When you plan to get yourself blessed with higher education, financial commitment becomes a key player in influencing your various decisions about the kind of education. Some of the general questions that you are found answering are:
- What type of program should you be enrolling in?
- What university should you be going for?
- What course duration and specifics should you take?
- Whether you should go for foreign or local education centers?
In all these questions there are a few things you will be considering and in all those things, the first major player will be your finance options and capacity. This is why when students plan on deciding to go or opt for a particular program, they are always advised to first assess their financial options and then go on to finalizing their choice of education. Besides the traditionally available financing options like self-funding or parents’ funding, as well as grants and student loans, there is one kind of financing option which hardly has to be repaid and that is the scholarship programs. When you take up a student loan you are constantly in the burden of repaying it and the more debt you take, the worst debt burden you will find yourself in.
Your first aim should be to get your scholarship application approved, this is the option that is never repaid and is like a gift from institutions based on your eligibility and previous academic achievements. Today, our blog will discuss about the four major types of scholarship applications or programs that you can apply for, as a means of your financing options for higher education program or degree.
Full program scholarship
Full program scholarship is the best kind of scholarship you can find, not only for your academic profile but also considering your financing options. In this kind of scholarship your institution is responsible for all of your educational expenses sometimes to the extent of even your accommodation and additional fees to support your studies. The complexity with this kind of scholarship application is the fact that there are very few seats and you need to have the most respectable and extra-ordinary academic achievements, as well to ensure that your application is considered for such a reputed and full-funded scholarship program.
Tuition fees scholarship
This is the second biggest scholarship program you can file your application in. It is next to the fully-funded one and is similar. However, your educational institution in this case, is only responsible for a part of your tuition fees funding and nothing extra. All the collateral cost, including accommodation, will have to be paid by students. Despite of this fact, the weight of such a scholarship program is a lot, as a large percentage of your education can be funded by this program.
Course scholarship applications allow students to find a relief in one or multiple courses, they wish to seek and by proving their credentials the institution can pay for their course enrollment.
Finally, last but not the least term scholarship is the fourth best possible option for students, where the institution will pay the full cost of one particular term for the student.
Katherine Williams is the author of this blog post. She works with academic leaders around the world on a consultancy basis, and likes to contribute to social networking websites like ChiefPapers.com