February - 2017 - issue > In My Opinion
Manage Funds While Studying at Foreign University
Stephen H Robinette, Associate VP, Missouri State University
In today's world, there is a growing demand for well-rounded professionals. Studying abroad is a life-changing experience for a student. The prospect of studying abroad is exciting. It helps students grow academically, personally and professionally. In conjunction with their studies, students also develop cross-cultural communication skills and increase their fluency in a second language by studying and living in another country. Advanced technological and communication skills enable graduating students to compete and excel in a multinational or multicultural business environment.
Decision of studying in a foreign country commands maturity from students in terms of taking independent decisions, living alone in an entirely new country and money management. Students who live with their parents in their home country can seek help from them, but they have to be penny-wise when they move base to an entirely new country, which implies dealing with a new currency and new cost arrangements.
A few suggestions are given below to manage funds while studying in a foreign land:
Government Help: Students need to research about funding opportunities provided by the ministry of education of the native country as eligibility criteria differ for International students. Government has specific rules for time limit, application procedures, eligibility criteria and the amount to be lent to students for International studies.
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