10 Financial Tips for Disadvantaged International Students

Studying abroad does not come cheap for international students. Most African students often find it challenging to make payments for their education. Pay4Me has highlighted some financial tips for economically disadvantaged students.

Every year, the number of international students coming to countries like the United Kingdom, United States, Canada, or Australia triples. As a result, the standard of selection has become stricter for students. 

With the hefty price tags, crazy exchange rates, and migration policies, economically disadvantaged students must find to meet their financial requirements. However, with the correct information, you can find hidden ways to make your payments.

1.   Select Schools with Funding Opportunities

While many international students apply for highly ranked or well-known competitive schools, you can still make a shot at them. For instance, these schools offer generous need-based financial support for international students.

However, we recommend you widen your school search by considering non-name-brand universities. In addition, it would be best if you had a school with funding opportunities, especially those that want to admit a wide range of students. 

Schools that request more international students can suit you better than elite schools. In addition, private schools may cost you more, but they offer you more funding opportunities, which reduces your expense.

2.   Prepare an Outstanding Application 

Your admission application should highlight why the school should admit you. Therefore, you must display uniqueness in your application by showcasing strong personal essays, test scores, grades, and valuable skills, including other awards or achievements. 

On the other hand, don't pick schools because you want to study abroad. Instead, select the right school that can fit your educational needs. Furthermore, confirm that the school has a reputable strength in your field of study. Class size, including the environment, plays a vital role in your selection. 

For instance, the geographic location can influence your lifestyle, university cost,  and expense. Therefore, we recommend you search for schools outside the tourist hotspots.

3.   File Your Financial Aid & Application Forms Early

If you must beat the rush and have a better shot at funding, you must submit your application and financial aid forms early. You should consult the office of financial assistance and learn what’s required. You must pay attention to all deadlines. 

Since you need enough time to complete these forms, you should start gathering materials some months in advance. When you submit your forms early, the school can quickly notify you of any missing documents or request additional documents.

4.   Look for Private Funding

Internal university funding has always been the best source of money for international students. However, you can consider outside funding to help you study abroad. Some funding has limitations on your field of study, while others expect some requirements from you.

You can consider private funding from organizations or individuals online. Some organizations that can fund international students include the World Health Organization, United Nations, and other bodies. 

5.   Consider Applying For Community Colleges

If you have limited funds to study abroad, you can consider using community colleges for the first two years abroad. In the United States, you can transfer to a four-year university after two years at a community college.

Meanwhile, you should know the university you want to transfer to before starting your studies at any college. Then, with the support of academic advisors, you can find the most suitable university with funding opportunities. 

On the other hand, most universities offer you better funding opportunities, and you should consider this as well. 

6.   Before Committing, Calculate Full Costs 

The final numbers must tally before you make financial commitments. First, you should calculate the total cost of studying abroad and double-check what your funding can offer you. If you have partial funding, you should know where it ends and where you must spend it.

7.   Plan to Work on Campus

Since you cannot work full-time as an international student, you can consider part-time jobs on campus, where you can work at least 20 hours weekly. Some countries offer generous working conditions for international students. You should know what a country requires of you before you start working abroad. 

You can cover some expenses with your part-time work and earn more during your vacation.

8.   Learn How to Handle Surprising Fees

You will find yourself battling with unexpected fees or expenses abroad. For instance, do you know what your health insurance policies cover? In addition, you should learn what it would cost you when you visit a hospital for an ER, an urgent care visit, or a primary care visit.

Furthermore, the first and last month’s rent, deposit, or upfront price tag on living off campus can affect your budget. 

9.   Create a Budget

To keep your costs minimal, you must live within your means. We encourage international students to shop at thrift stores, buy or rent used textbooks, and cook rather than go out. You need to budget for your vacation since you may not go home.

10.                     Use Pay4Me

Finally, you need an app like Pay4Me for your international transactions. The app has become one of the fastest, most reliable ways to make educational and immigration-related payments like SEVIS fees, WES fees, school fees and deposits, application fees, pocket money, and more.

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