How to finance your education in a foreign country

A great number of young people give up the idea of studying in a foreign university due to financial concerns. Actually, there are a lot of sources that can provide a student with the necessary finances for completing their university education abroad

Except a bank loan, the candidates for a Bachelor’s or Master’s degree who are willing to study medicine abroad can take advantage of the opportunities for getting a student’s scholarship that fully or partly covers the education expenses. It’s important to check the application requirements and submit the necessary documents in time. 

Depending on which country you’ve chosen, you can search for the specific scholarships which foundations and other organizations in this country are offering. 

If you are willing to study in Germany, here are some of the opportunities to receive a grant:


BAföG loan 

Students receive 50 per cent of BAföG aid as a state grant and 50 per cent as an interest-free loan. To receive BAföG support, you must be under a certain age when you begin your programme. For first degree programmes, you should be under the age of 30, and for postgraduate programmes in Medicine, you should be under the age of 35.

Scholarships given by foundations

In most cases the selection of scholarship students is done based on provided evidence of their talents in a certain area and their strong social engagement. Here are some of the foundations in Germany whose application requirements are worth checking:

Friedrich – Ebert-Stiftung –

The foreign students can apply for a scholarship for both Bachelor’s and Master’s degree. Each year the foundation gives 40 scholarships to students in their Bachelor’s degree and 40 scholarships to students in their Master’s degree. The duration of the financial support is 2-3 years and the amount of the scholarship is determined according to the education stage of the student and the duration of the course. It varies between 600 and 100 euros.

Heinrich-Boell Stiftung -

Foreign students can receive a scholarship from this foundation if they have successfully passed the selection process which consists of 2 parts – with documents application and an interview. The scholarship is aimed to cover the expenses during the stay in Germany. 

Scholarship from Forum der Medizin

You can take advantage of the opportunity to receive a scholarship from Forum der Medizin. The requirements include: excellent marks in the university exams and active participation in scientific, research or practice projects. Your average grade from the previous semester has to be at least 5.50 and you have to provide evidence that you have successfully taken all university exams so far. 

You can apply by registering in a website created especially for the project (by visiting Forum der Medizin) and filling in the individual form.

Financial support from the EU funding programs

European Union Erasmus Mundus grants

If you have chosen Belgium, Austria or any other country that is a member of the EU, you can apply for a grant from European Union Erasmus Mundus. For the courses starting in the next academic year 2014/2015, you have to submit the documents during the last quarter of 2013 or in January 2014. 

2013 - StudyPortals Study Abroad Scholarship

This scholarship is open to any student across the globe, in any discipline. The application process is simple and can be carried out fully online. You are normally required to take an English Proficiency Test if you come from a non-English speaking country. Most European Universities recognize the IELTS test. The sum of money you are going to receive if approved is 1000 Euro.

Scholarships for university education in the UK

Chevening Scholarships

The programme provides full or part funding for full-time courses at postgraduate level, normally a one-year Master’s degree, in any subject and at any UK university.

Commonwealth Scholarships

Commonwealth Scholarships are offered for Master’s and PhD study in the UK. Each year, the CSC invites each university to forward a specific number of nominated students. The CSC’s deadline for nominations this year is 17 December 2013.