How To Study Abroad Without Breaking The Bank

How to Study Abroad Without Breaking the Bank

Introduction

Did you know 67% of students think that they wouldn’t be able to study abroad just because of finances? Though commonly pursued by the wealthy, it would be far from the truth to say that it’s only for the rich. You are a byproduct of proper planning, the right guidance, and innovative financial strategies away from making your study abroad dreams abroad. In this blog, we’ll discuss how to make studying abroad financially feasible for Indian students in 2025.

Plan Your Finances Early

Don’t wait for the final admissions list to come out. Start planning your finances as soon as you’re considering studying abroad. Here’s your budget checklist:

Tuition fees
Accommodation
Food
Transport
Visa
Insurance
Emergency/Reserve Fund

But make sure you account for the inflated values. Use online calculators or budget planners for a tailored budget based on your chosen destination, course, and lifestyle. Even better, hire study abroad consultants in Delhi like Mindways, and they’ll take care of everything.

Apply for Scholarships & Grants

If you are even on the brink of studying abroad, you must consider securing scholarships or grants, helping to significantly reduce or even eliminate tuition fees. Here are the types of scholarships you can bag:

Merit-based: Based on student’s high academic performance.
Need-based: For students who have a weak financial background.
University-specific: Some institutions might have exclusive scholarships based on their criteria.
Government-funded: Governmental organizations like Chevening in the UK, Vanier Canada Graduate Scholarships, etc., also offer scholarships to Indian students.
Private & NGO-based: Organizations like JN Tata Endowment, Inlaks Foundation, and Commonwealth Scholarships also offer financially assisting scholarships.

Do the scholarship documentation 6–8 months in advance—they fill fast. If you are considering hiring one of the foreign education consultants, they’ll make the scholarship process smoother for you.

Choose Countries That Offer Value

You shouldn’t choose a country for studying abroad just because it’s popular or everyone is choosing it. You might get access to world-class education at a lower cost in countries like:

United Kingdom (UK): Shorter course durations mean lower living expenses and faster career returns with multiple scholarship programs.
Canada: Higher costs, but allow students to work more hours and offer strong post-study PR pathways.
Dubai: Globally-affiliated curricula which help you get tax-free salaries for post-study employment with manageable living expenses outside central Dubai, in proximity to India.

Make the Most of Part-Time Work

Many countries allow international students to work during their studies:

UK: 20 hrs/week during term
Canada: Recently allowed 24+ hrs
Dubai: Up to 15 hours/week (with permit)

It helps cover living costs and build experience.

Save Smart While Living Abroad

Small savings add up quickly:

Share accommodation
Cook meals at home
Use student discount cards for travel, food, books
Opt for free campus events and public libraries
Buy used textbooks or digital versions

Look Beyond Tier-1 Cities

The media has glamourized Tier-1 cities for education abroad. But Tier-1 cities = high rent. Instead, prioritize regional or suburban universities that offer:

Lower rent and daily expenses
Equally reputed programs
Smaller class sizes and personalized academic support
Easier community integration

For instance, instead of choosing something like Imperial, select the University of Strathclyde in the UK and the University of Guelph in Canada. You don’t need a London or Toronto address to get a global education.

Conclusion

You might be trapped into believing that studying abroad is bound to empty your bank accounts, but it doesn’t have to be like that. With thoughtful financial planning, scholarship research, country selection, and lifestyle choices, studying abroad can be affordable for you without any debt overload. If this feels too much for you to handle, consult India’s leading study abroad consultants like Mindways for handholding in your journey.

FAQ’s

Do I need an Education loan to study abroad on a budget?

Not always. Many students fund their education through scholarships, savings, and part-time work.

Can I really study abroad on a tight budget?

Yes, with early financial planning, scholarships, and guidance from foreign education consultants, studying abroad can be made affordable and manageable.

How can study abroad consultants in Delhi help me save money?

Consultants like Mindways assist you with budgeting, shortlisting cost-effective universities, applying for scholarships, and optimising part-time work options.