Studying overseas is one of the most valuable and rewarding things you can do for yourself whilst at uni. Research shows that if you study overseas, you will:
- Do better at uni after you get back from your experience
- Be more likely to graduate
- Enhance your soft skills (that employers want!)
- Most likely have shorter job search time
- And above all else, have an incredible transformative experience!
Missing out of these benefits can become costly to your future. Especially when trying to convince your employer that you're the right person for the job! Don't miss our on scoring your dream job because you didn't take the opportunity to set yourself apart by studying abroad!
Here are some tips on how you can fund your overseas study program:
Taking full advantage of the OS-HELP loan scheme
OS-HELP is a loan created by the Australian Government to help students do some of their study abroad. It is for students who are currently enrolled in a Commonwealth Supported institute. Once your uni has approved and processed your application, your uni will deposit the funds into your selected bank account. You can then use this amount to pay for your program fee, flights, spending money, etc..
The amount you can borrow changes each year. For reference, in July 2019, the amount you can borrow is:
- $6,791 (if you do not study in Asia); or
- $8,149 if you study in Asia; PLUS an extra $1,085 if you do Asian language study in preparation for study in Asia.
Make sure you read the requirements of eligibility for the OS-HELP. You can find these by googling 'OS-HELP' + (your Aus uni). This should lead you to your uni page where you will find more information about eligibility, how to apply and the processing times. Want more info? Visit the Study Assist website, or watch this video: What is the OS-HELP Loan and How Can It Help You As a Student?
Scholarships from your home university
If you haven't yet looked into scholarships available at your home university, now is the best time to do so! Some universities also give out Travel Grants, which range from $500-$2,000 towards a program! To find out if any travel grants are available to you, get in touch with your university's International Office.
Something else you can consider is getting in touch with your academic faculty. They might have a budget set aside for specific projects or student scholarships. We have heard success stories from students who have received a scholarship by writing to their Head of Faculty. Make sure to explain the opportunity and how it will benefit you to make a case. Being proactive and taking the initiative to write letters and a proposal can reward you with great results!
This one may have slipped your mind, but fundraising can be a fantastic way to fund your experience! We have seen lots of examples of how this can be effective. At the end of the day, you don't need many donations. Even 5x $50 make a huge difference! The key? Plan ahead, think win-win, and follow up.
Working to save up
If you have a casual job at the moment, you should ask your boss if you can pick up some extra shifts to help. It's also a fantastic idea to get an additional savings account just for your trip and put a certain amount in each pay. That way, you can make sure you're putting money aside each week/fortnight/month towards your experience!
If you're not currently employed, perhaps see if there is any casual work that you can pick up. Even if it's a babysitting job once each week, or a bar job on Saturdays- it could help you put some extra money towards your trip.
However you decide to gather funds to support your overseas study experience, we wish you all the best and we cannot wait to hear how YOUR EXPERIENCE impacted your life!
Hello! My name is Tash and I'm the Marketing and Communications Manager at AIM Overseas. I love a good coffee, a good crime book or podcast, dogs and a solid beach sunset. Chat to me about any of these things and we'll be fast friends!