Studying abroad opens the doors to multiple opportunities. An international degree will not only help you grow academically and personally, but also financially. In fact, you can start earning even before you get your degree. This is possible through an internship while you are studying abroad.
Here are some things to know about interning when studying abroad:
1. Enjoy a host of benefits: Interning while studying comes with several benefits. Apart from getting first-hand experience of the corporate world, you get an opportunity to develop your interpersonal as well as inter-cultural skills. Moreover, it gives you a starting point to grow your network which would help you advance in your career. Also, if your internship is paid, you will always have some extra funds at your disposal to take care of your student expenses.
To ensure you pay these regular monthly expenses on time, use Flywire’s money transfer services which are specially designed for international students. Be it making tuition payments to your foreign university directly or initiating a bank transfer from India to the UK, the US, Australia, or any other network country, you can do everything conveniently without burning a hole in your pocket, thanks to Flywire’s affordable services.
2. Research well in advance: Do your homework on internship opportunities in the country you are going to study in. Several universities have tie-ups with companies that hire interns. Check if your study program is integrated with internship or mandatory placements. You can leverage platforms such as LinkedIn, Monster, and Glassdoor to narrow down your choices. Like, if you are going to study in the UK, find out about sandwich courses that accommodate a year-long placement within the four-year duration of the course.
3. Apply for the internship mindfully: It is always good to approach a few right-fit companies instead of applying randomly. Once you have a crisp list of companies you intend to intern with, apply to them with a carefully written cover letter and curriculum vitae. For your application to be successful, you must also be mindful of the application deadlines.
4. Be informed of visa regulations: You may need a specific visa to study and intern abroad depending on your home country and host country. Check the visa requirements in your host country in advance to avoid any hurdles later. For example, if you are an Indian student planning to study in the U.S., you will need an F1-Visa. Since internships also fall under the category of Curricular Practical Training, your visa will allow you to work up to 20 hours per week during semesters and up to 40 hours per week during breaks.
5. Plan your finances in advance: Paid internships may not suffice to manage your expenses when living in a foreign country. As a rule of thumb, you can expect to earn a stipend of around 20-40% of an entry-level graduate’s salary. Thus, it is better to plan your finances well to avoid any money crunch while studying abroad.
Being a student and an intern at the same time offers a lot of benefits. To make the most of this experience, you must plan well and be meticulous in your actions. Many Indian students abroad find interning while studying a good way of meeting some of their education-related expenses as well as other living expenses without being too dependent on their families. If you too plan to study in the US/Canada/UK/Australia or similar study destinations, you can follow these tips and manage your living expenses well. And of course, you can always rely on Flywire’s Student Services to get your living expenses from home as well.