Every year, a large number of students pass out from a number of schools, colleges and universities in India. Most of them want to continue with their studies, and some of them even want to go abroad to pursue further studies. The Ministry of Human Resource and Development and other nodal agencies in our country offer a number of higher education scholarships that allow students to pursue with their education in India and abroad.
A scholarship is basically a sum of money that is given to a meritorious student to help him/her seek the education that he/she deserves. An Indian scholarship awarded to an Indian citizen is different from a loan. A loan is availed from a bank and the beneficiary has to pay back the loan amount along with some interest. But, a scholarship is an amount that is basically a gift and one does not need to pay it back. However, in India, there is lot of competition among the aspirants to grab the limited number of scholarships available. So an aspirant has to prepare himself and find out the rules and regulations that govern the granting of scholarships.
The main reason why a student should apply for a higher education scholarship 2018 is:
• Studying abroad entails a lot of expenses that are often too high to be borne by the student. In recent years, the value of the rupee has fallen while the cost of living and tuition has increased substantially in most English-speaking countries. A student who has gained admission in any recognized college or institution in countries like Australia, England or the United States, needs to get a scholarship in order to pursue the course of his choice.
• Banks also do not provide the entire amount of the tuition and living expenses that a person staying abroad will require. They generally provide 50-70 percent of the required amount, against a mortgage along with a high rate of interest.
Generally, scholarships for Indian students can be offered by the Government or by the University where they are seeking admission or even by philanthropists and private organizations like the Reliance group, Tata Group, Aditya Birla Group and the Sun Foundation. A student who wants to pursue doctoral study may also be provided research grant.
Another important factor that can determine whether a person will get a scholarship is a good scholarship essay. You need to start researching for scholarships well before the admission season to find the best one. Keep track of some universities and colleges that offer admissions to students irrespective of their financial background and which offer scholarships and grants to deserving candidates.
Rajat Kumar has an engineer’s degree and believes that scholarships play a major role in helping one fulfil the dream of studying abroad. He is now a lecturer in one of the top engineering colleges and loves to educate students on the importance ofscholarship for higher studies.