5 Ways To Help Fund Your Overseas Degree

When it comes to pursuing a recognised overseas degree, not everyone can afford the huge price tag that comes along with it.

While that might be true to a certain extent, there are many other financial schemes and assistance students can tap on to help them cope with the finances.

We believe that finances shouldn’t be a hindrance when it comes to chasing your dreams and aspirations.

Hence, we’ve got you covered! Here are 5 ways to fund your overseas degree:

1) Merit-Based Scholarships

Merit-based scholarships are probably the ones you’ve heard of the most. They are awarded by several institutions, from the University itself to the government, to even professional corporations.

White the mode of assessment and eligibility criteria vary from scholarship to scholarship, they typically assess a candidate based on grades and other non-academic achievements, including passion and participation in community work.

Examples:

• Australia:

  • University of Melbourne Graduate Research Scholarships: A prestigious scholarship offering funding for international graduate students pursuing research-based Master’s and PhD degrees at the University of Melbourne.

• UK:

  • Rhodes Scholarships: One of the most prestigious scholarships, this program at the University of Oxford provides full funding for international students to pursue a Master’s or DPhil (PhD) degree.

• US:

  • Columbia University International Scholars Program: Offers merit-based scholarships to international students at Columbia University, particularly for undergraduate students who excel academically and demonstrate leadership skills.

• Canada:

  • University of Toronto International Scholars Program: A merit-based scholarship for international students pursuing undergraduate studies at the University of Toronto, offering a combination of scholarships for academic excellence.

• New Zealand:

  • University of Auckland International Student Excellence Scholarship: This scholarship offers a one-off tuition fee discount to international students starting an undergraduate or postgraduate program at the University of Auckland.

2) Student Grants

Also called need-based scholarships, these are awarded based on applicants’ social-economic statuses. They usually also take into consideration students' special needs such as physical/mental disabilities.

Student grants are available to remove financial roadblocks from students’ lives. They serve as a bedrock for helping financially underprivileged students to gain a new outlook in life, a foothold in a new stratum of society.

Here’s a list of need-based scholarships to consider in 2025:

• Australia:

  • Australian Government Research Training Program (RTP) Stipend: Provides financial support to domestic and international students undertaking a Research Doctorate or Research Masters degree at participating Australian universities.

• UK:

  • The University of Oxford Undergraduate Bursary Scheme

    : For UK and international students from low-income families, this bursary offers financial support for undergraduate study at Oxford.

• US:

  • Gates Scholarship: This highly competitive scholarship provides full funding for underrepresented minority students in the US to pursue a degree in any field of study.

• Canada:

  • Canada Graduate Scholarships – Master’s Program (CGS M): This program supports students with financial need who are pursuing graduate-level studies, offering up to $17,500 for one year of study.

• New Zealand:

  • New Zealand International Doctoral Research Scholarship (NZIDRS): Provides full tuition fees, living allowance, and other costs for international students pursuing a PhD in New Zealand, particularly for students from developing countries.

3) Student Loans

There are a few options for this. You can get a student loan from the government, a local bank from your home country or a foreign bank in the country you’re studying in.

The loan terms are generally similar across most banks, where at least one guarantor is required to be a family member with a reasonable salary.

Student loans from the government are usually more economical and can even come with 0% interest rates. However, you are only qualified for student loans from the government if you intend to pursue an education at an autonomous institution.

Choosing a bank loan with favorable interest rates will help with alleviating the financial pressure off you and grant you a more fulfilling time overseas.

4) Sports Scholarship

Sports scholarships are usually awarded to high performing athletes who take part in national or international competitions.

They are also awarded to students who display exceptional performance or talent at a specific sport and want to practice it at a respective education institution.

This is advantageous for the school institution as well since they will be accepting students of high sporting abilities who can contribute to the wider diversity of the school community.

The eligibility criteria for such scholarships are usually more holistic but that being said, scholars are still required to uphold certain standards and expectations that come with accepting such scholarships.

Here’s a list of universities that are most generous with sports scholarships:

• Australia:

  • University of Sydney Elite Athlete Program: Offers scholarships for athletes who are competing at a high level in their sport, providing financial assistance and support for balancing studies and training.

• UK:

  • University of Stirling Sports Scholarships: Offers a variety of sports scholarships to elite athletes who wish to study while competing in their sport at a high level.

• US:

  • NCAA Sports Scholarships: Offered by colleges in the U.S. to student-athletes competing in national collegiate athletic events. These scholarships can cover full or partial tuition.

• Canada:

  • UBC Thunderbirds Sports Scholarships: Offers scholarships to top-performing athletes competing in various sports while studying at the University of British Columbia.

• New Zealand:

  • University of Otago Sports Scholarships: Provides financial and academic support for students who are high-level athletes and wish to pursue sports at the elite level while studying.

5) Company & Employer Scholarships

Another alternative to fund your college/university fees is through company scholarships.

Such scholarships are usually awarded when a company deems a certain individual to be potentially value-adding to the company, hence is willing to fund the individual’s university education.

However, that comes with the reciprocation of serving a mandatory bond with the respective company after the individual completes his/her course of study.

While a bond helps you to secure a job post-graduation, you have to consider whether it’s a bond you can truly commit to in the future. Breaking of bonds can result in extensive monetary penalties of hundreds of thousands of dollars.

Always remember to read the fine prints carefully and be sure of what exactly you’re signing up for, before fully accepting the scholarship!

Study Abroad With IDP Today

In 2025, students have an array of opportunities to fund their education in Australia, UK, US, Canada, and New Zealand. Whether through merit-based scholarships, need-based assistance, student loans, sports scholarships, or employer-funded programs, there are financial options available for students from various backgrounds and disciplines. It's important to research each scholarship’s eligibility, application process, and deadlines to make sure you apply for the best opportunities to help you pursue your academic and career goals.