This article is adapted from the QS Top Grad School Guide 2018/19. You can download the latest Top Grad School Guide, which includes advice on scholarship applications, for free\u0026nbsp;here.\r\nOne of the prevailing concerns for prospective students worldwide is funding. With many countries still seeing rising tuition fees, alongside cuts to government-funded financial aid, obtaining sufficient funding and managing debt are often the biggest obstacles facing students who wish to pursue further education.\r\nTo start with, the cost of graduate study can be overwhelming simply to work out. Depending on the location and your circumstances, you may need to account for some or all of the following: tuition fees, semester fees, student services fees, course material expenses, food, travel, accommodation, visa and health insurance costs, childcare and personal expenses. For some, there’s also the “opportunity cost” to calculate, meaning the cost of time spent taking a career break.\r\nThe good news? While costs are in many cases higher than ever, leading universities and national governments are focusing on ways to increase funding opportunities and their accessibility.\r\nSources of graduate funding\r\n\n \n \n \n \n \n \n \r\nIt’s advisable to start looking for graduate funding opportunities while or even before applying to universities, as the two processes often require very similar applications. In general, applications for funding need to be submitted by spring if you’re starting study in the fall of the same year.\r\nThere are many types of funding available for graduate students: merit-based, need-based, need-blind, university-specific, course-specific, subject-specific, career-specific, demographic-specific, country-specific, ability-specific and non-specific… The following is a breakdown of the most common types of graduate funding available around the world.\r\nHome- and host-country governments\r\nFor funding opportunities, the first places to check are the Ministry/Department of Education in your home and host countries. International students may not be eligible for all government funding schemes in the host country, so it’s important to thoroughly check opportunities in your home country first.\r\nTypical government-funded aid includes sponsorships, loans, grants, scholarships (also known as studentships in the UK when referring to PhD students) and bursaries, each with distinct rules regarding eligibility, deadlines, application procedures and amount of funding awarded.\r\nUniversities and higher education institutions (HEIs)\r\nMany universities and other HEIs offer some sort of financial aid for international students, be it fellowships, scholarships, grants, awards or bursaries. These are distributed on the basis of need, academic merit, or both. Funding information is usually available online – check the scholarship or international section of the university website.\r\nApply to as many schemes as possible but remember to check the criteria carefully to ensure you fit the requirements. Make sure to highlight your strengths and any exceptional achievements. Those applying for graduate study should also draw attention to any research projects, academic events, papers or conferences to which they have contributed, as well as discussing future research plans.\r\nScholarships\r\nScholarships are prestigious, highly coveted and usually the hardest form of financial aid to secure. They don’t need to be repaid and cover the full or partial costs of tuition, sometimes along with a portion of living costs. Scholarships are usually based solely on academic merit, although there are also many specialized scholarships which are targeted at students with certain backgrounds, interests, skills or ambitions. For example, sporting scholarships for the athletically gifted are particularly common in the US, and you don’t have to be on a sports-related course to apply. Discover scholarships by country and subject here.\r\nTeaching and research assistantships\r\nAssistantships (also known as studentships in the US) provide funding for postgraduate students in exchange for time spent working in a teaching or research role. They may be funded by the university department or your supervisor’s research budget, or by an external funding body with vested interests in a particular field of development. Rarely offered for professional degrees such as the JD, MBA or MD, often a requirement for PhD programs, and particularly common in STEM subjects, assistantships are cost-effective for the university and provide valuable teaching and/or research experience for the student.\r\nStudents with an assistantship are obliged to carry out specified teaching and/or research activities, stipulated in a contract. In return, you’ll typically receive a modest salary and/or a waiver of your tuition fees. Some universities may also provide funding for field trips and conference participation. When working in this capacity, make sure to remain within the constraints of your student visa, which may specify some employment restrictions.\r\nCharities, trusts, learned societies and special interest groups\r\nCharities, trusts, learned societies and special interest groups often dedicate a portion of their budget to fund graduate studies. While some organizations target specific and niche demographics, many focus on students from lower income backgrounds, those experiencing particular financial difficulty, and/or those with demonstrable academic excellence. Usually awards are made for a year at a time, with renewal possible, and students can secure backing from multiple organizations.\r\nWhen applying for funding, focus on anything that makes you particularly distinctive. Points to highlight include: the relevance and potential future applications of your research; any ways in which your interests and/or background align with those of the funding organization; any disadvantages or challenges you’ve faced, along with your drive to succeed and potential to do so.\r\nEmployer contributions\r\nIf you’re starting your postgraduate studies after a period of work, you may be able to persuade your employer to sponsor your education. Most companies are supportive of staff training and development and may even have a budget set aside for the personal and professional development (PPD) of their employees. Professionals requiring further education to become fully qualified include accountants, architects, engineers, social workers, lawyers and teachers.\r\nEmployers will be more receptive to your request if you show your aim is to improve your ability in the workplace, advance your career prospects, and/or aid your long-term development within the company, rather than simply indulging your own academic or personal interests. If you do use this route, you may need to sign an agreement which will tie you to the company for a specified period after graduation (usually one to two years).\r\nStudent and professional development loans\r\nDedicated student loans typically have lower repayment rates than regular loans. While common in North America for graduate studies, they are harder to obtain in countries like the UK, which concentrate on providing student loans mainly at undergraduate level. However, a possible alternative is a professional development loan. In the UK, banks offer Professional and Career Development Loans (PCDLs) for students who intend to work in the UK, EU, Norway, Liechtenstein or Iceland upon graduation. The loan funds up to two years of study, covers course fees and some living costs, and has more flexible repayment terms than a regular bank loan.\r\nNational research councils\r\nNational research councils (RCs) are often the main public-sector distributors of investment in research, including that conducted by postgraduate students. In the UK, there are seven RCs offering competitively sought-after graduate funding covering a wide range of disciplines. Elsewhere, similar investors include the European Research Council for EU countries, the National Research Councils in the US and Canada, the various institutes within the National Center for Scientific Research (CNRS) in France, the Australian Research Council (ARC), and the German Research Foundation (DFG).\r\nEligibility criteria usually stipulate residency within the country where the council is based, a good bachelor’s degree and/or relevant work experience. Funding may provide partial or full fee coverage, along with a cost of living grant (known as a stipend), which is usually tax-free. Competition is intense, but highly specialized subjects typically have fewer applicants. You will usually need to apply via the university, rather than directly to the council.\r\nAlternative graduate funding options\r\n\n \n \n \n \n \n \n \r\nWhile graduate funding options are plentiful, they are greatly outweighed by the number of students vying for those opportunities. In addition to the fierce competition involved, these traditional funding routes are also not guaranteed to cover the full costs of graduate study – so creative candidates may consider some alternative avenues:\r\nPeer-to-peer lending\r\nA form of crowdsourcing whereby private loans are given to individuals without the mediation of an official financial institution, peer-to-peer (P2P) or social lending provides funding for a variety of endeavors. Specialized online platforms are often used, with some (such as GraduRates.com and StudentFunder.com) focusing on the student market.\r\nWhile the lending is unsecured and you may need a solid credit history, P2P lending is more flexible in terms of repayment and interest rates for the borrower, while lenders have the opportunity to invest in a project or career they believe in. It can also provide a more formalized structure when lending among families and friends – turning a favor into a business transaction.\r\nPortfolio funding\r\nPortfolio funding involves securing small amounts of money from multiple sources. This can mean applying for all the types of funding mentioned in this article or sending dedicated letters to a range of sources simultaneously. For this, students prepare a fundraising pack, with a letter asking for help in funding their degree. The letter explains who they are, what they want to study and why, what they will give back (either to the individual they address, or society as a whole) and how to donate.\r\nStudent jobs\r\nIf you intend to use a student job to supplement your finances, remember that each country has its own rules about whether, where and how international students can work. Typical restrictions include limited working hours during term-time, and rules about whether you can work off-campus or need to stick to jobs within the university. For example, international students in Canada must obtain the Off-Campus Work Permit (OCWP).\r\nMost campuses offer many opportunities for part-time work, including working in a shop or café, in the student union, as an organizer or helper at university events, in an administrative role, or as a student tutor or advisor. You could also consider freelance work as a tutor, capitalizing on skills in fields such as languages, sports, arts or music.\r\nPart-time study\r\nYou might also consider enrolling for part-time study, which will mean your tuition fees are spread out over a longer period, while you have more time to work alongside your course commitments. If this is your plan, make sure you have a realistic balance between work and studies. If you do find yourself struggling to cope, your university’s student support team may be able to direct you towards funding opportunities that have opened up since the commencement of the academic year, or at the very least, help you find a better balance or schedule.\r\nGraduate funding around the world\r\n\n \n \n \n \n \n \n \r\nHaving explored the different avenues available to international graduate students, here are some specific graduate funding resources for six of the most popular destinations:\r\nFunding for graduate study in Australia\r\n\r\nAustralian government’s Endeavour Scholarships and Fellowships\r\nAustralia Awards, via the AusAID program for students from developing countries\r\nMerit-based international scholarships from individual universities, such as the Adelaide Graduate Research Scholarships (University of Adelaide) and International Postgraduate Research Scholarships (University of Western Australia)\r\nMore scholarships to study in Australia…\r\n\r\nFunding for graduate study in Canada\r\n\r\nGovernment website provides a listing of international scholarships, including the Vanier Canada Graduate Scholarships\r\nForeign Affairs, Trade and Development Canada (DFATD) offers scholarships for international students, while the Association of Universities and Colleges of Canada (AUCC) offers scholarships for Canadian citizens\r\nCompetitive graduate scholarships from Canada’s Research Councils (such as NSERC, CIHR, SSHRC, CIFAR)\r\nMore scholarships to study in Canada…\r\n\r\nFunding for graduate study in France\r\n\r\nBursaries via the Centre National des Œuvres Universitaires et Scolaires\u0026nbsp;(CNOUS) and the Centres Régionaux des Œuvres Universitaires (CROUS)\r\nRegional scholarships from the website of the Conseil Régional in which your university is based\r\nEiffel Scholarships for international master’s and PhD students from the French Ministry of Foreign Affairs (MESR)\r\nGraduate scholarships from the Agence Universitaire de la Francophonie (AUF)\r\nPhD students can apply for Industrial Conventions Research Training (CIFRE) funding\r\nFrench government bursaries via French embassies in some countries.\r\nMore scholarships to study in Europe…\r\n\r\nFunding for graduate study in Germany\r\n\r\nThe German Academic Exchange Service (DAAD) is the world’s largest funding organization for international students and offers an online scholarships database\r\nFunding organizations such as the Alexander von Humboldt Foundation for PhD students and the Heinrich Böll Foundation\r\nKatholischer Akademischer Ausländer-Dienst (KAAD) scholarships offered for students from developing countries\r\nSome federal grants and loans are available (some only in cases of hardship)\r\nMore scholarships to study in Germany…\r\n\r\nFunding for graduate study in the UK\r\n\r\nUK government offers tuition fee loans for graduate-level students on accelerated medical/dental programs and special funding for trainee teachers (PCGE or ITT)\r\nOpportunities for funding from the seven government-funded Research Councils: AHRC, BBSRC, EPSRC, ESRC, MRC, NERC, STFC\r\nScientific studentships from organizations and charities such as Cancer Research UK, Institute of Cancer Research (ICR) and the Wellcome Trust\r\nFunding via the British Council, including Erasmus grants and the UK 9/11 Scholarship Fund for surviving victims of the 9/11 attacks\r\nThe Fulbright Commission offers Postgraduate Student Awards for postgraduate studies at any accredited UK university (for US students only)\r\nThe Knowledge Transfer Partnership (KTP) scheme helps provide funding for professional qualifications\r\nOther international schemes include the Chevening Scholarships, the Commonwealth Shared Scholarship Scheme and Marshall Scholarship (for US students only)]\r\nMore scholarships to study in the UK…\r\n\r\nFunding for graduate study in the US\r\n\r\nThe Institute of International Education (IIE) provides a database of scholarships\r\nThe Fulbright Commission offers Postgraduate Student Awards for postgraduate studies at any accredited US university (for UK students only) and Scholar Awards for UK professionals doing academic work in the US\r\nResearch grants from government agencies such as the National Science Foundation\r\nAnnual funding directory published by Palgrave Macmillan, called The Grants Register\r\nIndividual scholarships offered by universities or states, such as the Kennedy Scholarships for Harvard and MIT and the Frank Knox Fellowships for students from the UK, Australia, Canada or New Zealand to study at Harvard\r\nThe American Association of University Women (AAUW) provides international fellowships for women to study in the US\r\nPEO International offers scholarships for women to study in the US or Canada\r\nThe Hellenic Times Scholarship Fund for Greek students to study in the US\r\nMore scholarships to study in the US…\r\n\r\nInternational graduate funding\r\n\r\nCouncil on International Educational Exchange (CIEE) funding includes the Global Access Initiative (GAIN) and PING Scholarships\r\nThe Leverhulme Trust offers international postgraduate studentships\r\nScholarships from the Organization of American States (OAS), including the OAS Special Caribbean Scholarships Program (SPECAF)\r\nThe EU’s Erasmus+ program includes a range of international funding opportunities\r\nOnline database of EU scholarships via the PLOTEUS project\r\nThe European Commission (EC) offers Intra-European Fellowships, International Incoming Fellowships and Initial Training Networks (ITN) for researchers in Europe\r\nCommonwealth Scholarships and Fellowship Plan (CSFP) for Commonwealth countries\r\nMore scholarships for international study…\r\n\r\nGet personal grad school advice\r\nThe QS World Grad School Tour - coming soon to a city near you - is your chance to meet admissions directors of grad schools around the world. You\u0027ll also be able to attend free seminars, pick up a copy of the QS Top Grad School Guide, and be eligible to apply for funding through the QS Scholarships scheme.\r\nThis article was originally written in January 2015 and was updated in November 2019. \r\nWant more content like this? Register for free site membership to get regular updates and your own personal content feed.