Education plays an important role in one’s life, leading to several benefits such as financial security and prosperous career. Everyone wants to have a better educational background, but not everyone can really achieve this very goal because of several factors including lack of finance. Here we will show you seven ways to raise fund for your higher education.
Higher education, which can also be called post-secondary education, is the level of education one ought to attain so as to acquire an academic degree/award.
Lack of higher education has become a great obstacle in people’s life, especially in this part of the world. This makes it an ambitious pursuit that, once acquired, can maximize the individual’s quality of life and opportunities.
Education requires money which goes for the majority of things such as tuition fee, books/materials, accommodation fee, etc.
To enable one to achieve the goal of obtaining higher education, without being stopped by the major challenge (finance), we’ll be unveiling seven (7) possible means to tackle the financial setback.
7 ways to raise fund for your higher education
Ways to settle your higher education financially, there are a lot of ways one can get to pay for his/her higher education pursuit, but in this very post we shall look at the allowing seven (7) tested and trusted ways;
1. Through scholarship openings
For those who really want to gain higher education but because of financial constraint couldn’t further, getting a scholarship award is a cool means to tackle such a hurdle.
Although there are different scholarship schemes with very requirements, being awarded by several bodies in Nigeria, just that one ought to be eligible in order to be a beneficiary.
A scholarship can send one to study not only in the best institutions in the country but also in overseas (Abroad). It actually depends on the type of scholarship, which could be specific scholarships, merited-based scholarships, and/or sports scholarships. Statistically, over five hundred (500) Nigerians had being sponsored under scholarship scheme to run undergraduates programmes, Masters degree, and also PhD.
2. Student loan
Because of modernization, there are several types of loans made available to the public, by different financial institutions. Securing such a loan is quite easy as long as you meet the stipulated requirements. In this context, we shall look at student loan, which is currently available in most financial institutions.
A student loan which caters for an individual education, especially the tuition fee, is in most cases refer to as soft loan since it attracts lower interest rate and flexible repayment pattern.
Some of the financial institutions that render student Loan are: FG education loan, First bank Firstedu loan, GTbank student loan, etc.
With a crowdfunding account, one can easily raise funds to run his/her higher academic pursuit. Although it won’t be that easy, especially when the fundraiser is relaxed but with dedication and followup, you can run that higher educational program with the help of Family, Friends, Church members, and also Donors on the platform you would use to raise the fund. Some of the platforms that can be used for crowdfunding are: NaijaFund, GoFundMe, Donate ng, and IndieGoGo, etc.
4. Starting up a business
Most people opt for business, to enable them to make money as fast as possible, then sponsor themselves towards achieving that higher qualification they hope to secure.
In most cases, businesses that can raise funds within a short time are;
- Wed designing,
- Online Advertising,
- Freelancer in various fields,
- Graphic designer,
- Specialist in specific areas, etc.
Such businesses can be started so small, but as long as the person involve is economical there must surely be success in a short run.
5. Long-term savings
There are people who are into several businesses and have good jobs, but still find it difficult to acquire higher education.
All that such person needs is a long-term savings, which can only be achieved through a proper budget. Once there is a sure budget/saving plan, the individual can realize a good sum of money which can be used to further his/her education. The savings can be done on a monthly basis, i.e. setting aside a particular amount of money every month in a different purse (account), once salary has being received.
6. Working and schooling
Another way most people achieve their set goal in acquiring a higher education is by working and schooling at the same time. This enables the student to meet up with the financial dealings required regarding his/her study.
Although it is almost impossible to be studying at the same time working, hence, the favorable type of job to engage in his part-time jobs paid internships.
Some persons can still apply for job placement in their school environment, as long as it doesn’t collide with lecture hours, and seem to be flexible enough to avoid glitch of any sort.
7. Through employer training opportunities
Most Organizations deem it necessary to send their employees for higher qualification studies, as they know that the success of any business rest on the shoulders of its manpower (human resources).
Once staff performance is efficient and effective, there will be maximum productivity in the organization, which will definitely yield tremendous success in their field.
For this reason, employees who wishes to further their education are mostly sponsored by the organization they work for, be it postgraduate degree level or Masters degree level, such an employee will be sponsored with some terms and conditions being put into consideration i.e. coming back to work for the firm after completion of the program.
Conclusively, acquiring a higher educational qualification is very important as long as the individual wants to grow in all ramifications (e.g. career advancement and self-improvement). But the major constraint which is finance can be tackled once the above listed options is being put into consideration.
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