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Doodle Nandi

Doodle Nandi is a content editor for Hotcourses India- an IDP company, and helps write articles that help students with their study abroad journey.


28 Apr 2017 8K Book icon 3 mins Share

Indian students – Can you study abroad with less money?

Want to study abroad but don’t have sufficient money? Worried if you can really afford your dream of getting an international education?

28 Apr 2017 8K Book icon 3 mins Share
Doodle Nandi

Doodle Nandi is a content editor for Hotcourses India- an IDP company, and helps write articles that help students with their study abroad journey.


Share this article
How to study abroad with less money?

Some students might wonder how they can study abroad with less money in hand. It becomes worse when they can’t find a sponsor to support them financially. They neither want to burden their parents nor do they want to give up their dreams owing to their financial constraints.

Recently, we received a question on our students’ forum – 'Would 20 lakhs be enough to support my studies and other expenses abroad?'

The answer to it was –

There are many similar questions that we have received from students like you.

So will you be able to study abroad even if you don’t have sufficient money? The precise answer is – yes, you’ll definitely get to do that! But how? In three simple steps.

1. Research!

  • Many top institutions in the USA have something called ‘need blind admissions’, which means if you are a really meticulous student who has good academic records, your financial constraints won’t stop you from getting admissions. You’ll be granted admissions purely based on merit, not based on how much money you can afford to spend for your education.
  • If you don’t have enough money, apply for some good international scholarships* – an easy way to escape taking loans for your higher studies abroad.
  • If you don’t have enough money, you should apply to some cost-effective or economic countries such as Germany and Canada. And the best source of information to know about a few more cost-effective countries is our counsellors.

Want to figure out the cost of studying in Australia? Here is a cost calculator to help you with (this is an estimate).

Another crucial factor, besides money, which determines if you can study abroad with less money is, ‘time’. Time will decide where and what course you get to choose. If you apply early to some colleges and universities abroad, you might get scholarships. If you delay, you might miss them. If you apply early with all the required documents, then chances of receiving the acceptance letter is high, but if you delay, then you might lose a few opportunities.

Similarly, if you clear any of the standardised tests early on and earn a good score, you can get admissions at a university or college abroad at a right time. Simply put – you need to see where you stand so ask these questions to yourself:

  1. How good is your SOP/ LOR?
  2. Do you have good IELTS/TOEFL/PTE/SAT score?
  3. How well have you written your application letter?
  4. Have you done some out-of-classroom activities in your chosen field?
  5. Is your academic record above average?

2. When you've less money, look for scholarships!  

You can check with banks that provide several scholarships to international students at lower interest rates unlike other banks. But always give a second thought to borrowing money from anyone because you don’t want, or your parents, incur debts and keep re-paying all your life.

*There are hundreds of scholarship websites that could be useful. I’ve listed a few here:

  1. India Study Abroad Centre
  2. Alliance for Global Education Need Based Scholarships
  3. German Academic Exchange Service
  4. Eastern European Study Abroad
  5. Uniplaces Scholarships – a website that helps students support their accommodation expenses.
  6. Otago Polytechnic Scholarships
  7. Unitec Institute of Technology Scholarships

Now, these are the things that you need to figure out before-hand. All this put together will help you fetch a good university and college that will understand your economic problems and will not hesitate to grant you admit.

3. Save money!

To save money while studying abroad, you will have to plan before leaving your country.

What could be the possible ways to manage with less money abroad?

  1. Find a part-time job
  2. Work as an assistant researcher or teacher in your college or university.
  3. Look for cheaper accommodation options, such as homestays and shared apartments. Sharing your living space with someone can help both of you split the cost of groceries and other utilities. Also, cook for yourself and save money on eating out frequently.
  4. Cut down all additional expenses like transportation costs. Check with your university abroad if they can provide students’ pass for your daily commute.
  5. Try spending more time in your college or university libraries so that you can save the cost of purchasing books, if you feel those are not must buys.  
  6. Familiarise yourself with the budget of the country where you are heading to. Refrain from buying souvenirs, if you are really looking at ‘saving’.
  7. You can also save the cost of international calls by purchasing a calling card.
  8. Special offers: Many countries provide International Student ID Card that will help you save money on just about anything around the world. You can get discounts on anything you buy, and you can use it at places like salons, clothing stores, restaurants, etc. Try getting that! 

Related: 7 easy ways to earn money while studying abroad.

Start planning now! If you have everything what it takes to earn an international degree, then having less money should not pull you down. Start with small steps and you will definitely reach your goal. Our study abroad experts will guide you in selecting countries based on your budget. 

Confused about study abroad process?

Sonia Gumber Sonia Gumber,
IDP Expert
We can help you apply and study at top Universities abroad. Get in touch with us to get free advice!