First and foremost, obtaining advanced education has long been a goal for numerous individuals, encompassing both young aspirants and adults engaged in what often feels like a competitive pursuit. Beyond just providing numerous financial advantages, it also presents a pathway to financial stability that can profoundly alter one’s life. In the contemporary era, the importance of education cannot be overstated, given its profound impact on various facets of our lives.
Tellingly, there are several reasons that can hinder you from acquiring higher education. One of them is a lack of financial support. Lack of financial support has been an impediment for some people in acquiring higher learning. The unavailability of finance is considered one of the biggest hurdles in education as some of the courses and the schools are quite expensive.
However, for anyone determined to gain more knowledge and certifications for career advancement and personal developments, there are ways to get funded. Here are ways to go about it.
1. Be on the sentinel for scholarship openings
There is still a way to make your dream come through, especially for anyone that has no financial means to further their education. Getting a scholarship is the best way to go about it.
Studies show that there are over 500 Nigeria scholarship opportunities for undergraduates, masters, and PhD for students in Nigeria to study at home or abroad. Though scholarship as a form of financial aid is awarded to only eligible students and applicants. There are various types of scholarships and ways in which they are awarded by various organizations and individuals. Some of the common types of scholarships are merited-based scholarships, sports scholarships, and specific scholarships.
2. Go for student loan
Going for a student loan is another way to pay for your tuition. It is designed to aid students to pay for their education. This loan differs from other kinds of loans in the sense that the interest rate is relatively lower, and the repayment schedule is much more flexible.
Funding education should not be a colossal task and students should have a range of options available for accessing quick loans in Nigeria. The first thing to do is to be on the lookout for platforms granting loans for school fees and ensure that you meet all their requirements. Some of the banks are Access Bank student loan, GTbank student loan, Firstbank Firstedu loan, and Federal Government Education loan,
3. Set up a crowdfunding account
Crowdfunding is another way to seek financial support. You set a crowdfunding account up, then seek help from your family and friends to support you. You can also start a campaign to raise donations on your account. In Nigeria education is the easiest way for someone within the middle and lower class to have a better life and although the cost of education is high, especially for someone that wants to move to abroad to study.
With crowdfunding, friends, family members, church members, and strangers could support with donations to go to school. The common crowdfunding platforms include GoFundMe, IndieGoGo, Donate ng, MicroVentures, CircleUp, and NaijaFund.
4. Make use of employer training opportunities
The success of any business, whether in the private or public sectors, lies mainly in the quality of its human resources. Research confirms that training of manpower is a major prerequisite for any organisation that wants to achieve maximum productivity through the efficient and effective performance of the employee. In some organisations, there are some opportunities open to staff who wish to further their studies either at masters or postgraduate level but do not have money to do that. Organisations see this as the best way of upskilling their workers.
They invest in their education too, after which they come and work for them again. However, if you are opportune to be in such an organisation it is imperative that you make use of the opportunity.
5. Combining your work and education
While you study, you can also work by taking up part-time jobs and internships to save up funds for your education. Studying while you work is one of the most encouraging sources of financial aid, as you do not have to struggle to get scholarships or grants and do not have to pay back student loans. When looking for a job in school, you should try to find a job that is flexible and does not require you to work late hours, and above all offers a decent wage.
Also, It is an added advantage if your job allows you to learn about a field you are interested in or studying in school. Some of the jobs you can do while in school include Appling for a paid internship in your field, drive for Uber or bolt, Tutor in a subject you excel in, and apply for a Freelancing job.
6. Start a business
You can start a business while you study, this can be done online to enable you to study will or physically. You can start small and be very economical about the business. Remember that the aim is to make money as fast as possible to finance your studies. So, therefore, try to start a business that will bring in quick cash for you in the short term. some of the business to go into are Web Designer, Graphic Designer, Freelance Writer, and Online Advertising, Specialist
7. Save towards paying for your tuition
If you have a steady 8 – 5 job that pays you every month, you can plan to save for your higher education. A budget is another way to enable you to stick to your savings goal. You can decide to save a specific amount of money every month for a particular period.
8. Utilize educational grants: Explore various grants available for students pursuing higher education. Grants are typically awarded based on financial need and don’t need to be repaid. Organizations, institutions, and governments offer grants to support students in their educational endeavors.
9. Seek out work-study programs: Many universities and colleges offer work-study programs where students can work part-time on campus or with approved employers to earn money to help cover educational expenses. These programs often provide flexible hours to accommodate students’ academic schedules.
10. Consider education savings plans: Investigate options like 529 plans or education savings accounts (ESAs) that allow individuals and families to save and invest specifically for educational expenses. These plans offer tax advantages and can help alleviate the financial burden of higher education when the time comes.
By exploring these additional avenues along with the previously mentioned methods, individuals can increase their chances of funding their higher education and achieving their academic goals.
