How can I manage my budget for studying abroad, including loans and savings?

To manage your budget for studying abroad, start by estimating your total costs and planning your funding sources.

- Calculate expenses: Include tuition, living costs, insurance, travel, books, and an emergency fund. Typical living expenses can be ₹6 - 15 lakh/year, but this varies by country and city (subject to change).
- Explore funding options: Consider scholarships, grants, and education loans. Indian banks offer loans for study abroad, with interest rates usually between 6.9% - 12%/year (subject to change).
- Track your spending: Use budgeting apps or spreadsheets to monitor expenses and adjust as needed.
- Save on daily costs: Choose shared or university housing, cook at home, use public transport, and take advantage of student discounts.
- Plan loan repayment: Understand your loan terms, including repayment schedule and interest, and set reminders to pay on time.

If you need help with budgeting or loan options, connect with your LeapScholar counsellor.