Cost Of Master’s Degree – The Japa epidemic is in full swing in Africa. Hundreds of thousands of young Africans on the continent are moving abroad for better economic opportunities. For many of these people, education is the easiest way to go abroad. And we’ve seen a global surge in educational tourism since the pandemic.
The growing popularity of educational tourism may suggest that it is a cheap route to pursue, but this is not the truth. While scholarships are sometimes accessible, foreign students often pay expensive tuition fees to study abroad; They often have to show that they can afford to live in new cities. How many young Africans are financing these costs?
Cost Of Master’s Degree
* Adeola, 24, a Nigerian studying for a master’s program in Canada, talks to us about self-funding her degree and the financial realities of studying abroad. “I plan to go abroad from 2020,” he told me. The more he thought about it, the more it became clear to him that school was the easy way out. “When I thought about it, the priorities were to further my education and leave Nigeria for greener pastures.”
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Deciding to study abroad is one thing, but the biggest consideration is financing it; In 2019/2020, the average tuition fee for international students was CA$17,744. That’s a lot of money for most people and Adeola says she applied for scholarships. “I tried to apply for internal scholarships, but most schools require you to be a current student on campus in good academic standing to receive financial aid.”
So Adeola applied to other foreign scholarship organizations and received many rejections. It became clear that he would need to finance his dream of studying abroad without any financial aid. For his tuition fees and living expenses, he was looking at a price of $26,000.
Adeola is still in the process of paying for his master’s progress and received a huge raise from his father who supported him in paying his first tuition fees. To balance his tuition, he told me, “Now I’m working two jobs with the best institutions in my city, so that’s where the money comes from.” His experience shows how difficult it is for self-funded Africans to raise the funds they need to study abroad.
What makes it doubly difficult is that many Africans have to go through rigorous master’s programs with long hours of work to survive abroad. “International students put in a lot of effort, and all my self-funded students inspire me a lot. Some even come with little or no money. But as long as they have good jobs, I’ve seen a lot of international students here.” Self-Supporting With this level of financial stress, why don’t international students take out loans to support their education?
Comparing The Cost Of Degrees Overseas
Overseas student loans are often only available to citizens of those countries. International students must turn to other sources for loans, and for many people, that means family and friends. “While researching in Nigeria, I noticed that it was difficult for students who plan to study abroad to get loans from banks. It is very difficult for those who borrow from family and friends. ”
Today, there are some startups that provide loans for international students with reasonable interest rates. But even with these beginnings in place, taking out a loan to study abroad can be a source of anxiety. According to Adeola, “The idea of loans worries me, I thought about doing it when I was still in Nigeria and I did some research, but I always knew I couldn’t do it and it was right for me. There was no action. I heard many success stories, but not everyone can handle the loan application process; it’s not simple.”
But in the end, despite the odds, Adeola has no regrets. “I’ll say it over and over again. I just pray for a steady flow of money, support and support from the fans.
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3 Nigerians tell us how expensive it is to study in the UK in 2022 – The Lemonade Stand
England is one of the best travel destinations but how expensive is studying in England? We asked five Nigerians. Among taught and trained professions alike, teaching is almost universally the lowest paid profession. Accounting for labor hours and out-of-pocket costs, this difference is potentially huge.
Teaching is already one of the lowest paying careers. The gap widens when teachers use their own money to cover classroom expenses.
How Many Years Is A Master’s Degree
This fact alone encourages many teachers to consider the value of obtaining a master’s degree for teachers. This is usually associated with higher salaries and better long-term career options.
But how much is a master’s worth to a teacher? Finding one is, of course, a huge investment of time and money. Is it worth the time to find out? Will it pay you back in the long run?
The short answer is: almost certainly yes. But it depends largely on where you teach—and for how long. While you should consider getting a master’s degree, many other factors come into play when it comes to your income and return on investment (ROI).
We wanted to analyze the expected ROI of getting a master’s degree for teachers (or MAT or MEd, in most cases) and help those considering the jump make their decision.
Is A Master’s Degree Worth It? 7 Questions To Ask
Our analysis of the value of a master’s degree for teachers was based on data from the National Center for Education Statistics’ 2014 report on elementary and secondary teacher salaries.
Taylor Hicks is the former director of marketing at College Raptor. He writes on topics related to college research, admissions and financial aid. He is always looking to tell great stories about students discovering their perfect school.
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