Before you submit your application form, you should make a decision regarding the financial aspects of your education in the U.K. You will need to calculate the costs of the programs you’re applying for and compare it with the amount of funds you have at your disposal.

This is extremely important as you will be required to prove that you can fund your education for a year and living expenses for 9 months in order to get a student visa.

The first thing that you should do is calculate the total costs that you will have to incur during your 3 year course in the U.K. The total cost will include your tuition fee, personal and living expenses for the whole duration of your course. Most universities mention the average living costs and other expenses on their website.

Once you calculate the total costs, compare it with the amount of funds you have and try to consider the following questions:

Will my parents be able to afford this college/course?
If yes, then what will be the source of funding?

And if not, then are there any financial aids available?

The most ideal situation is that the funds at your disposal are enough for the 3 years of education in the U.K. Keep in mind that you need to be very sure about the source of funding as your education should not suffer due to financial limitations while in the U.K.

If after calculating the total costs, you realize that the costs are beyond your budget, try considering the various factors that will affect your total expenditure while in the U.K. It is possible that you might need to re – consider your university choices so as to stay within your budget.

Also keep in mind that you will not need to pay the whole tuition fees in one go. Under most circumstances, universities will ask you to pay the fees per semester/year. This allows you to develop a financial plan which will enable you to pay the fees as well as fund your living expenses in the U.K.

If the total costs still exceed your budget, then try making use of the various scholarships and financial aids that are available for Indian students studying in the U.K.

FINANCIAL AIDS AND SCHOLARSHIPS:

Financial Aids and Scholarships play a great role in making studying in the U.K more affordable for Indian students. Unfortunately, most of these financial aids are available for students pursuing graduate studies or doctoral programs.

However, there are some organizations and colleges that offer financial aids and scholarships for Indian students at the undergraduate level. These financial aids are generally in the following forms:

Merit Based Scholarships

The most common type of financial aid available for international students is in the form of Merit Based Scholarships. These scholarships are given to exceptionally gifted or talented students who either have a brilliant academic record or have exceptional talent in other fields like athletics, art, music etc.

Such scholarships might or might not fund your complete education, but can certainly contribute towards reducing the total cost of education for international students studying in the U.K.

The Kingston University, London, is one of the many institutions that offer such scholarships. It awards 3,500 pounds for the first year of education on the basis of merit to International students.

Merit based scholarships are very competitive and are only offered to only the very best of all the applicants. It is advisable to speak to your college authorities beforehand and find out about the availability of such scholarships and corresponding requirements to be eligible for them.

Need Based Aids

‘Need Based Aids’ are awarded to those students who are eligible for admission due to their excellent academic record, but do not have the economic resources to fund their education in the U.K. Unlike the U.S, there are a very few colleges in the U.K who offer need – based aids to International students.

Getting such aids is not an easy task as they awarded only to the best and most meritorious students. However, if your academic record is exceptional, then there are a lot of chances that universities in the U.K will be willing to fund a part or whole of your Bachelor’s degree education.

Loans

Apart from the above financial aids that are offered by colleges and universities, International students can apply for loans in various national and international banks. These loans are provided to students who meet certain criteria that can range from exceptional academic record to the availability of collateral.

Indian banks are more likely to provide you with such loans as compared to international banks. It is advisable to go to the bank and find out whether you’re eligible for such loans and if yes, then what would be the terms and conditions of the loan.

Part Time Work

Doing part time work in the U.K can be of great help when it comes to making studying in the U.K more affordable for Indian students. These on/off campus part time jobs will help you earn some extra money on the side that can be used to fund a part of your personal and living expenses.

However, do not assume that you will be able to fund your education through such work as the visa laws with regards to part time work are very stringent in the U.K. You will not be allowed to work for more than 20 hours a week while the course is in session. Also, the remuneration from such jobs will not be enough to be considered as a major source of funding for your education.

How to apply for such scholarships and aids?

Getting such scholarships and financial aids is not easy due to the massive competition. It is best to apply as early as possible. Many colleges might also require you to fill and submit separate forms in order to apply for scholarships.

Go through the websites of the colleges you wish to join and find out whether such scholarships and aids are available. If yes, then find out about the application procedure and apply as soon as possible.

You can also use the Education U.K website or the British Council website to look and search for scholarships available for Indian students.

If you’re applying through an agent or an overseas representative, you can request for a discount in the tuition fee. Speak to your agent and check whether any such possibility exists with regards to the universities and colleges you’re applying to.