One of the prevailing concerns for prospective students worldwide is funding. With many countries still seeing rising tuition fees, alongside cuts to government-funded financial aid, obtaining sufficient funding and managing debt are often the biggest obstacles facing students who wish to pursue further education.
To start with, the cost of graduate study can be overwhelming simply to work out. Depending on the location and your circumstances, you may need to account for some or all of the following: tuition fees, semester fees, student services fees, course material expenses, food, travel, accommodation, visa and health insurance costs, childcare and personal expenses. For some, there’s also the “opportunity cost” to calculate, meaning the cost of time spent taking a career break.
It’s advisable to start looking for graduate funding opportunities while or even before applying to universities, as the two processes often require very similar applications. In general, applications for funding need to be submitted by spring if you’re starting to study in the fall of the same year.
There are many types of funding available for graduate students: merit-based, need-based, need-blind, university-specific, course-specific, subject-specific, career-specific, demographic-specific, country-specific, ability-specific, and non-specific.