Studying in the U.S. is a cherished dream not just for students, but also their parents. American colleges, with their incredible infrastructure, world-class research facilities and an excellent curriculum, have globally ranked at the top of the education system for many decades now. However, getting an education in U.S.A. is extremely expensive, especially if you have nowhere to live and need to make lodging arrangements alongside paying your tuition fee.
Thankfully, there are plenty of financing options available for students who are willing to work hard and go the extra mile to secure an outstanding future which is a guaranteed benefit of studying in a prestigious college in the U.S.
Financing options including scholarships, grants, and fellowships are mainly based on a student’s academic record through the years. Only the brightest and the most outstanding students are eligible for the best scholarships. Of these, most scholarships pay only a certain sum. Certain scholarships pay the tuition fees, while the student has to figure out their boarding arrangements on their own. Bajaj Allianz Life Insurance has top performing ULIP funds that enable you to build up a corpus for your child’s education by paying a monthly premium for as little as Rs. 3,000. Your child can withdraw from the fund at any time, without drawing more expenses for availing this functionality. In the event that you are not around to bear witness, the fund you set up will ensure that your child’s education needs are taken care of. In such cases, best child ULIP plans in India, available on Bajaj Finserv MARKETS, can come in handy. This child education plan can be set up either by the child’s parents or any guardian at a very low premium which upon maturity can be extremely helpful for securing the child’s future.
Read on below to learn about the 10 scholarships that anyone heading to the U.S. to study should know about:
1.Fulbright-Nehru Research Fellowship:
The Fulbright-Nehru Research Fellowship is open to students seeking to complete their Master’s in Arts and Culture Management including Environmental Science/Studies; Higher Education Administration; Public Administration; and a host of other subjects. This Fellowship is open to outstanding students dedicated to return and contribute to their communities. The other benefits include round-class economy airfare, funding for tuition and living and other related costs.
2.The Inlaks Shivdasani Foundation Scholarships:
This Scholarship is dedicated exclusively for students who have shown exceptional talent in their field of choice, except for Engineering, Business Studies, Medicine, Public Health, and some others. The scholarship is only up to USD 100,000 which make ULIP plans a very secure option to go for along with this scholarship. The child investment plan, available on Finserv MARKETS, will be especially useful alongside this scholarship since the Foundation does not cover candidates that are not fully funded.
3.Stanford Reliance Dhirubhai Fellowships for Indian Students:
Reliance Industries partnered with Stanford GBS to provide deserving students with the opportunity to study at the Stanford Graduate Business School. Only five Fellows are selected for this programme, and they are expected to work for Indian companies back home within two years of completing their programme. The scholarship amount is USD 150,000 total which is expected to cover tuition and associated fees.
4.The Hubert H. Humphrey Fellowship Programme:
This Fulbright programme is for young and mid-level career professionals to pursue a 10-month long non-degree graduate study across diverse fields like Agricultural and Rural Development; Communications/Journalism; Economic Development and several others. While the Fellows work at the Master’s level directly in relation to their field of work, they are not awarded with degrees for the same. Candidates applying for this Fellowship will be required to submit a valid TOEFL score.
5.Akhtarali H. Tobaccowala Fellowship:
Established in the memory of Akhtarali H. Tobaccowala, a 1952 graduate of Booth School, this Fellowship is open to only two students who receive a scholarship amount of USD 25,000 for tuition support at Booth’s full-time MBA programme. Having a scholarship to cover your tuition fees will take care of a substantial part of your expenditure in U.S.A., but that still leaves your boarding and other expenses to take care of. This is where the best unit linked insurance plan can come to your rescue. If your parents set up a child education plan for you, such as those available on Finserv MARKETS, you would have access to quite a handsome sum which would ensure that you are left wanting for nothing even as you pursue your dreams. Top performing funds can help you beat benchmark indices in terms of returns, allowing you to grow your investment corpus. ULIPs at Bajaj Allianz Life Insurance have the option for partial withdrawals, which ensures that any expenses you incur can be taken care of without you having to worry about paying extra to even access the fund. The best unit linked insurance plan will ensure you are left wanting for nothing while pursuing your dreams.
6.Rotary Foundation Ambassadorial Scholarship:
This grant has a minimum amount of USD 15,000 while the maximum amount is USD 30,000 and can be used to achieve high-impact and sustainable outcomes in six areas of focus which include peace and conflict resolution or prevention, maternal and child health, basic education and literacy, economic and community development, disease prevention and treatment. Activities must stem from the community’s needs and the global grants must be sponsored by two Rotary Clubs, namely the student’s host country and at the U.S.
7.The Indian Trust Fellowship:
This scholarship, open to two students, provides a grant of USD 10,000 as tuition fees for students pursuing a full-time MBA at Chicago’s Booth School of Business. Candidates working or living in India while applying to Booth School are eligible, but must prove academic excellence, leadership qualities and extracurricular achievements. Along with the scholarship, the best ULIP plan can aid your overall stay and experience.
8.Tata Scholarships for Cornell University:
The Tata Education and Development Trust has provided a $25 million endowment to Cornell University to offer financial aid to 20 underprivileged, deserving students from India who wish to pursue undergraduate courses at the college.
9.American University Emerging Global Leader Scholarship:
This scholarship, which covers all billable expenses like full tuition, room and board, is aimed to help high-performing students, who are active in civic and social activities, pursue a Bachelor’s degree in the U.S. The scholarship, which is given to just one student, is offered by the American University in Washington D.C. and is aimed at students who plan to improve the under-resourced and underserved communities back in their home country. Since this scholarship does not cover non-billable expenses like the cost of books or airfare, a child ULIP plan can be a great aid if your child gets this scholarship. Available on Finserv MARKETS, the child education plan will ensure your child’s comfort even as they are studying hard. Top performing funds at Bajaj Allianz enable you to create a healthy corpus for your child when they require it. Premiums are as low as Rs. 3,000 a month. Your child can make partial withdrawals any time they require, without you or them having to pay any additional charges on it; thereby ensuring that your child is comfortably able to follow their dreams without having to worry about running up a debt.
10.Asian Women in Business Scholarship Fund:
This is a special scholarship dedicated especially for female Asian students the chance to receive funding for an undergraduate business degree from a reputed U.S. university.
Apart from those listed above, a lot of Fellowships and scholarships are available for Indian students wishing to head to the U.S. to pursue higher studies. It is best for you to invest in a child plan, available on Finserv MARKETS, right away so that when the time comes for your child to leave the nest, they can do so in their full glory. Also read in detail about the ULIP tax benefits you can avail with a Bajaj Allianz Goal Assure or Future Gain plans available on Finserv Markets.
If you are planning to send your child to USA for higher education, you may want to read about the various student travel insurance plans offered at Finserv MARKETS.
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