Image From Pexels.com The coronavirus outbreak has forced universities to close their doors, which have been forced to make meaningful chang...
 |
| Image From Pexels.com |
Maybe you’re thinking about going back to
school, but you’re not sure this is the right time. The unemployment rate is
rising as COVID-19 is affecting different parts of the global economy. Take
advantage of this opportunity to re-evaluate your career choice. Don’t be
scared of the costs. Many educational institutions have changed tuition fees in
response to the global pandemic. To be more precise, tuition fees have been
reduced and even canceled. Unfortunately, not all universities have agreed to
do the same thing.
In what follows, we’ll show you how to
finance your Master’s degree in 2020.
Get help and support from the government
As mentioned in the beginning, some
educational institutions refuse to cut tuition for online classes even if the
global pandemic has had a negative impact on students. Taking classes online
requires an investment as not all instruction can be conducted via Zoom and
other similar platforms online instruction demands a big investment in course
management software, which allows professors to assign tasks and monitor
student progress. The point is that there’s no reduction on the horizon. You’ll
have to pay the full price if you want to get a good education.
If you’re dealing with financial concerns,
seek support from the government. In Canada, for instance, the government
adopted a series of measures to support students to overcome immediate
challenges. The Canada Student Loan Program provides relief for post-secondary education students
who are in the impossibility of managing tuition fees and the costs of books.
It’s worth looking into the matter. No matter what country you study in, there
are options available for students like you. Don’t count on the fact that
celebrities will use their fortunes to pay for your tuition fees. That’s
wishful thinking.
A loan can help pay for school-related expenses
University education is expensive due to
the need for new technology platforms, training, and online instructional
support. You can take out a student loan, which helps cover some of the school
costs. However, a personal loan might be a better choice because there are no
restrictions on how to use it. You can use the money to pay tuition fees and
additional expenses, such as grocery shopping, utilities (electricity), and
Internet services.
If you haven’t had the time to build a
credit history, don’t worry because you can still secure financing. There’s a
special category of loans - bad credit loans, to be more exact- aimed at
people who have a poor or limited credit history. It’s not necessary to put any
assets as collateral, but there are limited options when it comes down to
lenders. Pay attention to the interest rate when shopping around for a bad
credit loan. If you succeed in finding a personal loan with a low-interest
rate, you can use it to pay off your student loan. Anyway, make sure to do your
homework and don’t rush into making a decision.
Explore scholarship. And grants
You have all the time in the world, so it would be a shame not to look into scholarship opportunities. Universities often grant scholarships to graduate students, which come in the form of financial aid. The aim of scholarships for master students is to lessen the impact of rising tuition fees and help students concentrate all their attention on their studies.
Given the current context, it doesn’t come
as a surprise to find out that scholarship application deadlines have been
extended. You still have time to apply. It’s not recommended to wait too long
to request financial aid. Maybe you don’t need the money now, but things will
change significantly in the months to come. The global pandemic is advancing at an alarming rate and many
affirm that we’re heading towards a financial crash. The idea is that, in the
future, there might not be funds available, so apply for financial aid while
it’s still possible. There’s a tiny difference between a scholarship and a
grant. The scholarship is awarded from various funding sources, while the grant
is given to the university itself.
Explore freelancing opportunities
Freelancing allows you to make much-needed
cash and focus on your education. You can’t work and study; it will take up too
much of your time. The freelancing economy was doing pretty well prior to the
coronavirus outbreak. Now, it’s growing larger. Why? Because companies are only
looking to hire on an as-needed basis. If you’re not looking forward to taking
a traditional job, you’re in luck. As long as you’ve got some decent skills,
such as creative writing or video editing, you can land a project. The
possibilities are endless just so you know. Figure out what you want to do.
By freelancing, you can make money and make sure your school projects are finalized on time. It’s important to choose your timings and rates carefully. The last thing you want is to be underpaid. You might have a hard time deciding upon your hourly rate. The money you earn should be enough to cover the monthly expenses. Since you have a higher qualification, you can set a higher rate. Good negotiation and communication skills are of the essence just so you know.
