Financing your study. Identify your potential financing problems and find the solutions now.

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• Is your employment income or your business income the only stream of revenue available for funding your study?
• Does your cash flow show that you can afford the cost of online degree?
• Are there any other sources of funds?

If you are not sure whether you have sufficient cash to take up your online study, do a cash flow prediction. Using cash flow, you are able to determine whether you have any problem to finance your study. We shall also look into other alternative sources of funds if the financial position turns sour.

Project your cash flow and understand your financing position

Is your monthly income sufficient to fund your tuition fees? Are you able to pay for the installment as it becomes due? Before you commit yourself and enroll in an online school, do a cash flow prediction.

If you are running your own business, there are more reasons for you to work out the cash flow. That would ensure that your cash availability is able to meet your liabilities or debts as they fall due.

Need help?

If you need some help in working out the cash flow, please fill in the form below. I can help you to complete the spreadsheet with commentary. However, you must agree to furnish some personal confidential information and data for working out the cash flow estimates. You can be assured that the information is used for the cash flow calculation only.

Finding alternative financing

Now, your cash flow does not paint a good picture in the period within which your tuition fee payments are due. How would you then find the alternative sources of fund?

These are the suggestions:

Government Scholarship or Grant.
Go to the Education Department. Talk to the Education Officer of high ranking and find out whether there is any scholarship or grant that you can apply. Mind you, there are strict conditions to meet. One of them of course is the excellent result of your Pre-U qualifications. Another is the degree you intend to pursue is recognized and is accredited. Most countries do not grant any scholarship to students studying abroad.

Government Loan.
Again, when you are talking to the officer in the Education Department, you may find out whether there is any loan scheme available. Find out also whether you can qualify. Apply for it.

Finance Assistance From Employer.
Talk to your boss. He may be able to help. Some employers have schemes in their policies to assist their workers for education and personal development.

University Grant.
You may try to request for grant from the university you are going to enroll. They may have grants available to those who achieve excellent result.

Foundations:
If you are a US residents / citizen, consider yourself lucky. There are Foundations that were set up with the objective of benefiting mankind through provision of education grants. Search through the internet for the Foundations that await you . Apply for it, and who knows the lady of luck is with you always. Non US citizen may also find similar foundations in their own countries as well. Search through the local, national telephone directory and or search by internet to find the foundations. Or, consult an Education consultant, or an Education Officer in the Education Department. They may have such knowledge and may give you good advice.

Bank Loan.
Go to your bank, talk to the credit officer. Show him your cash flow and find out how the bank could help you. Most of the banks want collateral. If you do have a property that can be mortgaged as the collateral, then the loan could be much easily approved. Otherwise, you may have to make a survey and find out which bank has a facility for student loan without collateral.

Loan From Relatives. Identify your rich relatives. Talk with them individually and find out who is willing to help you with the loan. If he/she is willing to guarantee your bank loan or, if he/she is willing to loan his/her surplus money to you, then you have your problem solved.

Grants or loans from clan associations. For the Chinese descendents, they may have yet another alternative. Most of the Chinese clan associations (e.g. Cantonese Association, Hainan Association etc) have scholarship schemes or loan schemes for their members' children. If your root is Chinese, find out from the Secretariate of the association.

Malaysian Scholarships & Study Loans
For Malaysians taking up higher study in Malaysia, there are a number of institutions that offer scholarships and study loans. One of which is a Govenment Agency, the National Higher Education Fund. For further information please visit: SCHOLARSHIPS & STUDY LOANS

MALAYSIAN - AMERICAN COMMISSION ON EDUCATIONAL EXCHANGE or MACEE for short

Get assistance from the experts
As a US student or as an International students in US colleges, you can get help from institutions who are scouting for scholarship programs, and those who give advice on financing of your loans. Try them:

Goto FreeScholarshipGuide.com and you may have a chance to win a scholarship for financing your education.

Federal Student Aid
"is an office of the U.S. Department of Education. It plays a central and essential role in America's postsecondary education community. Its core mission is to ensure that all eligible Americans benefit from federal financial assistance—grants, loans and work-study programs—for education beyond high school." This is one site that you can get all the information that you need to fund your education:

STUDENT LOAN CONSOLIDATION -Consolidate your loan to reduce education loan payments by as much as 50%. There are no credit checks, application fees or charges at all. This is a Federally sponsored loan program that wraps all of your student loans into one easy payment.

Goto https://www.collegiatesolutions.com for more information. For US Residents only.

Summary

In summary, before enrolment, make sure you have sufficient fund to pay your installment payments as they fall due. Identify your potential financing problems and find the solutions now before they become your burden.

Contributed by
AlbertChong
20 Jan 2005

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DeVry University

Capella Universitygives you the flexibility of fitting your education in your working life you most desired.

Regent University is America's academic center for Christian thought and action, with a multitude of on-campus and online programs available worldwide.

Winston-Salem State University is a premier, master's level public institution that develops the skills and values students need to contribute and succeed in the changing economy of the 21st Century.

Tulane University, a member of the prestigious Association of American Universities,is one of the most highly regarded and selective independent research universities in the United States.

Rasmussen College, formerly known as Aakers College. Rasmussen College believes in giving you the technical knowledge and the personal skills essential to employment in the ever changing world of business. Rasmussen College only focus on providing training for specific careers.

Benedictine University, The University is dedicated to the education of undergraduate and graduate students from diverse ethnic, racial and religious backgrounds. It is guided by Roman Catholic tradition and Benedictine heritage and is committed to liberal arts and professional education developing active, informed and responsible citizens and leaders

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Why not try uprooting yourself and study in Malaysia to earn your internationally recognized degree at cost saving opportunity.

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