How to manage Study and Work Abroad

Students wanting to study abroad prefer to have an option of working there, but are normally confused if this is possible. This is definitely possible if you are organised and are able to put in some effort for doing so. Obviously, this requires some sacrifices to be made which works out totally worthwhile in the long run. The total concept of working while studying abroad and making this a success totally depends on an individual. You will need to ensure that there are no compromises made on the academic front when you opt for a job, as this is the primary reason you have come here for. We help you out with this with a few tips which can help you manage both, studies and work efficiently.

1. Prioritization:

You need to sort out things once you are abroad for studying and have chosen to work here. You need to prioritise your activities on a routine basis so that there are no problems. The first step to be taken here is to make sure you return home straight from work so that you are able to given the required time for your studies. The sacrifice you will be making is limiting your time for leisure.

2. Time Management:

This management of time is essential for your success. You need to be aware that studying abroad is not easy as thought by many. It is equally demanding as the education in your home town. You should be able to allot at least 40 hours on a weekly basis for your studies. If you are working, you need to be aware that most of your time on weekends will be devoted to studies. When making the plans for time management you need to make sure the submission of all your assignments on time, in other words, no compromises to be made on the study front.

3. Planning made to stay on top of things:

Planning on a daily basis, you need to include the planning on a weekly and monthly basis too as this can help you to be relaxed throughout the month with everything being scheduled right. Once you are familiar with the study activities expected from you, you can be sure of half the success achieved. You should also keep in mind the work front as you need to be sure to be fresh every day when you report for work.

4. Taking a break when feeling flustered:

At times you might feel all of this studying and working is a bit too heavy. That is the time you need to think of a break as otherwise there is no way you will be able to perform well in studies or even at your work place. Give yourself some time for relaxation every day, even if it is only for half an hour, this can definitely rejuvenate you and you will be able to concentrate better. You can also think of taking a weekend break and go to another pace altogether or visit a friend which is a sure way to relax you.

Working and studying benefits

Besides being able to handle your expenses better in a foreign country, working while studying gives you the required experience and this can be beneficial in the long run. You get more confident and can manage your time better, besides which you learn the communication skills and are able to mingle with different types of people. You have an advantage over rest of the students who only Study loan for Abroad and probably, waste the rest of their time. While thinking of a job while studying all you need to do is make sure you have settled well in your university or college and are comfortable with the schedule before you look out for a job.

Source: http://www.thechopras.com/blog/how-to-manage-study-and-work-abroad.html

Education around the world

The life of a study loan

Study loan Overseas

How to Pay for Study Abroad

Is finding a way to pay for study abroad holding you back from experiencing your own international adventure? Never fear — you have more options than you realize!

For many students, financing a study abroad experience can feel overwhelming. But there are so many available options to help you fund your journey, and the experience you’ll gain will be invaluable. Studying abroad is an investment in your future, and we believe every student should have the opportunity. The CEA Student Accounts Team is here to help! Check out your financial options below, and then contact us and we’ll walk through them together.

Study Abroad Scholarships

You might be surprised by the number and variety of scholarships available for study abroad students. It’s well worth your time to apply because, unlike student loans, scholarships don’t have to be paid back! The range of scholarship categories is broad so there’s a good chance you’ll qualify for one or more opportunities:

CEA scholarships are awarded in Merit-based, Need-based and Diversity categories and range from $400 to $3,000.

You may also be eligible for scholarships through your parents’ employers, or from other academic and international organizations!

529 College Savings Plan

If your parents or grandparents set up a 529 Savings Plan for you, you may be able to use it to cover educational expenses related to study abroad. Because 529 Plans are state-sponsored college savings accounts, the rules determining plan use and fund withdrawal capabilities vary; be sure to consult with your 529 plan provider to get the low-down on how your specific plan works.

Using Financial Aid for Studying Abroad

There are many sources of financial aid available for study abroad:

Federal Student Aid (FSA) – Your home institution’s financial aid office can tell you whether CEA and study abroad programs are approved for the various forms of federal aid.

State Aid – The Department of Education in your state is a good place to start checking for eligibility for their many forms of financial aid.

Home Institution Aid – Many colleges and universities offer financial assistance from their own funds. Reach out to your school’s financial aid office for details.

Private Loans – There are several private loan resources available to help you bridge the gap between the cost of your CEA program and the amount of funding obtained from other sources.

Payment Plans

CEA’s Payment Plans let you make smaller, flexible, interest-free payments in installments to meet your needs, schedule, and budget. You can use a CEA payment plan to fund the entire amount, or in combination with financial aid and/or student loans.

Cold, Hard Cash

If you really want to simplify things, take the old-fashioned route and pay cash! You may not have it at-the-ready but with a little creativity and advanced planning you can fund your own study abroad loan experience. Have a garage or eBay sale, ask relatives for weekend work or get a part-time job. Set a goal and make it happen!

Remember: You Are Not Alone!

The number of options can be overwhelming, but any time and money you invest toward your study abroad experience will pay off personally and professionally for the rest of your life. And, remember, you are not alone! We’re here to help you find ways to pay for study abroad.

Source: http://www.studyabroad.com/b/cea_study_abroad_blog/archive/2015/04/17/paying-for-study-abroad-do-you-know-these-options.aspx

Education loans to fund your study abroad dreams

  

With well informed parents and children settling for nothing short of best education, the number of students embarking on overseas studies is increasing day by day.  With the stellar growth experienced in the country in the last few years coupled with technological changes and growth of the internet, top notch universities/ institutions around the globe are closer than never before. It is a common sight to see scores of students, visiting seminars venues and overseas education expos accompanied by their parents, with palpable excitement of finding a course abroad that fits their Interests and aspirations, which they sadly miss in Indian universities and colleges.

 

However it is observed that, many students, who seem highly positive about embarking on abroad studies, drop their plan when the stage comes for raising money.  Though higher education   does not come cheap by any means, considering this as a long term investment with high returns and relatively easy availability of education loans there is no point why one should end his /her overseas education dream for the paucity of Funds when one can avail education loan up to 25 lakhs for financing their education abroad.

 

The main hindrance observed here is the lack of information or misinformation regarding the process involved in securing education loans.  Banks have a well defined criterion for sanctioning loans and knowing about them can reduce your effort by at least half. The first things is with regard to the eligibility criteria, which stipulates that

 

• The student seeking educational loan should be Indian national.
• The student should have secured admission to professional/ technical course through entrance test /selection program.
• The student should have secured admission to foreign university/institution.

 

 

Documents required for applying for an education loan includes

 

• Signed and completed Application form,
• PP size photographs, Photo-ID of the co-applicant if any,

• Residence proof of the applicant and co-applicant
• Academic documents of the student
• proof of admission to the course/scholarship/foreign exchange permit,
• Estimation of expenditure of entire period of study and financial documents which include 8 months bank statement of the applicant and co-applicant, Income proof, proof for collaterals – Immovable property (flat, House, Non-agricultural land, etc

It is always ideal for students to avail Overseas Education Loans from nationalized banks which are recognized by the Immigration Authorities in countries like UK, Canada, New Zealand etc. The loans are offered with a moderate interest rate allowing enough time to pay back (normally over a period of 5 to 7 years) after one year of studies or six months of getting employed, based on various factors and subject to providing securities equivalent to the amount available.

Source :  http://abroadstudyloan.weebly.com/abroad-study-loan/-education-loans-to-fund-your-study-abroad-dreams1

Student Loan Consolidation 101

Student loan consolidation and refinancing has been all over the news over the last year. As more and more graduates leave school with student loan debt, many borrowers are now looking for ways to better manage their student loan debt after graduation. You may have heard of student loan consolidation in the news, on the radio, or even on television. Sorting out the facts behind student loan consolidation isn’t easy. Before you refinance or consolidate your student loan debt you should familiarize yourself with the facts.

Federal Student Loan Consolidation

The majority of students use federal student loans to help pay for college. Taking out a new federal student loan each semester is often the norm. When you graduate, you may be left with 5, 6, 7, or even 8 different federal student loans to your name. Keeping track of all these federal student loans is not easy task.

Luckily, the Department of Education created a program called the Direct Consolidation Loan. Direct Consolidation Loans allow you to consolidate multiple federal educational loans into one loan. Your new consolidated loan will have on monthly payment, one interest rate, and you will be free from multiple monthly payments.

There is no application fee to consolidate federal student loans through the Direct Consolidation Loan program. Only federal student loans are eligible for consolidation through this program. Most federal student loans are eligible including:

• Direct Subsidized Loans
• Direct Unsubsidized Loans
• Subsidized Federal Stafford Loans
• Unsubsidized Federal Stafford Loans
• Direct PLUS Loans
• PLUS loans from the Federal Family Education Loan (FFEL) Program
• Supplemental Loans for Students (SLS)
• Federal Perkins Loans

Federal student loan consolidation will not lower your interest rate or your total loan cost. The new interest rate you pay will be a weighted average of your consolidated federal student loans.

Refinancing & Consolidation

If you are looking to refinance both federal and private student loans you need to look elsewhere from the Direct Consolidation Loan program. Student loan refinancing and consolidation is only available through private student loan lenders including iHelp.

When you refinance your student loans, you consolidate your student loan debt into one new loan at a new rate. Refinancing could be a great option for borrowers stuck paying high interest on their old federal or private student loans. Student loan refinance rates can be significantly lower than new private student loan rates. iHelp is one of the top student loan refinance lenders on the market.

iHelp’s Consolidation Loan rates start at 6.00% for qualified borrowers who have a cosigner. Without a cosigner, iHelp’s Consolidation Loan rates start at 7.00%. iHelp offers only fixed rates on their consolidation loans. Fixed rates are great for borrowers looking to lock into low rates while interest rates are at historical lows. With fixed rate student loans, the rate you pay and your monthly payment will be constant throughout the life of the loan. iHelp charges a 2% supplemental fee at the time of disbursement. You can compare iHelp and other private student loan consolidation lenders at LendEDU.

Refinancing through a private lender is the only way to lower your interest rate and the total cost of your loan. LendEDU reports that their average user saves over $10,000 when refinancing their student loans. iHelp is a great place to start

[Source: http://ihelploan.com/blog/2015/09/02/student-loan-consolidation-101/%5D

HOW TO GET STUDENT LOANS FOR STUDY ABROAD TRIPS

From the global education environment of today, more American students are choosing to complete part of their higher education at schools outside the United States. The US government actually encourages students to do this.

If you’re just beginning to think about schooling overseas, you may not know that there is more than one way to finance your overseas education. The plan you choose can affect your wallet and your degree. Two primary paths are often chosen, and they are enrolling full-time at a college overseas, or joining a study overseas program. Either one can be paid for with funds from student loans for study abroad.

How to Enroll in a Foreign Learning Institution

If you choose to obtain your degree from a foreign school, you are not alone. You may choose a foreign school because of its good reputation or a specific degree they offer that is not readily available in the US. Or, you may wish to immerse yourself in a new culture.

One common reason to choose studying abroad is that you can obtain the same degrees you can get here, but for a cost that is often much lower. Some schools abroad, like those in Canada, New Zealand, Australia and the United Kingdom, participate in the United States student loan program.

This means that if you enroll in foreign participating schools, you are eligible for Stafford, Graduate PLUS and Parent PLUS loans to finance your schooling abroad. You will probably not be eligible for state aid or federal grants. Many students supplement their scholarships with educational financing for study abroad trips, especially if they attend schools participating in the US loan program.

When you fill out your Free Application for Federal Student Aid (FAFSA), which you should do regardless of where you intend to attend school, you can see a list of schools that participate in the program.

Studying Abroad Trips

If you just want an international experience, you can study for one semester overseas, using college debt for study abroad. Then you can obtain your degree at a school in the United States. In situations like this, your financial aid will be processed by your US school, which potentially makes you eligible for federal loans, state aid and grants.

Your US school can coordinate your financing with your overseas host school. Your credits will apply to the degree you pursue at your US college. If you wish to participate, your US school must have a mutual agreement with the overseas school you wish to attend.

Most universities and colleges that have partners overseas have pages on their websites that list the schools with which they partner. Sometimes partnerships can be created, so speak to your financial aid officer at your US college about a potential partnership. Then your student loans for study abroad can be used at these schools.

What Can You do if You Want to Study Overseas?

Ask your local college financial aid office. They may know of programs that can help if you want to study abroad.

Search websites for schools with overseas scholarships.

Enroll in a school in the United States first, one that has a study-abroad program. Then the school can help handle the financial hassles when you study overseas.

There are a few downsides to this plan. The school you are interested in overseas might not have a partner school in the US. In addition, you may be disappointed to learn that you typically will not be approved for study abroad for over a year. You can supplement the scholarships or grants that help your overseas study with student loans for study abroad, to stretch the time allowed overseas.

Many students enjoy having American friends while overseas, but you may feel that American programs don’t allow you to become as immersed in the culture of the host country as you would like.

Transferring Financial Aid for Study Abroad

There are many schools overseas that have been approved to receive US federal education loans. If your overseas school cannot help with your use of your student loans, you can transfer to a college that is on the list of approved schools.

Persuading Schools to become Approved

If there are many Americans at the school you attend overseas, or the school would like to attract more students from the United States, they will benefit by becoming approved by the US. There are many reams of paperwork to be filled out, of course, but it’s easier than transferring your financial aid for learning abroad. Many other schools have gotten on the approved list in the United States. This may help future students more than you, since approval for overseas schools by the US government can be slow.

One Payment Method to Avoid

However tempting it might be to charge your overseas tuition and living cost to your credit card, don’t do it. They charge high interest rates and demand payments every 20-25 days. Even if you’re only a day late, you can be charged large penalties.

Most companies that issue credit cards will not loan students a large amount of money. While they may be helpful if you have some type of emergency, credit cards are not substitutes for student debt for study abroad.

Do Your Research

you need to understand that even if tuition is cheaper overseas, your living expenses may be higher. Consider the exchange rate and travel costs in your calculations, when you determine how much money you will need to attend school overseas. If you have a US loan, it will be paid in US dollars, so if there is a significant exchange rate, this can affect the amount of money you receive.

 

A final word about Overseas Education Loan .Federal regulations won’t allow you to do any of your degree through online options of distance learning. There are exemptions for master’s programs, but if you’re not using your student loans for study abroad to pursue a master’s, you will need to take your overseas classes on campus, in person.

Source :  https://lendedu.com/blog/how-to-get-student-loans-without-a-credit-Inquiry

6 Ways to Get Funding to Study Overseas, and One Way Not To

You might try transferring to a different overseas school or using an alternative loan service.

“I am growing quite desperate. I am looking for any type of aid that I can find…. I have an available cosigner with good credit, yet so far I have been unable to find any private loan. My school is not able to receive federal funds. After countless hours of searching and asking, I have found nothing. I am also not the only person in my situation. There seem to be many Americans abroad who face the same financial issues due to the current economic troubles. We are running out of options and have nobody to help us. Well, frankly…it sucks.”

While the financial situation is looking a little grim for U.S. citizens studying at overseas schools that are not approved by the Department of Education, it is not entirely hopeless. Students who are willing to transfer, or get creative, might find ways to finance an overseas education.

Generally, though, Alan’s right. If a school is not on this Education Department list, the federal government will approve neither students’ applications for low-cost Stafford loans nor parents’ applications for federally backed PLUS loans. (The U.S. also won’t send any grant money, such as Pell or SMART grants, to any overseas school, whether or not it is on the list.)

Like Alan, I, too, couldn’t find any U.S.-based banks that would make private educational loans to schools that haven’t been approved by the Education Department. Sallie Mae, one of the few big lenders still making private educational loans, said it would approve a private loan only if the school was approved by the Department of Education and the borrower was a U.S. citizen with good credit.

So what can students who want to study overseas do?

1. Ask . The first and best place to start searching for aid information is your college. The folks in the finance office may very well know of aid programs for people just like you.
2. Search .Students also can check out a few websites that compile overseas scholarships, like this one created by the Institute of International Education and this one created by the University of Minnesota
3. Go American . Instead of enrolling directly in the foreign school, students can enroll in an accredited American school with an approved study-abroad program. This is one of the simplest alternatives, because such American schools typically handle the aid hassles for students.

But there are some downsides. The overseas school you’re interested in might not have an American partner. American schools typically don’t approve study abroad for more than a year, disappointing those who may want to spend more time overseas. And this can be a costly option, since most American schools charge higher tuition than most foreign schools. (Though that may be offset by higher living costs overseas because of the dollar’s recent weakness against other currencies.) And while some students like having lots of American support and friends when they are abroad, others feel some of the American programs don’t sufficiently immerse them in the host country’s culture. Students can contact the overseas school they are interested in to see if any American schools have preapproved study-abroad programs there. Tools to search among study abroad programs can be found here, here, and here.

4. Transfer .As this official list shows, hundreds of overseas schools are approved to receive federal educational loans. Overseas students who need access to federal loans can transfer to one of the schools on the approved list.
5. Persuade your school . If there are lots of American students at your overseas school, or your school is interested in attracting more American students, it pays for the school to get approved by the States. There are lots of forms to fill out and lots of hoops to jump through, but hundreds of other international schools have done it. Information for overseas school administrators can be found here and here. The downside: This isn’t a quick solution. It can take a school a long time to earn U.S. approval.
6. Alternative loans . If a Study Loan Overseas has an adult with good credit willing to take on the debt responsibility, the adult can take a second mortgage or other loan and then have the student agree to pay back that loan through contracts such as those executed by Virgin Money. A growing number of students—many without cosigners—are trying out the new social network lending websites, such as fynanz.com or greennote.com.

And one thing not to do:

1. Avoid charging it . It might be tempting to just charge overseas tuition or living costs to a credit card. Tempting,but dangerous. Credit cards tend to charge high interest rates. They typically demand payments every 20 or 25 days. And they charge big penalties to those who are just one day late. In addition, most credit card companies won’t let students borrow very much. So while credit cards can be useful in an emergency, they shouldn’t be a college funding mechanism.

Source :http://www.usnews.com/education/blogs/college-cash-101/2008/10/17/6-ways-to-get-funding-to-study-overseas-and-one-way-not-to

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