The dream of pursuing higher education abroad is not often pursued or considered by students due to the high cost of an education abroad. Little do they know that there are many scholarships and financial aid available at many different universities and also study abroad consultants will help them to know more scholarships for their education, some exclusive to Indian students. The takers of such scholarships are extremely competitive, and hence it will be ideal to know and learn about the many different scholarships that you might be eligible for. In this blog, we are going to let you learn more about the scholarships and financial aid that the Indian government and other institutions offer for your study abroad. 

What is a Scholarship or Financial aid?

Before knowing about the different scholarships and financial aid, it is important for you to know the difference between the two. Scholarships are nothing but a type of financial aid that is bestowed on students who meet some relevant and specific criteria. The criteria can range from being meritorious in academics, sports, or artistic ventures. This is given as a gift aid, which is not expected to be paid back. 

The scholarships can be offered not just by the government but also by charities, non-profit organisations, businesses, etc. 

Financial aid is similar to a loan, which, unlike scholarships, needs to be paid back. Financial aid helps students who do not have the immediate financial capability to enrol in courses, and it is seen that the payback period usually starts once the student gets a job or after a specific period of time after the completion of the course.

The Different Kinds of Scholarships Available are:

• Merit Scholarships: Merit scholarships are given when the student is academically brilliant and has expected scores that are higher than the normal range. Most of these scholarships are provided by the colleges and universities to which the applicants have already applied.
•  Scholarships for Artistic, Athletic, or Research Achievements: Such scholarships are awarded to students who have made exemplary achievements in their respective fields. One needs to be outstanding in sports, art, or even someone who has submitted valid research papers. To avail of these scholarships, the candidate must submit the certificates, and in the case of sports scholarships, relevant videos showing that you are extraordinarily talented will work in your favour.
• Low-income students: If you are coming from a low-income country or background, you can submit documents that state the same, and you can get grants based on that. 

Different Scholarships that Indian students can avail of for their abroad education

1. Erasmus Mundus Joint Master's Degree Scholarship

The scholarship amount varies depending on the country of origin of the student who is applying for the scholarship. The scholarship will cover the tuition fee, travel and living expenses, and insurance. Any student from any part of the world can apply for the scholarship, and all they need to possess is a valid undergraduate degree or an equivalent academic qualification. The scholarship is exclusively for students who are taking academic programmes across Europe. The scholarship can be availed for one to two years. Each study programme will have different deadlines; therefore, make sure you go through the official portal to keep track of the deadlines to apply for the scholarship.

1. Fulbright- Nehru’s Master's Fellowships

The scholarship amount granted under the Nehru scholarship mainly covers tuition fees, living expenses, and other related costs. The student should be in possession of a degree that is equivalent to a US degree with a minimum of 55% marks. Additionally, they should have three years of professional experience where they have showcased their leadership qualities and skills. They should also be assured about returning home, that is, back to India, and contributing to the community’s development and growth. The scholarship is for one to two years. Also, the scholarship is specifically for students who want to pursue a master’s degree in the USA. 

1. Fullbright-Kalam Climate Fellowship

The scholarship covers a monthly stipend, J-1 visa assistance, a round-trip economy ticket, an accident and sickness programme, and a settling-in allowance. This scholarship is exclusive to candidates who are registered for a PhD at an Indian institution and who have an affiliation with a US host institution. The scholarship expects the applicant to upload a published or presented paper or excerpts from it. The scholarship duration is for 6-9 months.

1. The Great Wall Programme

The applicant will be able to get a full scholarship, including tuition fees, accommodation, medical insurance, and an additional stipend. Any student who plans to pursue their higher education in China and who is below the age group of 45 years should also be in possession of a bachelor's or master's degree. The scholarship is exclusively for students from developing countries.

1. Inlaks Scholarship

The maximum amount of scholarship that a student can receive under this scholarship is USD 100,000. This is an exclusive scholarship for students in India who are applying to North American and European universities. The preferred courses for which the scholarship is eligible are as follows: architecture, applied arts and conservation, business administration, communications (film, television, and journalism), design and fashion design, fine arts, theatre and dance, special education and law, music, and composition. The students have to be below 30 years of age and have a bachelor's degree from a recognised college or university in India. 

1. The National Overseas Scholarship Scheme by the Indian Government

This is again a government-oriented scholarship that has been curated for the underprivileged section of candidates who form part of scheduled castes, denotified nomadic and semi-nomadic tribes, landless agricultural workers, and traditional artisans. The scholarship is for postgraduate courses and covers tuition fees and other relevant study expenses. The applicant should be under 35 years old and have at least 55% of the marks. The combined family income is less than Rs. 6,00,000. The scholarship is for candidates who are applying for a Master's with a PhD in subjects as follows: agricultural sciences and medicine; international trade, accounting, and finance; humanities, engineering, and management; pure sciences and applied sciences; and social sciences.

These are just a few of the vast number of scholarships available here in India, and according to place of study and course of study, the amount of scholarship can differ. The respective universities and colleges also have different kinds of scholarships, which you can understand through their academic counsellors. 

Also Read: https://www.globor.in/blog/scholarships-and-funding-opportunities-for-indian-students-study-abraod