These days, many people have been “japaing” and some more people will still japa. Most times, the reason why Nigerians japa is for educational purposes.
Embarking on an international study adventure is a dream for many Nigerians, however, the financial aspect can be very challenging.
If you’re a Nigerian student with dreams of studying abroad, fear not because in this blog post, we would explore smart strategies on how you can fund your international study escapade.
We would also talk about the MPower loan and its partnership with Vesti to make your dreams a reality.
Before exploring the funding opportunities for Nigerians, let us dive into these 3 key steps a potential International Student should take.
These include;
1. Goal Clarity:
Before embarking on an international study journey, you have to be clear on what kind of degree you want to pursue. Whether it’s pursuing an undergraduate program, a Masters, MBA, PhD, Diploma or other special programs, setting clear goals is essential.
2. Research and Plan Strategically:
The next thing is to arm yourself with knowledge. Make research on universities and programs that align with your goals and budget. Consider countries with lower living costs and explore scholarship opportunities specific to your field of study.
3. Get Your Documents Ready in Time:
After acheiving academic success, get your transcripts, recommendation letter, international passport, proficiency exam results like IELTS, TOEFL, GRE, GMAT (if required).
Achieving high scores in these proficiency exams can open doors to scholarships and financial aid. Invest time in rigorous preparation to maximize your chances of securing financial support based on academic merit.
It is advisable that you commence the processing of the above documents at least 6 months before your application for international admission, to avoid disappointments.
THE FINANCIAL CHALLENGE
Let’s address the major thing which is financing your japa journey.
Many students face challenges in securing funds for tuition, living expenses, travel expenses and other associated costs.
However, there’s a beacon of hope. We’ve helped you gather some workable tips to fund your international study.
They are as follows:
1. Build a Strong Academic Profile and CV:
Academic excellence can open doors to various funding opportunities. Strive for outstanding grades, actively participate in extracurricular activities, volunteer for good causes(especially in line with the SDG goals), gather work experiences, and seek out leadership roles. A strong academic profile and an irresistible CV enhances your eligibility for scholarships.
Meanwhile, your grade should not limit you. You could still pursue an international study with a second class or a third class result.
2. Scholarships–The Superheroes of Funding:
Scholarships and Fellowships are golden tickets for many aspiring international students. Numerous organizations, both governmental and private, offer fully funded scholarship opportunities for Nigerian students.
a. Government Scholarships:
Nigeria boasts various government scholarship programs that can significantly ease the financial burden of aspiring international students.
Organizations like PTDF, NITDA, Federal Ministry of Education, Bilateral Education Agreement (BEA), and the Nigerian National Merit Award offer scholarships for undergraduate and postgraduate studies abroad in various fields of study.
You can make research about eligibility criteria and application procedures. Then go ahead to prepare a stellar application, and who knows? You might just bag the golden ticket to your dream university!
b. Private Scholarships and Grants:
Beyond government initiatives, explore scholarships provided by private entities. Many international organizations, foundations, and corporations offer financial assistance to students from developing countries. Websites like Scholarshipair.com and myschoolgist.com regularly update lists of available scholarships.
Some of them include Erasmus Mundus scholarships, Commonwealth Scholarship Commission (CSC), Chevening Scholarships, Mastercard Foundation Scholars Program, Aga Khan Foundation International Scholarship Program, and World Bank Scholarships Program.
Check them out to be sure that you meet the eligibility criteria. Go through the process while keeping an eye on deadlines, tailor your applications, and showcase your achievements and aspirations effectively.
3. Crowdfunding – Your Network, Your Strength:
In the age of social media, crowdfunding has become a viable option for funding education.
Platforms like GoFundMe and Kickstarter allow you to share your story and goals with a global audience. They can be your allies in raising funds for tuition, accommodation, and other expenses.
Craft a compelling campaign, share your story, and let the online community rally behind your educational pursuit. Engage your network, express your passion, and watch the support roll in. A lot of people have utilized this opportunity and have gotten results. You can try it too.
4. Educational Loans:
Consider educational loans as a last resort.
While they can provide immediate financial relief, be mindful of repayment terms and interest rates. Thoroughly research reputable financial institutions that offer student-friendly loans with reasonable conditions like Mpower loans.
a. Introducing MPower Loans:
MPower Financing stands out as a game-changer for Nigerian students seeking financial support. This innovative lending platform specializes in providing loans to international students, including those from Nigeria. The process is designed to be simple, ensuring accessibility for aspiring global scholars.
b. The Vesti Partnership:
Now, what makes MPower even more accessible to Nigerians? Vesti, a strategic partner working hand-in-hand with Mpower to bridge the financial gap and empower Nigerian students to pursue their international education dreams.
Download the Vesti app and fill the application form to get started. Vesti has over 100 partner schools in both the USA and Canada, if you want Vesti to provide funding for your international study, ensure your choice of school is a partner to Vesti.
c. Unpacking MPower Loan Features:
Let’s dig into the specifics. MPower offers competitive interest rates, and the repayment plans are designed with the flexibility needed for students. With no collateral and no Guarantor required, this option opens doors for those who might not have traditional assets to secure a loan, of which most students are.
d. Navigating the Application Process:
Applying for the MPower loan is a straightforward process. Visit www.mpowerfinancing.com. Check out if you’re eligible and provide the necessary documents needed. Then, you can begin to fill out the application. You have just taken the first step to bringing your international education journey to reality.
e. Tips for Successful Loan Approval:
You can maximize your chances of loan approval with our expert tips by maintaining a good credit history and showcasing your commitment to your academic journey.
5. Beyond the Loan – Exploring Additional Funding Sources:
While MPower and loans are good options, we’ll also explore other avenues for securing funds to complement your financial plan:
a. Graduate Assistantship/Research Assistantship:
You can explore part-time work opportunities in your school of study as a graduate. It works as a scholarship opportunity where students work for the school and get paid daily or monthly, or the school deducts their salaries from their tution fee, while the Student pays the outstanding tution balance.
b. Explore Freelancing Jobs, Part-time Jobs or Paid Internships:
Many countries allow international students to work during their studies. This not only provides a financial cushion but also enriches your overall experience.
6. Strategic Budgeting and Savings:
Start budgeting early and make conscious efforts to save. Cut down on non-essential expenses and create a dedicated fund for your international studies. This disciplined approach can significantly contribute to achieving your international study goals.
7. Partnerships and Exchange Programs:
Explore university partnerships and exchange programs. Some institutions collaborate globally, offering opportunities for students to study abroad without breaking the bank. Research and identify universities that have established such connections.
Additionally, building a strong support network can make a significant difference.
If you have any close friends or family as an alumni of a scholarship or an international institution you want to attend, ask them for guidance too.
You can also join online communities, and seek guidance from those who have navigated similar paths. Their insights and experiences can provide valuable tips and encouragement.
In conclusion, when you finally get there, embrace the adventure! Studying abroad is not just about academics; it’s a transformative journey that shapes your worldview and fosters personal growth. Hence, approach the process with an open mind, resilience, and a sense of curiosity.
Your international study experience is not just an investment in education but in yourself.So there you have it – a roadmap to turn your international study dreams into reality.
Remember, where there is a will, there is a way. Combine determination with strategic planning, and you’ll find yourself on that plane to academic excellence in no time.
Wishing you safe travels in advance, Scholars! 🌍✈️
