How to Afford Studying Abroad - Eduvision Network

For many, studying abroad is a dream but let’s face it—finances are often the biggest hurdle. You might feel overwhelmed, unsure if you can afford the journey. But here’s the truth: with the right planning and strategies, you can turn your study abroad dreams into reality without breaking the bank.

This guide is here to help you take control of your finances, reduce stress, and make studying abroad possible. Let’s break it down!

1. Research Costs in Your Chosen Country

The cost of living and studying abroad varies dramatically between countries. Before you even start applying, research:

Tuition Fees: Some countries, like Germany and Norway, offer free or low-cost education, even for international students.
Accommodation: On-campus housing may be cheaper than renting an apartment in cities like London or New York.
Daily Expenses: Food, transportation, and utilities differ depending on where you live.

💡 Pro Tip: Websites like that can help you compare living costs in different cities.

2. Create a Realistic Budget

Once you know the costs, break them down into categories like:

Tuition fees.
Accommodation.
Food and groceries.
Transportation.
Health insurance.
Leisure and travel.
Emergency fund.

💡 Pro Tip: Using a budgeting app will be great for tracking your spending and ensuring you stay within limits.

3. Explore Student Loans, Scholarships and Grants

Scholarships, student loans, and grant are a lifesaver! Many governments, universities, and organizations offer funding for international students.

Merit-based Scholarships: For high-achieving students.
Need-based Scholarships: For those with financial challenges.
Country-specific Scholarships: Funded by governments to attract talent (e.g., Fulbright in the USA, DAAD in Germany).

💡 Pro Tip: Start your search early—scholarship deadlines can be months before your course begins.

4. Work While Studying

Many countries allow international students to work part-time during their studies. Jobs like tutoring, campus work, or freelance gigs can help cover living expenses.

Countries to Consider:
- Australia: Up to 48 hours bi-weekly.
- Canada: Up to 20 hours per week during term time.
- Germany: Flexible rules for part-time jobs.
Skills to Monetize: If you’re good at graphic design, writing, or coding, consider freelancing online!

💡 Pro Tip: Be sure to check the visa regulations for work hours in your destination country.

5. Consider Affordable Destinations

Not all study abroad destinations are expensive. Here are a few budget-friendly options:

Germany: Free tuition at most public universities, low cost of living in smaller towns.
Poland: Affordable tuition and living costs.
Malaysia: High-quality education at lower costs.

💡 Pro Tip: Look into lesser-known universities in popular countries—they often have lower tuition fees but equally good programs.

6. Save on Accommodation and Food

Housing and meals are often the largest expenses. Here’s how to cut costs:

Share an apartment with roommates to split rent.
Cook your meals instead of eating out.
Buy groceries at local markets and look for student discounts.

💡 Pro Tip: Many universities offer meal plans—calculate if it’s cheaper than cooking for yourself.

7. Plan Your Travel Wisely

Flights and travel costs can add up quickly. Here’s how to save:

Book your flights early for cheaper deals.
Use student discounts for flights and public transportation.
Travel during off-peak seasons for lower prices.

💡 Pro Tip: Use flight comparison tools to find the best deals.

8. Open a Local Bank Account

You can avoid high international transaction fees by opening a local bank account once you arrive. Look for banks that offer special accounts for students.

💡 Pro Tip: Use apps that provide easy currency exchange and fee-free international transfers.

9. Build an Emergency Fund

Since unexpected expenses, like medical emergencies or last-minute travel, can throw your budget off track, set aside a small amount each month to build an emergency fund before you leave.

💡 Pro Tip: Aim to save at least three months’ worth of living expenses for added security. With some of our student loan options, you can cover your living expenses.

10. Track Every Expense

Keeping track of your spending is the key to sticking to your budget.

Use apps or spreadsheets to categorize your expenses.
Review your spending monthly and adjust your budget as needed.

💡 Pro Tip: Small savings, like brewing your own coffee instead of buying it daily, can add up over time.

In Conclusion

Budgeting for studying abroad might feel overwhelming, but with careful planning and smart strategies, it’s completely achievable. Remember, it’s not just about cutting costs—it’s about making your money work for you.

If you are still feeling stuck or need more guidance, send a DM to Eduvision for help!

You can reach out for personalized advice on available funding options and processing to turn your dream into reality.