Manya Group Financial Assistance/ Fellowships/ Scholarships : manyagroup.com

Organisation : Manya Group
Scholarship Name : Financial Assistance/ Fellowships/ Scholarships
Website : http://www.manyagroup.com/financial-assistance

Financial Assistance :

Wondering how are you going to finance your education abroad? Looking for financial assistance and student loans to study abroad? We’ll help you find a finance option that works best for you.

Related : Manya 2017 Undergrad Study Abroad Talent Hunt Scholarship Test : www.scholarships.net.in/15019.html

Who Needs Financial Assistance & Why? :
Financing your Education:
We all know that studying abroad is a very expensive process. The cost involves not only the university’s fees, but also living expenses. When you decide to apply for studies abroad, you must pay as much attention to how will you finance your education abroad as you do to your application.

Who needs Financial Assistance and why:
Everyone, even students who can afford the expenses, need financial assistance. When an international student is applying for a student visa, he/she is required to show evidence of possessing adequate funds to cover at least the first year of their college education.

With university scholarships, bank loans, and private funding from your own country as available options; you need to focus on careful and wise planning.

If you want university funding; that is only possible in the US. Countries like the UK, Canada, Australia, and New Zealand do not usually offer students scholarships; but with loans from your own country, you can study anywhere in the world.

Nowadays, with more international students applying to countries other than the US, there is a more flexible attitude towards providing financial assistance to foreign students.

Types of Financial Assistance:
Types of Financial Aid available to study abroad depend mainly on the country you are applying to. Most US universities offer assistantships, fellowships, and scholarships; depending on the course you are applying to. But for countries other than the US, funding from outside sources will mostly be required.

There are three broad categories that Financial Assistance can be divided into:
** Assistantships
** Fellowships / Scholarships
** Loans

Assistantships:
Eligibility:
Students are eligible for Assistantships depending on their merit

Courses Applicable:
Undergraduate (UG) level: It is relatively more difficult to be awarded assistantships at the UG level.

Graduate level: For MS courses, an assistantship is the best way of funding one’s education. Most universities do not offer financial assistance for an MBA, as the students will eventually earn more and be able to pay off loans.

However, some business schools may offer MBA scholarships based on merit. PhD level: All PhD students are offered paid a stipend amount which should cover their living expenses. There are no fees for a PhD.

Types of Assistantships:
Graduate Assistantships: These are specifically for graduate students. Students work with the admissions office or other department offices in administrative jobs.

Teaching Assistantships (TA): The student at the Master’s level helps the professor teach undergraduate students. The job involves taking tutorial classes, conducting laboratory experiments, grading exam papers, and helping the professor clear doubts from students. To secure a TA positions, you must have very good communication skills.

Research Assistantships (RA): The students assist with professors in laboratory work and research projects. Students selected for RA usually need to show research aptitude and analytical skills through projects, and publications.

Tuition Waivers: The student who obtains one does not have to pay the tuition fees at the University. However, general fees (for use of University facilities like the library, computers, and health services) will have to be paid.

There are also some project assistantships, sports, or club assistantships; which are University specific.

Fellowships / Scholarships :
Eligibility:
Universities provide financial assistance to students with exceptionally outstanding academic profiles. The awardees will have to score very well in their program to renew the fellowship/scholarship in the following year. The amount of scholarship offered differs according to the profile of the student.

Courses Applicable:
The university scholarship or fellowship option for financial aid is available more at the graduate level than at the undergraduate level.

Special Scholarships to Indian Students:
Some trusts or organizations offer financial assistance to Indian students who are planning to study abroad. The scholarships provided by these trusts are very course specific. Get in touch with the below mentioned institutes to confirm if you are eligible for the scholarship program offered by them.

Indian Organisations:
** KC Mahindra Scholarship
** Nehru Trust for Cambridge University and Trinity College
** Singapore International Airlines – Youth Scholarships
** J N Tata Endowment
** ITC Scholarships
** Inlaks Foundation
** Rhodes Scholarship
** Mariwala Trust
** Rotary Ambassadorial Scholarships

International Organisations:
** Fulbright Commission
** The United Nations
** AMIDEAST
** World Health Organization

Student Loans :
As scholarship options are extremely competitive, several banks offer loans to students to study abroad.

Generally if a student gets an admission offer from a top university, the loan may be sanctioned without the requirement of a co-signer based in the country where the University is established. In other situations, the financial institutions and banks require a home country based co-signer or a co-signer residing in the country where you intend to go.

Student loans are offered under certain terms and conditions and definitely under a set scheme of interest. Indian banks offer student loans for studying abroad on a confirmed admission to a foreign university for full-time courses (that is, loans are not offered for correspondence courses.).

Banks consider a student’s past academic record and offer the loan only if they find it satisfactory. All these conditions for financing education apply generally, but in the end, each bank follows its own scheme.

Manya-The Princeton Review offers Financial Counselling services that can help you identify the best bank loan to suit both your financial situation and your educational needs.