Attending a tertiary institution is generally very expensive and while it is a dream for most people to study at university the reality is that for many people a lack of finance simply makes tertiary study an impossibility. This is a tragic situation because a university qualification is often a passport to earning more and to the creation of new and exciting opportunities in the workplace. But there are always options and you should never stop trying – especially if you have done the hard yards and been accepted to study by an institution. So where do you look if you want to make your dreams a reality? Here are a few options to consider when it comes to funding for your studies.
Specialist loan companies
Lending institutions will set themselves up to cater to specific fields. There are outfits who specialise in mortgages. Or companies that only do vehicle financing. Similarly, there are lenders that are specifically tailored as a student loans company. The goal should be to identify these companies – they are usually based in the vicinity of the universities themselves and find out what they can do for you. Also ask on campus at one of the finance offices, it is very likely that they will be able to steer you in the right direction. One of the best things about loans tailored specifically for students is that they are interest-free until you graduate.
This is the traditional place to go in order to get a loan. Loaning money is how banks make their profit and they are always keen to agree on terms with students who they assume will have considerable earning power once they graduate. You might require your parents to sign surety on the loan if you don’t have much by way of security to offer, but that is usually a formality that most proud parents will agree to.
One of the most under-rated sources of funding is parents, or perhaps, more broadly speaking, family. Your parents or grandparents inevitably want the best for their children, and they are usually prepared to make a lot of sacrifices in order to help you achieve your dreams. Don’t take your parents for granted and always ask for help and offer to repay them. But don’t be too proud to ask for help.
Almost every corporate will have a student scholarship or bursary programme and you should always look to find ways to tap into these avenues. Write letters to outfits that are aligned to your field of study and reach out to CEO and Board Chairmen. If you don’t ask you will never receive anything. The nice thing about winning a bursary from one of these institutions is that they generally come with the expectation that you will work for them once you graduate. So, it is not only a case of getting your studies paid for but also a guaranteed job for you once you graduate. Talk about a sweet deal!