If you are looking to find a good job and don’t care too much about the college experience, you can look for 1 year courses that are targeted in their curriculum. These courses are not only less expensive, but you will also spend less on living expenses. However, keep in mind that many of these courses do not have scholarships available.

Read More: Germany: Land of Study Abroad Dreams

3. Save money on the ground

This point is entirely subjective and up to you. When you are living away from home, the two significant (and biggest) expenses are food and living and then there is traveling. You can try to reduce your expense for each of these components. For living, you can check out cheap stay options, such as homestays and PGs. For food, the best and most affordable way is to learn to cook and prepare your food. Likewise, you can find feasible options to cut expenses on travel. All in all, you should strive to spend your money wisely – a lesson that’ll stay with you throughout your life.

4. Work or intern abroad

Internships and part-time work opportunities are available in abundance abroad. You can take guidance from the career department in your college or ask for referrals from some people to help you with your first steps. More often than not, the colleges themselves actively search for internships for their students to give them real-world experience. If you’re unable to find internships in a field relevant to your education, you can look for other part-time jobs that’ll help you sustain your study abroad experience.

We saved the best for last – the upGrad study abroad experience!

Join hands with upGrad & take the upGrad advantage!

The points mentioned above are good enough to help you save (or earn) some money. However, there’s not much scope for savings you can do with the above-mentioned approaches. How about we help you save flat 20 lakhs (if not more) while you pursue your master’s from abroad?

Read More: Earn credits in COVID as you start your abroad studies from Home

upGrad Study Abroad program brings you the ability to pursue a Master’s course in Data Science from abroad. The course is offered jointly by IIIT-Bangalore, and IU-Germany and the completion of this course will provide you with a dual alumnus status and double the network and connections. Further, you’ll get rid of the rigorous documentation you’d otherwise have to do and get relaxed English proficiency requirements (while getting specialized training and curriculum to work on your English skills) – upGrad takes care of it!

The 2-year Master’s course will be broken down for you as 1-year online and 1-year offline, giving you the chance to study abroad in Germany while saving money. You’ll get to choose six specializations of IIIT Bangalore and ten electives from IU Germany during this course, based on your past education and future expectations. All in all, you’ll save INR 20 lakh (which is the cost of living and studying in Germany for one year), if not more, on taking the UpGrad route.

Apart from saving your time and money, studying with upGrad Abroad also eases your academic transition by offering you complete support and personalized guidance. Small batches of students, 24×7 live lectures, lectures from industry experts, and a lot more – reach out to upGrad today, and accelerate your career to the next level.

Is this something you wish to try? Talk to us today!

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