One of the most important things to take cognizance of while planning your relocation abroad is the monetary aspect of it. Most of the time, when we get on calls with clients, the first concern they express is being unable to fund their relocation dreams without getting stranded.
Whilst this is the wise thing to do because anyone who desires to build a house needs first sit and count the cost of the building.
Most of the time, you need to take a leap and do things that you wouldn’t normally do and you’ll be surprised that things will fall in place once you take that corresponding step toward the realization of your goals.
Just as Suzy Kassem said, Sometimes, changing a situation you are in requires you to take a giant leap. But, you won’t be able to fly unless you are willing to transform.”
In this blog, we have highlighted ways in which you can fund your relocation dreams without being stranded while at it.
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1. Friends and Family
Just like Micheal Fox rightly posited, Family is not an important thing. It’s everything.” this shows that most of the time when we are in a fix, we can always reach out to our family for help and assistance. There have been instances where family properties had to be sold in other to fund the relocation dreams of a family member. You just got an admission and you’re totally oblivious as to what to do with it, this might be a great time to reach out to your family and friends for support.
The support can come in varying forms. Don’t die in silence, seek help.
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2. Bank Loans
You can also fund your dreams by taking loans from commercial institutions, there are commercial institutions in Nigeria that make loans available to graduate students.
We have put together some of the banks and all you need is to do your due diligence while considering this pathway. Some of the banks include;
Students can use the Access bank loan program to finance their short-term academic needs.
From prekindergarten to graduate school, you can apply for an Access bank loan. Without refinancing, you have access to up to ₦5,000,000.
In addition, the interest rate is modest. It has 20% of it annually. The repayment duration is also between 4 and 6 months long.
Under the name Eduloan, the First Bank PLC Nigeria provides loans to students in Nigeria. The loan is only offered to institutions that can use it to support their students or students.
The loan includes a three-month flexible repayment schedule. You are eligible for up to ₦10,000,000.
3. THE FIRST CITY MONUMENT BANK LOAN
This is yet another outstanding bank in Nigeria that provides student loans. There are two groups of loans. One is the loan for school support, which provides more than ₦15 million Naira to schools and customer support. Undoubtedly, this is for those who want to study abroad.
4. STANDARD CHARTERED EDUCATIONAL LOAN
The Standard Chartered Bank offers this loan program which has a payback schedule that ranges from one month to six years.
You can also borrow up to ₦10 million Naira. In the event of death, there is also credit life insurance.
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3. Scholarships, Grants, and Bursaries
Universities like Nottingham Trent University require that after your application has been successful and you’ve been given an offer of admission, there are scholarships available to international students for up to 50 percent of the tuition fees. Like NTU, there are many universities in the UK, Canada, and Europe that provide diverse Scholarships and grants for international students like yourself and, all you need do is search for the one that is best tailored and suited for you.
Written by;
Onyeka David Ugorji, AIPMA,
Founder of NaijaCareers
