If you wish to pursue your education abroad, it is important to consider budget for tuition costs, costs of living and all associated expenses. If you’re on a budget, countries with high living costs should not be considered even if the tuition costs of schools are low. 

Here are 5 suitable countries to consider for individuals interested in obtaining good degrees in foreign schools while on a budget.

Malaysia

According to Vanguard News, about 13000 Nigerian students study in Malaysian universities.  It’s a study destination for Nigerians due to its low cost of living, relatively low tuition fees and global recognition of academic qualification. There is also the occasional scholarship to international students.

Tuition fees will probably set you back anywhere between 3500 Euros to 5000 Euros per year. Costs of living will most likely be anywhere between 350 Euros to 500 Euros per month.

Hungary

Hungary according to a UNESCO survey is gradually becoming a destination country for foreign education. Three quarters of  international students in Hungary come from just ten countries. Nigeria is among these ten countries. 

International students will have to pay tuition fees which usually range between 1000-3000 Euros every academic year. Also, they may need to pay registration fees which range between 40-700 Euros depending on the course chosen by a student. Cost of living in Hungary is approximately 450-500 Euros per month.

Germany

The country’s higher education system has a strong reputation and, most importantly, tuition is FREE of charge generally for many undergrad and Masters courses. 

All you have to pay is a fee of around €100 (£75) to €250 (£185) per semester, which covers administration costs as well as the work of the student union.

Life in Germany is relatively cheap compared to other countries, too. The German Academic Exchange Service recommends a monthly budget of around €800 (£595) to cover expenses, which is enough to enjoy your stay without having to pinch pennies.

Portugal

Portugal has many beautiful and interesting features that make international students simply fall in love with this country once they come here for their study experience. For one thing, you enjoy amazing weather, beautiful beaches and landscapes, lovely cuisine and fine wines.

Secondly, Portugal is one of the cheapest countries in Europe, with low living costs, and Portuguese universities offer numerous quality study programmes while charging affordable tuition fees.

Tuition fees for bachelor’s and master’s degrees average around 950-1,250 Euros per year. Cost of living is approximately 800 Euros although this can vary depending on lifestyle.

Luxembourg

Although it is one of the tiniest countries in the world, Luxembourg offers a splendidly cosmopolitan environment and a home to plenty of top-ranked universities.

Luxembourg is also one of the safest nations in the world; and, due to its multiculturalism, any foreign student can easily adapt to the vibrant and lively atmosphere of Luxembourg.

Tuition fees will depend on what type of course you choose to study and at what level. On average, you should expect to pay between €400 and €800 per year. For business-related studies, tuition fees are around €4,000-€5,000 per year. Cost of living is approximately 300-450 Euros.

An entrepreneur with an existing business or a promising business idea that requires funding can access funding due to following reasons:

1. Government interventions: Governments support local entrepreneurs because they are key drivers of any economy. Local entrepreneurs create jobs, generate revenue for government by paying taxes, and contribute to national GDP.
2. Profit: The purpose of every investor, bank, venture capital and private equity firm is to invest for profit. If no investment is made, there will be no profit.
3. Foreign policy: Annually,  the international development organizations of developed nations spend huge amounts to fund promising ideas, projects and initiatives all over the world. 
4. Social impact: Numerous NGOs, Corporate organizations and philanthropists invest actively in entrepreneurs every year. The funds they invest are usually given as grants, prize money and donations as part of an organization’s corporate social responsibility, societal impact efforts or for enhanced public perception.
5. Innovation race: Every year, multinational organizations spend billions on programs that allow them to identify and nurture top talents, discover disruptive business ideas that could change industry landscape.

To be able to access funding on the above listed basis, you have to align your business to appeal to the motivations of these fund providing organizations. Do your due diligence. Look out for any of the funding organizations that best suits you and put your best feet forward.