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Top 5 Government Funded Scholarships for International Students

For many international students, government funding in the form of grants, bursaries and scholarships is the only way they can pursue their dream of studying abroad. So before you apply to your dream university overseas, find out what types of funding are available to you. Here are our top 5 government-funded scholarships for international students 2021/22.

Chevening Scholarships (UK)

Starting in 1983, Chevening has provided scholarships and fellowships to more than 50,000 people from around the world. Their aim is to provide outstanding scholars with the opportunity to study a one-year masters degree qualification at any UK university. 

What’s included?

  • Payment of tuition fees
  • Economy travel (flights) to and from your country of residence 
  • An arrival allowance
  • The cost of an entry clearance (visa) application 
  • A departure allowance
  • A contribution of up to £75 for TB testing, where is required
  • A travel top-up allowance
  • A monthly personal living allowance (stipend) to cover accommodation and living expenses. The monthly stipend will depend on whether you are studying inside or outside London. These rates are subject to annual review.

Applications open in August and close in November each year. If successful, you will be asked to attend an interview in June and be given an offer in July. Studies will start soon after in September/ October. Find out more.

Australia Awards Scholarships

Australia is one of the best destinations for international students. It has a high standard of higher education, multicultural and welcoming student communities and some of the “most liveable” cities in the world (The Global Liveability Index 2021). 

Each year, Australia Awards Scholarships provides students from participating countries with full-time undergraduate and postgraduate study opportunities. To be eligible, you must live in Asia, the Pacific, Africa or the Middle East. A full list of participating countries can be found here.

What’s included?

  • Full tuition fees
  • Return air travel to and from Australia
  • Contribution towards accommodation expenses, textbooks and study materials
  • Contribution to Living Expenses (CLE) 
  • Overseas Student Health Cover (OSHC)
  • Pre-course English (PCE) fees

Application opening and closing dates depend on your country of residence. Find a full list here. Find out more.

Fulbright Foreign Students Program (USA)

The Fulbright Foreign Student Program provides international students with the opportunity to study at a master’s or PhD level in America. Approximately 4,000 students receive these scholarships each year. Like other government-funded scholarships, Fulbright scholars are required to return to their home country after studying. Find out more.

Applications are processed by bi-nation Fulbright Commissions or U.S Embassies so foreign students must apply through the Embassies in their home countries. A full list of these countries and bodies can be found here

What’s included?

  • Tuition fees 
  • Living expenses 
  • Return economy flights 
  • Health insurance 

Erasmus Mundus Scholarships (EU)

The Erasmus Programme is an international student exchange programme, established in 1987. It’s a well known and supported scheme funded by the European Union. There are a wide range of opportunities available with Erasmus, including:

Each program has a different set of key selection criteria which are available in the Erasmus+ Programme Guide. Make sure you read through the guide carefully and allow enough time to prepare your application. 

What’s included?

  • Full tuition fees 
  • Monthly stipend for living expenses 
  • Participant costs 
  • Travel 
  • Health insurance  

Open and close dates for applications depend on each program. Find out more.

New Zealand Aid Programme Scholarships

New Zealand offers a wide range of scholarships for international students looking to study at bachelors, masters or PhD level. These scholarships are fully-funded and for students living in commonwealth countries.

These scholarships give international students a chance to improve their knowledge and help their country of origin to grow its talents. Priority will be given to students looking to study subjects that are most relevant to the developmental needs of their home country. 

What’s included?

  • Full tuition fees and a living allowance (NZ$491 per week)
  • An establishment allowance (NZ$3000)
  • Medical insurance when you are in New Zealand
  • Travel to and from your own country
  • Travel insurance

Applications close in Feb/March each year. Find out more.

Top 5 Student-Friendly Cities in The World

You’ve chosen the subject you want to pursue. You have a good idea of what job title you want to nail after graduation. You’ve always dreamed of living and learning in a different country. All that’s left now is to pick the city you want to study next.

Here’s a list of the top 5 student-friendly cities in the world. Each can offer you valuable study opportunities, career options and unforgettable life experiences.

1. London, UK

Why study in London?

In London, you’ll find some of the best universities and colleges in the world, with Imperial College London and University College London ranked in the world’s top 10 (QS Top Universities 2021). When you’re not busy studying and you want to unwind during term time, you can explore London’s top attractions such as the London Eye, St Paul’s Cathedral, The Shard’s observation deck and discover London’s history at the London Dungeons. 

2. Montréal, Canada

Why study in Montréal?

As soon as you arrive, friendly locals will greet you with warmth all year-round – yes, even if it’s winter! Regardless of the climate you’ve been used to in your home country, Montréal will open a whole new world for you, where the beauty of winter will be the main character. No matter if you travel to Canada for a one-month study abroad experience or to study for a three-year Bachelor’s degree, you must definitely try out ice skating at least once and all the festive markets held in Vieux-Montréal.

3. Berlin, Germany

Why study in Berlin?

Regarded as one of the coolest urban hubs of Europe, Berlin promises students an unforgettable living and learning experience at decent prices. The low cost of living combined with a colourful nightlife transforms Berlin into one of the most welcoming cities for international students. It offers endless travelling opportunities in every direction. So, why not wake up early on a Saturday, rent a car and drive around Europe with your new uni friends.

4. Sydney, Australia

Why study in Sydney?

With exhaustive English-language programmes for non-English speakers and home to some of the best universities in Australia, Sydney is the dream city for every international student. The best part of coming here is that with the student visa, you are also granted permission to work up to 40 hours every two weeks. And that applies throughout your whole academic year! With an amazing climate, iconic landscapes and, not to mention, Sydney’s Taronga Zoo daily Koala Encounter sessions, Sydney will quickly become a holiday resort for your studies.

5. Seoul, South Korea

Why study in Seoul?

Who could say no to a global city with a 24/7 vibe, ranked one of the best in the world for employer activity? Plus, the quality of education in Seoul is beyond exceptional. This comes at a very decent price since everything from accommodation to food is very cheap. The modern skyscrapers, Buddhist temples and countless food markets prove that Seoul is a must-see city. And what better way of discovering it if not by living and studying there? Visit The Trickeye Museum, Lotte World, and Everland (South Korea’s largest outdoor theme park).

So, where are you heading to next?

Top 10 Most Popular Countries for International Students 2020

So you want to go to university, but you’re not sure where. Don’t worry, we’ve got you. You’ll be pleased to know that living and learning in a different country can bring SO many benefits, personal and professional. According to Statista, these are the top study destinations for international students in 2020. Are any of these on your list?

1. United States – 1,075,496 International Students

From New York to LA, Florida to Seattle, America is one of the most expansive and diverse countries in the entire world. It is home to some of the very best universities. Though the cost of studying and living in America can be tear-jerkingly high, the freedom to explore and the sheer quality of the courses is surely worth it.

2. United Kingdom – 551,495 International Students

The United Kingdom is known for having some of the best universities in the world and boasts a strong employability rate. Though tuition fees are high, the courses are only three years (as opposed to four like the USA). The UK has a fantastically rich history and is one of the most diverse countries in the whole of the world. Plus, it is the home of the English language, giving you the perfect opportunity to hone your language skills.

3. Canada – 503,270 International Students

In Canada, you can polish up your English skills as well as your French, as these are the two leading languages. Canada is often voted as one of the top countries for the quality of life and happiness of its citizens and it also has a low crime rate. It proudly boasts some of the very best Universities in the world.

4. Australia – 463,643 International Students

Australia is always one of the top destinations for International Students. It has low living and tuition costs, and Australian universities often offer scholarships that help to lower prices even further. They also allow students to work up to 40 hours a week with their student visas. Australia has beautiful landscapes, great weather, lovely beaches and big party culture. It is always very popular with students.

5. France – 358,000 International Students

France is one of those countries where you can go skiing in the morning, and then have a vineyard tour at sunset. It is so vast and has so many fantastic regions, each with its own identity and culture. The education costs are very reasonable compared to other top destinations, and it is the home of some of the world’s largest corporate brands.

6. Russia – 353,331 International Students

Russia values education very highly, and around 54% of its population have or are studying degrees. The country is so large that there is so much to explore. One half of Russia is very European, whilst the other has strong Asian influences. Russia is a very modern country, however, its values are traditional and so this mix is otherworldly. It is becoming more and more popular over the years and is definitely one to consider.

7. Germany – 302,157 International Students

Germany has a wide selection of highly ranked Universities and promises strong employability. German universities offer a lot of degrees at a low, or sometimes no, cost! It has a long and rich cultural heritage, a fantastic art scene and unmatched nightlife.

8. Japan – 228,403 International Students

Japan has always been a popular destination with students. It is often seen as the epicentre of technological innovation, and so is popular with students interested in science and technology. Japan has one of the lowest crime rates in the world and the health service is very inexpensive, and so it is pretty safe there. The food is amazing, the culture is so interesting, and the landscape is endless.

9. Spain – 125,675 International Students

Spain is becoming an increasingly popular destination for international students to choose to study in for many reasons. One is that the education system is very well-organised and straightforward. Another is that the cost of living in Spain is cheaper than most of its European counterparts. A key reason is also the beautiful year-round weather, which goes perfectly with the gorgeous Spanish beaches. Spain has a lot of rich history to explore, and a huge party culture so there is something there for everyone!

10. Netherlands – 94,236 International Students

Studying in the Netherlands is fast becoming a popular choice with students from all over the world. It boasts a very high standard of education and a lot of degrees are taught 100% in English, making it very popular with students from the UK and USA. The Netherlands is a very safe place to live and learn, with a big international student community and good employability rates.

 

Why Study Accounting and Finance in the UK? – BAFA Collaboration

Why study accounting and finance in the UK in today’s global economic environment?

The number of international students studying accounting and finance in the UK has increased dramatically in recent years.

The UK is recognised as a global financial centre. By coming to the UK, you will be studying accountancy and finance in a rich, culturally diverse community. British universities are recognised as having international excellence in both teaching and research.

The UK hosts strong accounting and finances professional bodies, which lead the world in terms of the development of accounting standards. English is the language of business and so studying in the UK will equip students with relevant business language skills.

Universities across the UK offer accounting and finance courses at both undergraduate and postgraduate levels. Doctoral studies in accounting and finance are also available at many of the UK’s universities.

Employability

The attraction is also closely related to excellent employment opportunities in accounting and finance. The requirement for accounting and finance skills grows as the economic climate becomes more difficult. Accounting and finance students will go on to be employed in professional firms, corporate finance and investment jobs in the City, as

  • Accountants and finance directors in large corporates
  • Accountants and finance managers in public and third sector organisations
  • Senior executives and directors across a whole range of organisations

Skills taught in both undergraduate and postgraduate courses enable students to become leaders and managers in global organisations given the complex requirements of managing across international boundaries. Degree programmes taught in the UK embrace a diverse range of approaches to the study of accounting and finance. That enables students to fully appreciate the social context in which accounting operates.

Exemptions from professional accountancy bodies

Having studied at degree level, students can then go on to gain exemptions from professional accountancy bodies.

  • ACCA
  • ICAEW
  • CIMA
  • CIPFA
  • and ICAS

all provide exemptions at different levels of their professional qualifications dependent on the specifics of the degree course undertaken by a student.

These are globally recognised professional qualifications and you will find employees with these qualifications working in organisations across the complete range of continents.

Placements

At many UK universities, placements are incorporated into the degree programmes and these can count as part of the work requirements for professional body membership requirements. Work-based placements provide an opportunity for both students and employers to better understand each other in terms of the requirements of the job and the skills possessed by individuals. Many degree courses, particularly at postgraduate level, incorporate projects that engage students in working with both large and smaller organisations.

Skillset

Given the vocational nature of degree programmes, employability skills alongside critical and analytical academic skills form a very important part of the student experience. In UK universities, students engage in real-world scenarios and decision-making activities linked, for example, to stock exchange trading floors and company boardroom challenges.

This brief review will hopefully encourage you to come and study accounting and finance in the UK. All of my colleagues across the broad range of UK universities will give you a very warm welcome and an exciting academic experience.

Written by Professor John Cullen
Chair of the Committee of Accounting and Finance (CDAF)
British Accounting and Finance Association

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