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Ever scrolled through Instagram and felt that pang of envy seeing those pics of your friends studying abroad? Enjoying Sunday roast at a London cafe, exploring the wild outdoors in Christchurch, or hitting the beaches in Sydney. Studying overseas can be an incredible adventure, but let's be honest, it doesn't come cheap.
International student tuition fees alone can be a major hurdle, then there's also accommodation, food, healthcare, travel – it all adds up! But don't stress, your dream isn't out of reach. With the right know-how and a bit of effort, you can unlock scholarships and financial aid to make studying abroad a reality.
You might be surprised by the sheer number of scholarships for studying abroad, and many of them are specifically designed for international students like you. Here's a breakdown of the different types of financial aid you can explore:
Many overseas governments offer full study abroad scholarships to attract talented international students. Some popular ones include:
Chevening Scholarships (UK): Funded by the UK Foreign, Commonwealth and Development Office, Chevening Scholarships are postgraduate scholarships in the UK awarded to outstanding individuals with leadership potential. They cover tuition fees, living expenses, and travel costs for master's degree programmes at any UK university.
Fulbright Scholarships (US): The Fulbright Program is an international educational exchange programme sponsored by the US government. It offers scholarships for graduate study, research, and teaching in the United States.
Australia Awards Scholarships: Australia Awards Scholarships are full scholarships for international students in Australia funded by the Australian government. They provide opportunities for students from developing countries to undertake undergraduate or postgraduate study in Australia and cover tuition fees, living expenses, and travel costs.
You can also consider scholarships offered by your local government listed below, which are typically bonded programmes that cover overseas study fees, living expenses, and other costs.
The Public Service Department (JPA) provides scholarships for students interested in pursuing careers in public service. The JPA sponsorship, which covers all study expenses, is offered as a Convertible Loan (Pinjaman Boleh Ubah) that students are required to repay upon graduation.
However, the loan repayment amount depends on the graduate's employer:
0% repayment (full scholarship) if employed in the civil service (Perkhidmatan Awam).
25% repayment if employed by a government-linked corporation (GLC).
50% repayment if employed by a private company in Malaysia.
This is a fantastic opportunity for recent SPM candidates to receive financial support from JPA (Jabatan Perkhidmatan Awam) to pursue studies at the top 10-ranked universities in the United States (US) or the United Kingdom (UK) in selected fields. Eligible institutions are recognized by the QS World University Rankings, Times Higher Education (THE) World University Rankings, and/or Academic Ranking of World Universities (ARWU).
Yayasan Daya Diri provides scholarships exclusively for Malaysian Bumiputera students planning to pursue undergraduate or Master’s degrees at universities in Australia, the UK, or the US. These scholarships cover full tuition fees and living expenses, as outlined by the respective institutions.
The PNB Global Scholarship Award is a prestigious program designed for students with exceptional academic achievements to pursue tertiary education at top universities abroad. Successful candidates will first attend a preparatory college in Malaysia, as designated by Permodalan Nasional Berhad (PNB), before progressing to an approved Bachelor’s Degree program overseas, subject to PNB's approval.
The Khazanah Global Scholarship is a highly esteemed award designed to provide exceptional and high-achieving Malaysians with the opportunity to pursue A-Level studies at Kolej Yayasan UEM, as preparation for undergraduate studies at approved international universities, or postgraduate studies at prestigious universities worldwide.
Most universities have their own scholarships for international students, often based on academic merit, specific fields of study, financial need, or even extracurricular activities.
Various organisations and foundations offer scholarships and grants to students pursuing education abroad. These can be based on your background, field of study, or even your volunteer experience. A quick Google search for "free [your field of study] scholarships" or "[your country] study abroad scholarships" can uncover some hidden gems. However, be on the lookout for scholarship scams so that you don’t fall for any fraudulent or fake offers.
If scholarships and grants don't cover everything, don't worry! You can consider exploring international student loans to help fund your studies. These loans are specifically designed to help bridge the funding gap for international students. However, it's crucial to research different loan providers, compare interest rates and repayment terms, and choose an option that suits your financial situation.
Now that you know the types of overseas study scholarships available, it's time to start your search. Here's how to find and apply for scholarships effectively:
Start early: The early bird catches the worm, or in this case, the scholarship! Start your search well in advance; ideally a year or more before your intended study abroad start date. This gives you ample time to research opportunities, gather the required documents, and craft compelling applications.
Use online search engines: The internet is a treasure trove of scholarship information. Use online search engines and IDP Malaysia’s dedicated scholarship database to find opportunities that match your profile and academic goals.
Contact your university: Don't underestimate the power of direct communication. Reach out to the international student office at your chosen university to inquire about scholarships, bursaries and other financial aid programmes they offer for international students.
Network: Tap into your network of family, friends, teachers, and mentors. Someone you know might have valuable information about scholarships or connections to organisations that offer financial aid.
Academic transcripts: Your academic transcripts are a crucial part of your application. They provide evidence of your academic achievements and potential. Make sure your transcripts are up-to-date and showcase your best grades.
Letters of Recommendation: Request letters of recommendation from teachers, mentors, or employers who can speak to your character, skills, and accomplishments. Choose recommenders who know you well and can provide specific examples to support their assessment.
Example: "In my Advanced Biology class, [Student Name] consistently demonstrated a deep understanding of complex concepts. Their insightful questions and contributions to class discussions enriched the learning experience for everyone.
Statement of purpose: The statement of purpose is your opportunity to tell your story and explain why you deserve the scholarship. Be authentic, and passionate, and articulate your goals, and aspirations, and how the scholarship will help you achieve them.
Example: "Ever since I witnessed the devastating impact of [environmental issue] in my community, I've been driven to understand the science behind it and find solutions. This passion led me to pursue [your field of study], where I can contribute to creating a more sustainable future."
English language proficiency test scores: If you're applying to study in a primarily English-speaking country, you'll likely need to submit proof of your English language proficiency. IELTS scores are widely accepted by universities and scholarship providers worldwide across 12,500 institutions. Aim for a competitive band score to strengthen your application.
Tailor your application: Each scholarship has its own unique criteria and objectives. Don't just use a generic essay for every application. Take the time to understand what the scholarship committee is looking for and tailor your application accordingly. Highlight your relevant skills, experiences, and aspirations to demonstrate why you're the ideal candidate.
Proofread carefully: Typos and grammatical errors can make a negative impression. Before submitting your application, proofread it carefully or have a friend or family member review it for you.
Follow instructions: It sounds obvious but pay close attention to the application instructions and ensure you meet all the requirements. Missing a deadline or forgetting to include a required document can instantly disqualify you from consideration no matter how impressive your overall application.
Even if you're fortunate enough to receive a scholarship or other forms of financial support, it's essential to be financially responsible and manage your money wisely. Here are some tips to help you budget effectively and make the most of your resources during your study abroad experience:
Research the typical cost of living in your chosen city through resources like Numbeo or Expatistan. Consider expenses such as accommodations, utilities, food, transportation, books, entertainment, and personal care. This will help you answer questions like “How much to study in the USA” or other destinations.
Always keep track of your income and expenses to ensure you're staying within your budget. Use a budgeting app, a spreadsheet, or a notebook to monitor your spending patterns. This will help you identify areas where you can cut back and save money.
Here is a simple template and some categories to get you started:
Total Income | |||
Source | Amount | ||
Scholarships | | ||
Part-time Work | | ||
Family Support | | ||
Savings | | ||
Outgoing Expenses | |||
Expense Category | Budgeted Amount | Actual Amount | Difference |
Accommodation (Rent) | | | |
Utilities (Gas, Electricity, Water) | | | |
Food (Groceries, Eating Out) | | | |
Phone & Internet | | | |
Insurance | | | |
Transportation (Public Transport, Fuel) | | | |
Personal Care (Toiletries, Haircuts etc) | | | |
Entertainment (Movies, Social Events) | | | |
Not sure how much to allocate for each expense? The 50/30/20 rule is a popular budgeting method that can work no matter where you are in the world.
50% on Needs: This includes essential expenses like rent, utilities, groceries, transportation, and health insurance.
30% on Wants: This covers discretionary spending like dining out, entertainment, shopping, and hobbies.
20% on Savings and Debt Repayment: This portion goes towards building an emergency fund, paying off student loans (if applicable), or saving for future goals.
Studying abroad is an incredible experience, but it can also be expensive. To make the most of your time while keeping your finances in check, try these money-saving tips:
Look for student discounts: Take advantage of student discounts for your study locations! Many businesses offer discounts on everything from movie tickets and museum entries to transportation and food.
Cook at home: Eating out frequently can be expensive. Learn some basic cooking skills and prepare your own meals at home. Not only will this save you money, but it can also be a fun way to explore new cuisines and connect with your housemates or fellow students.
Use public transportation: Public transportation is usually significantly cheaper than taxis or ride-sharing services. Familiarise yourself with the local bus and train network to save money on your daily commute. You can also save up to purchase a bicycle if your student city is cyclist-friendly.
Before you depart for your study abroad destination, research banks that offer services tailored to international students. Look for accounts with low fees, convenient online banking, and good customer support. You’ll typically need your passport, student visa, and proof of address (such as a dorm contract or rental agreement) when applying for a bank account in a foreign country.
For students in Malaysia, banks like Maybank, CIMB, and Hong Leong Bank provide robust international banking services to facilitate financial transactions and support the needs of those studying or planning to study abroad.
Here's a deeper dive into their offerings with facts and figures:
Maybank
International Fund Transfers: Maybank enables easy international fund transfers through its Maybank2u platform and SWIFT services.
Global Banking Network: Operates in 18 countries, giving students a wide network for seamless financial connectivity.
CIMB
CIMB Clicks: A user-friendly online platform for international transactions and fund transfers at competitive rates.
Multi-Currency Account: Students can hold and manage up to 13 currencies in a single account, making it easier to handle tuition and living expenses abroad.
Hong Leong Bank
Cross-Border Banking: Offers real-time transfers and foreign currency services for students studying overseas.
Global Debit and Credit Cards: Designed to provide seamless access to funds internationally, minimizing transaction costs.
Forex Solutions: Competitive foreign exchange rates for tuition fee payments or living expenses.
These banks provide essential services like cross-border payments, student-specific accounts, multi-currency options, and global networks, ensuring students have financial stability while studying abroad.
Not all study abroad scholarships cover living expenses or daily spending. Working part-time while studying abroad can be a great way to supplement your income, gain work experience, and enhance your resume. However, it's important to understand the regulations and restrictions that apply to international students.
Before you start applying for jobs, carefully review the terms of your student visa. Some visas may restrict or prohibit part-time work, while others may allow it with certain limitations (e.g. up to 20 hours during term time). Adhering to these limits is crucial to avoid jeopardising your visa status.
You can also check with your university for part-time positions as a research assistant or school library personnel. Jobs like these are conveniently located on campus and may even lead to longer-term placements as you advance in your programme.
If you're looking for a wider range of job opportunities, consider seeking part-time work off-campus. Cafes, restaurants, retail stores, and tutoring services (both physical and online) are common options for international students. Websites like Indeed, Seek, Fiverr, and Gumtree can be helpful for your job search.
If you do decide to work part-time while studying, you’ll need to hone certain non-academic skills to ensure you can juggle multiple priorities simultaneously:
Time management: Create a schedule that allocates sufficient time for both your academic commitments and your part-time job. Prioritise your studies and ensure that work doesn't interfere with your academic progress.
Don't overcommit: It's easy to get caught up in the excitement of earning extra money, but don't overcommit yourself. Taking on too many work hours can lead to burnout and negatively impact your studies. In the worst-case scenario, poor academic performance may lead to retention, suspension, or expulsion.
Funding your education abroad as an international student might seem daunting, but with the right information and resources, it's totally achievable. And IDP Malaysia is here to provide support and guidance every step of the way:
Scholarship search tool: IDP's online scholarship search tool can help you find scholarships that match your profile and academic goals. Simply enter your information and preferences, and the tool will generate a list of relevant scholarship opportunities.
Expert education advice: IDP's experienced education counsellors can offer personalized advice on scholarships, financial aid, and budgeting. They can help you understand the financial aid application process, identify suitable scholarships, and provide guidance on how much you need to study abroad.
Book a free counselling session with an IDP education consultant today to discuss study plans and financial options for going abroad. Whether you’re seeking scholarships to study in Australia or comparing New Zealand scholarships for international students, our counsellors can provide tailored student services and advice based on your circumstances and help you make informed decisions about funding your studies.
So, what are you waiting for? Embark on your overseas studies with IDP today!
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