05 January 2018

Sources of Funding for Education


There are various sources students, teachers and school can use to seek education funding. Some of these funding mechanisms are based on performance as well as various subjects. The funds are different as per the source, some are limited to tuition fee while others include maintenance fee.

The following are a number of sources for funding education.

Educational Trusts and Charities

It is possible to get funding from educational trust and charities for further or higher education. The funding can be limited for a single year or for the entire educational course. Often, the charities restrict their funding to specific groups, example students from a particular region, students within a certain age, or a student undertaking a specific course. You should consider if you fit in the expected category before you apply for the fund. In most cases, charities offer help to the first-time student. It’s hard to get aid when undertaking a postgraduate or a second undergraduate course. Institutions have different rules on who qualifies for funding and how much is the offer. The funds are usually awarded as per the institution discretion. For example, personal circumstances, requirements, and educational achievements.

University / College Fund

Most academic institutions in the UK provide funding to students in form of scholarship, bursaries, and various awards. The grants they offer don’t require payback. Moreover, some educational institutions offer a fee waiver which can be part or the entire tuition fee. The funds don’t limit the level of students study, whether you are a postgraduate, undergraduate or part-time student as long as you fit their criteria.

Government Funds

All university students are entitled to receive funding from the government. There are different finances available from the government through student loan companies. In England every year makes an announcement of the level of support they are going to provide for continuing and joining undergraduate students. You can easily contact the relevant organization through student finance England number. The government support is usually available to inform of tuition fee loan, maintenance grant and maintenance loan. The government allows students to defer from paying the loan they were given until they are through with their university course and earning a certain minimum salary.

Sponsorship

One can also get a sponsorship whereby the complete fee will be paid for a part or the entire course. Sponsorships are like grants, therefore, you are not required to pay back. The sponsorship can either be full time or part-time. At times one can get an employer sponsorship, especially for postgraduate studies. This is whereby the employer pays your fee so as you can further your skills on a certain section or level at your workplace.

In conclusion, there are a variety of education funds depending on the level of education. However, some of the funds are obtained with a certain expectation. Moreover, the funds in form of loans require payback after an agreed upon period of time. Those funds in form of grants and sponsorship don’t require payback. One can consult companies in charge of student loans to find out what type of fund they qualify and what is expected of them.





Disclosure:  This is a contributed post.

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