As we know, study abroad needs a substantial amount of funds to meet the cost of education and also the others need like boarding /lodging day to day expenses and many other expenses arise spontaneously. the fundraising job can be completed either by your own resources like saving deposit, FD, by way of salaries, business, self-employment, agriculture or by selling some moveable or immovable properties, etc . the second option can be met out of borrowing from friends, relatives, family members, and services establishment where you family members are working. the third way to raise funds to study abroad is to approach lenders who are in the field of lending and borrowing to earn extra on account of interest. the fourth option can be a loan from the banks or commercial establishments . for taking a loan from public sector banks or private banks to fancy your study abroad you need to complete the formalities prior to the session to your loan. a big questionnaire form is raised by the banks to complete the process which says.
a) A name of the country you are going to study MBBS in Russia
b) Details of the course you are taking admission like MBBS in Russia etc
c) Is that course recognized by Indian government
d) Is the course conducted by a government agency like MBBS in Russia or a private institution duly recognized by a host country as well as Indian government.
e) Is the course /study program is fruitfull
f) Duration of the course and medium of study.
g) What is the tuition fee per year and the total cost of entire study period
h) Total cost of hosta living and food charges include=ing many other expensive days to day needs
i) Submit details of your application to study abroad
j) Submit a copy of invitation send my the host country/ institution
k) Copy of passport, visa, and air ticket is also to be attached. when all the formalities are committed by the applicant seeking load from the bank the next question start about the repaying capacity of the borrower followed by collateral security/ bank guaranty which includes details of property, income from service of nearest relative, business details showing income proof, agriculture or any other source of income which can guaranty the bank that in case of any default on the part of borrower applicant, repay can be done by the granter this process is so comparison that you get tired and finally if the loan sanctioned it may not be sufficient to find your study abroad and ultimately you are forced to follow other means to finance the cost of education which is called fundraising exercise.
Fundraising through alternative sources to study abroad
When the other means as mentioned above are not able to generate the required amount of funds then alternative sources start. there are many ways to follow and collect the amount to fund your study abroad . some of them are given below.
1) Create all line funding campaign – there are many online fundraising campaigns like post a short video of your need along with justification. people may come forward to help your cause and help you financially but be sure to utilize it with thanks to them who helped you. this campaign is also widely used by many people in different countries who suffer from poverty, earth quicks. natural calamities and also big medial treatment .people from different parts of the world donate the money to help these needy people.
2) Marketing of your air, craft, and knowledge- this is also one of the best way to market and sell your knowledge to earn substantial amount of money .like some people are expert in crafting by making different design, some are expert in painting and some people by virtue of there knowledge fascinate the people who donate good amount of money. some people who are interested in purchase your paining /craft and design can also be a good source of income. this shows your talent and people will have a positive impact upon your course.
3) Apply for a scholarship – this one of the best ideas to raise funds or to subsidize the cost of education abroad .there are many countries in the world that help the needy and meritorious students to fund there study program in the field of higher education. The solar ship can be of two types.
a) Based on merit in your qualifying exam .if your score is too high to e excepted by the host country and university you will e offered a scholarship and fellowship. this is generally applicable for masted and Ph.D. programs .the another way to get a scholarship is funding by the host country which depends upon certain criteria and generosity of the host country. certain scholarships are meant for poor and developing countries where students can receive financial supports to study abroad . in this case you must be sharp and brilliant comically to achieve the scholarship which is nonrefundable.
4) Correspondence with family and friends – some students who are not able to sustain the cost of their foreign study program themself they can seek the help of their friend and relatives who are in a better position financially . for this you have to contact these people by writing letters, sending emails or by telephonic communication and by explaining you need and the benefits made out of this study not only to himself but also to it friends relative in the future. This idea is very much applicable and in many cases, it is found that people help them generously.
5) Host a fundraising dinner – this is a very good idea to raise funds. People interested to raise fund to meet the cost of the there foreign education organized dinner programs and invite there known and many other influential people like in the field in social work, politics and in government/private jobs. when the participants come and greater in large numbers lecture program takes place where the objects of a dinner party are explained. people listen and contribute their advice along with some financial help as per there choice and enjoy the dinner programs.
6) Run for a cause – many times we find that such programs like marathon race car and mother cycle rases and many sports activities are organized particularly on Sundays and holidays. a large number of people are participating and attend these programs by paying for entry tickets .different activities are shown to the people where they enjoyed and also spend some money account of prize distribution. this fundraising program varies famous ist is tied in most parts of the world.
7) Apply for a grant – the grant is a payment made on time by a person, and organization id social activity sector, education and cultural trust and also by government bodies. this grant is given for a noble cause particular to finance higher education and other needs. the beneficiary of the grant does not need to return the money in the future because it is a one-time section for no refund.
8) Figure out study abroad grants- this is given by many countries in the world to help the needy people in different fields. This money was mainly given to the people belonging to the poor and developing countries.
9) Organizing blood donation camps – this is also one way to serve a social cause and earn some money out of charity.
10) sell your old school books – the old school books which are in a good condition can be sold out to make some money to fund the forging study program. Many textbooks and other books that are necessary for teaching can be made available by way of selling it to the needy people for a considerable amount.
11) Find a job in the host country – this is a very good idea to earn the money the way of working in a country chosen by you to study .most of the students in forging countries try and get some job inside the campus of the university and in some cases outside in the city you can spare some time out of your study program and utilized it to get a job and work for affixed income per month. this is a respectable way to earn money and finance your study abroad many counties lie in the UK.USA, Canada, Germany have openly permitted for part-time work that is you can work 20hr for a week or 120 days in a year while pursuing your study and earn handsome money which will help you to fund the cost of your education.