TIPS TO PREPARE FINANCIALLY TO STUDY MEDICINE ABROAD
There is no doubt that studying medicine abroad is the most preferred dream for thousands of Indian students and also a life-changing experience. It is not an easy task to be achieved with all the eligibility requirements for the countries that are providing medical education for foreign students. But those fulfillments will be in vain if the medical aspirants are not prepared financially to study MBBS abroad in advance to meet with all the course duration colleges’ fees including living expenses. Here to get you a thorough understanding check these tips to prepare financially to study medicine abroad.
Tips to prepare financially to study abroad
Many institutions provide scholarship facilities for foreign students to study abroad and but no foreign medical college provides scholarships to study medicine except a few European countries. Every student willing to study abroad should start researching thoroughly about all the available sources of financial support and scholarship facilities from abroad universities/foreign governments. Most of the budget-friendly medical education provided countries like China, Russia, Philippines, Bangladesh, Nepal, and so others are providing low fees only and not any scholarship facilities especially for foreign medical students. So the medical students should prepare on their own finances but can avail of any financial aid from local institutions that provide scholarships to students studying abroad.
The government of India instructed all the nationalized banks to provide educational loans for an amount of 7 lakhs without any surety for all the students study abroad. Visit your bank along with the offer letters from the universities and all other required documents to apply for the educational loan. Also, find any government or your communities are providing with any educational loan facilities along with the banks and other financial institutions.
Government of India provided Prime Minister Educational Yojana scheme for all the students studying abroad with a minimum of 10,00,000 scholarship amounts for EBC students and for SC, ST, and BC candidates an amount of 15,00,000 in two installments. But this facility is available only to the postgraduates and not for undergraduates in many states. But states like Andhra Pradesh, TamilNadu, Chattisgarh, and some included this scheme to the undergraduate medical education. Check the requirements carefully before applying for the scheme or get the help of any professional consultant to help you get the scholarship. Also, you can find out whether the state governments have any specific schemes for studying abroad student’s aid and can also avail the same.
Nowadays many national or international corporate companies are providing educational scholarships or loans for the students studying abroad, like Bill gates foundation, Tata foundation, Birla Foundation, and many more are providing loans plus scholarship facilities for all the eligible candidates that are studying in India / Abroad. Few trusts conduct entrances for the selection of best candidates to provide with scholarships every year and the same is limited to an extent to avail the same careful research of the eligibility criteria needed.
Study and Earn is not possible for any medical undergraduate as they are minors in any country that is providing foreign education doesn’t allow their undergraduate students to work. Which is a crime even the students crossed their minority until they finished theirs under graduation course. Every medical student that are migrating to study MBBS abroad should consider this point very carefully.
Prepare your Budget:
Right from the beginning of your plan to study abroad thorough planning of your budget is required to get a clear picture of financial needs for your entire course duration. The budget should include all your college fees, foreign fees (if any), visa processing fee, travel tickets, living expenses, transport expenses including medical and other miscellaneous expenses depending on the study is needed to forecast.
Plan in advance:
Plan in advance extensively for accurate and authentic information regarding the university, and country’s living conditions. Check with any university counselor about the required information or take the support of any authorized and experienced consultant in the field to get the proper needed info.
Living in a foreign country is not that easy and also not difficult if you plan to live not completely economically though but a little bit of awareness of your financial aids/funds. Calculating all the living expenses on a monthly basis and matching your available funds within in advance for at least one month of savings would be a good thing to plan for the next months with peace of mind.
For further information and more details get in touch with Wisdom Overseas who is the authorized Exclusive partner to South Western University in Philippines and has been dedicated to the overall well-being of the students that chose to study medicine in Philippines. Wisdom Overseas serves as a single destination for the medical aspirants to fulfill their doctor’s dreams. Wisdom Overseas endeavors quality education with a safe and secure environment for medical students for the total 5 years course duration. For more details visit Wisdom Overseas