Let’s face it; a PhD research can be quite a burden on your monetary resources. There are several elements on which you will need to spend. Everything from arranging equipment for research to getting reference books, gathering data and traveling for the project will cost you money. Now, if you don’t possess a fortune, you will need to arrange for the funds on your own. Here are some ways in which you can do so:
- Funding from authorities: there are many organizations that support research work. Every country and specialized domain of study has its dedicated research funding body. There are schemes like the Commonwealth Scholarship plan to which you can apply. Some scholarships are awarded to universities, instead of scholars. The research committees then assess PhD candidates to find the ones who deserve the scholarship.
- Charities: if you are not lucky enough to get the scholarship, you still have hope. There are some charity organizations, like the Wellcome Trust and the Humanitarian Trust that support scholars. Shortlist some charities that provide adequate aid and apply to them well in time. The application process is usually short and simple. There are some charities which are underutilized. Find out about them and get going.
- Part time job: Working is an option if you can manage the time. Getting a job on campus will help you spend more time with your faculty and get to know them in an informal manner. Also, you can get past many bureaucratic hassles. If you get to work in the industry to which your study relates, you can get valuable information and insight.
- Erasmus Mundus: this is a specialized funding program for PhD candidates, and is supported by the European Commission. If you qualify for this program, you can get training and complete your project without stress. The funding is provided for three to four years and there are dedicated programs for different streams of study.
- Borrow: the last resort is to get aid from an institution that offers higher education and research loans. Before you sign the dotted line, compare the terms of repayment, interest rates and associated charges of various banks.
Having a solid monetary backing will act as a boon for your research work. So pay attention to the financing part before you jump full-fledged in the study.