Obtaining higher learning has been an ambition for so many people. Higher education can lead to many benefits, including a prosperous career and financial security. In the 21st century, education plays an even more significant role in other aspects of our life. Attaining a higher education can increase your opportunities and improve your overall quality of life.

There are several reasons that can hinder you from attaining higher education. One of them is a lack of financial support. Lack of financial support has been an impediment for some people in acquiring higher learning. The unavailability of finance is considered one of the biggest hurdles in education as some of the courses and the schools are quite expensive.

However, for anyone determined to gain more knowledge and certifications for career advancement and personal developments, there are ways to get funded. Here are ways to go about it.

Be on the sentinel for scholarship openings

There is still a way to make your dream come through, especially for anyone that has no financial means to further their education. Getting a scholarship is the best way to go about it. Studies show that there are over 500 Nigeria scholarship opportunities for undergraduates, Masters, and PhD for students in Nigeria to study at home or abroad. Though scholarship as a form of financial aid is awarded to only eligible students and applicants. There are various types of scholarships and ways in which they are awarded by various organizations and individuals. Some of the common types of scholarships are merited-based scholarships, sports scholarships, and specific scholarships.

Go for Student Loan

Going for a student loan is another way to pay for your tuition. it is designed to aid students to pay for their education. This loan differs from other kinds of loans in the sense that the interest rate is relatively lower, and the repayment schedule is much more flexible. Funding education should not be a colossal task and students should have a range of options available for accessing quick loans in Nigeria. The first thing to do is to be on the lookout for platforms granting loans for school fees and ensure that you meet all their requirements. Some of the banks are Access Bank student loan, GTbank student loan, Firstbank Firstedu loan, and Federal Government Education loan,

Set up a Crowdfunding Account

Crowdfunding is another way to seek financial support. You set a crowdfunding account up, then seek help from your family and friends to support you. You can also start a campaign to raise donations on your account. In Nigeria education is the easiest way for someone within the middle and lower class to have a better life and although the cost of education is high, especially for someone that wants to move to abroad to study.

With crowdfunding, friends, family members, church members, and strangers could support with donations to go to school. The common crowdfunding platforms include GoFundMe, IndieGoGo, Donate ng, MicroVentures, CircleUp, and NaijaFund.

Make use of Employer Training Opportunities

The success of any business, whether in the private or public sectors, lies mainly in the quality of its human resources. research confirmed that training of manpower is a major prerequisite for any organization that wants to achieve maximum productivity through the efficient and effective performance of the employee. In some organizations, there are some opportunities open to staff who wish to further their studies either at masters or postgraduate level but do not have money to do that. Organizations see this as the best way of upskilling their workers.

They invest in their education too, after which they come and work for them again. However, if you are opportune to be in such an organization it is imperative that you make use of the opportunity.

Combining your Work and Education

While you study, you can also work by taking up part-time jobs and internships to save up funds for your education. Studying while you work is one of the most encouraging sources of financial aid, as you do not have to struggle to get scholarships or grants and do not have to pay back student loans. When looking for a job in school, you should try to find a job that is flexible and does not require you to work late hours, and above all offers a decent wage.

Also, It is an added advantage if your job allows you to learn about a field you are interested in or studying in school. Some of the jobs you can do while in school include Appling for a paid internship in your field, drive for Uber or bolt, Tutor in a subject you excel in, and apply for a Freelancing job.

Start a Business

You can start a business while you study, this can be done online to enable you to study will or physically. You can start small and be very economical about the business. Remember that the aim is to make money as fast as possible to finance your studies. So, therefore, try to start a business that will bring in quick cash for you in the short term. some of the business to go into are Web Designer, Graphic Designer, Freelance Writer, and Online Advertising, Specialist

Save Towards Paying for your Tuition

If you have a steady 8 -5 job that pays you every month, you can plan to save for your higher education. A budget is another way to enable you to stick to your savings goal. You can decide to save a specific amount of money every month for a particular period.

In conclusion, gaining higher learning is very important especially for anyone that is aiming for a higher position, self-development, and career advancement. Though funding can be a major barrier to actualizing that goal, with the funding options listed above that aim can be achievable.

In the financial world, the interest rate plays a huge role in any financial transaction. Interest rate is the proportion of money a borrower pays for an asset or any form of debt. It is the return or interest paid to the financial service provider.

In Nigeria, interest rates are by financial institutions and the Monetary Policy Committee (MPC) assigned by the federal government to keep interest rates at a moderate and stable price level for proper economic growth.

When it comes to interest rates, either increasing rates or declining rates, the economy gets influenced in many ways. Rates of interest ascertain economic performance. Lower interest rates are a sign of a slow or poor economy as interest rates are changed to enable cash flow.

Higher interest rates are, in turn, viewed as an indicator of a healthy economy with favorable cash flow. Interest rates can slow down or improve an economy. It is necessary to examine the various aspects of our financial life influenced in different rate scenarios to understand how interest rates impact our wallets;

Some ways interest rate can impact your finance are:

Saving Culture

Many factors influence how an individual saves, but a decline in interest rates tends to discourage saving because the reward is affected. A higher interest rate makes it attractive to save money as it enhances increased return. Thus, a change in interest rates influences an individual saving, which is an essential part of financial planning.

Loans

How you will be affected by a change in interest rate depends on if you are inclined to borrowing or investing. Because the interest placed on loans will be less, lower interest rates offer more opportunities to borrow or acquire cheaper loans, which means it favours the borrowers. People are discouraged from getting loans to invest in their businesses because a higher interest rate translates to a higher borrowing cost.

Expenses

Lower interest rates allow companies to acquire less costly loans that impact the price of the goods they sell. As far as expenses are concerned, people will have more funds to spend on goods and services.

Income

Interest rates can have an impact on the income people earn by affecting economic growth. Slow economic growth will influence the level of income earned. With substantially less income, people will have less cash to survive on.

When setting financial goals and making meaningful decisions regarding one’s finances, understanding the impact interest rates have on one’s life can help.