To address the elephant in the room, finances make up the last piece in your study abroad pie. Having stable funds will fuel your education abroad and will provide much needed psychological security too, so that you can focus on your academic and professional career better.
Let’s understand what liquid assets are first. Liquid assets are assets which you can liquidate any time depending upon the need of the time. Few examples would include
1. Permissible liquid assets
Students are required to show liquid assets for the first year of studies and for second year of studies property or other immovable assets could be shown. It is generally advisable to have 65% of your finds in liquid assets to the cost of your tuition and living expenses for 2 years.
2. Showing finances
The cost will vary as per different countries and nature of schools i.e. public or private. Public universities tend to have more funding given to them, so more assistantships and scholarships available for students.
Following is the bifurcation as per the country of selection for 2 years
3. Timeline for getting these documents:
Students need to pay their fees in advance for getting a confirmed admission letter. It is better to have these funds ready before 8 to 9 months of actually studying.
Although having your finances covered is not the initial worry, but having it sorted will certainly make your stay abroad worry less. AdmitAbroad’s specialized financial experts will help you with showing funds and arranging financial documents to make this process seamless for you.