The Variety of Financial Aid Available to Students

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The Variety of Financial Aid Available to Students
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• Education is one of the most important aspects of
  any person's life. In most cases, a child without
  education ends up spending his or her life doing
  petty things and trying to survive through his
  whole lifespan. Furthermore, education is a major
  part of a person's personality.

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• This is why the majority of governments across
  the world have set up a variety of programs and
  associated instruments providing financial aid to
  a child looking for proper education.

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• This is especially important for a child who
  wants to study abroad. Studying abroad can be
  extremely expensive owing to the higher currency
  rates and standards of living in most first world
  countries. However, these expenses are mainly
  driven by the difference in currency rates.

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• Most children aiming for this kind of an
  opportunity look for abroad study loan,
  scholarships, grants and other forms of financial
  aid. As the subject is sensitive, student loans
  are considered to be easy to get up until the
  candidate sees the procedure. There are a variety
  of loans that a student can apply for.

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• Again, the available loans can vary in a number
  of ways i.e. some require collateral, some have
  extremely tough interest rates, some are lenient
  with rates, some do not give loans to students
  going to universities that don't have ranking etc.

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• In fact, most students also look for part time
  jobs while studying abroad in order to support
  themselves or collect enough to repay their
  loans. Doing part time jobs is something that
  depends directly on a number of variables. The
  ability to take on a part time job depends
  directly on the type of course the student is
  going for, the university that he or she is in
  and even the place and country that he or she
  will be located in.

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• For example, a course in medicine would make it
  very difficult for a student to take on a part
  time job. Also, many universities do not approve
  of their students doing part time jobs and expect
  the student to be wholly devoted to his or her
  studies. Similarly, there are certain countries
  that do not allow foreign students to take on odd
  jobs while on a study permit. However, many
  universities in countries like these offer jobs
  on campus to a student looking for one.

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• Another way to find financial aid is on merit.
  These are scholarships provided by government
  organizations to students with a lot of talent.
  Furthermore, even private organizations provide
  scholarships to students with potential. These
  become a part of the organization's Corporate
  Social Responsibility (CSR). However, it should
  be added that getting these kinds of scholarships
  can be extremely difficult as many of these
  require tests, write-ups and interviews for
  judging the student's potential.

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• Also, the difficulty is not restricted to the
  qualification criteria but also to the
  competition. There are only a few scholarships
  available if one considers the large number of
  students that are actually looking for and
  applying for them. Needless to say, there are
  many ways for a talented student to obtain
  financial aid and this is good for the country as
  a whole.

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