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

Easy Forex

Financing your study.Start your online degree with a 10k scholarship giveaway.

• 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:

Register with FreeScholarshipGuide and Win a 5,000 scholarship today! Download the Directory and just complete the registration form. After completing your registration, you can login to the Members Area and use the Search Tool and also Research Colleges and Education Programs that offer Online and Campus-Based courses and degree. You are also eligible to win a US$5,000 Scholarship, given away twice per year. You can use the $5,000 Scholarship to finance your study in any College, University, or Education Program, online or offline, to pay for Student Loans, or even give the Scholarship to a Family Member or Friend. The $5,000 can be used for any educational opportunity, including Private High School, GED, Certificate Programs, Associates Degrees, Undergraduate & Graduate School, Distance Learning, Home School, Continuing Education and Career Training. You must be at least 13 years of age. And, you must be a US resident to enter.

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 -With rates as low as 3.7% a consolidation loan can 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. Click Here 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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