International students wishing to study overseas are always on the look-out for highest paid scholarships that will take care of their studies and relieve them of the financial burden that comes with studying in a foreign country. The search for scholarships itself is a very tedious exercise if one is not conversant with the various scholarships available to be explored.
It is therefore important for international students to be aware of the scholarship benefits around the world which will enable them to prepare to make good use of such opportunities to study in a foreign land
There are different types of scholarships ranging from fully-funded scholarships, partially-funded scholarships to tuition awards. Others include merit-and need-based scholarships which explores the academic standing as well as the financial status of prospective students. However, to be able to win lucrative scholarships, one must prepare adequately for such opportunities as they are always highly competitive.
Here, we are bringing to you a list of the most lucrative and highly sought-after scholarships available for international students.
Top 10 Highly Paid Scholarships for International Students 2022/23
- Commonwealth Scholarships
Commonwealth scholarships are one of the most sought after scholarships in the world by international students. Commonwealth Scholarships are given to talented individuals with the potential to make a positive impact on the global stage. Around 800 students are given the opportunity to undertake postgraduate degrees with UK universities.
If you are a national of a Commonwealth country and you know you could make a difference to the world but you can’t afford to finance your UK studies on your own, then you could be the ideal candidate for a Commonwealth Scholarship. There are different types of awards available which includes:
- Commonwealth PhD Scholarships (for least developed countries and fragile States).
- Commonwealth Split-site Scholarships (for low-and middle-income countries)
- Commonwealth Master’s Scholarships
- Commonwealth Distance Learning Scholarships.
- Commonwealth PhD Scholarships (for high0income countries).
- Commonwealth Medical Fellowships.
- Commonwealth Professional Fellowships
- Chevening Scholarship
Chevening Scholarship is the UK government’s scholarships that enable future leaders to study in the United Kingdom, whilst joining a community of global professionals who impact the world positively. It is one of the highest paid scholarships for international students. Funded by the Foreign, Commonwealth and Development Office (FCDO) and partner organisations, Chevening offers two types of award – Chevening Scholarships and Chevening Fellowships. Since 1983, over 50,000 professionals have studies in the UK through Chevening.
- Bill and Melinda Gates Scholarship
the Bill Gates and Melinda scholarship is for the students who are ready to pursue a full-time four-year degree program at the US accredited, not-for-profit, private or public college or university. The scholarship is supported by the Bill and Melinda Gates Foundation, a foundation that works to help all people lead healthy, productive lives. Indeveloping countries, the foundation focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty.
This scholarship awards up to 150 scholarships of $20,000 each year to most outstanding candidates to study in world-class universities. The Coca-Cola Scholars Program provides the successful scholar access to education and lifelong leadership development opportunities by allowing them to create and inspire positive change in their communities and beyond.
- Australia Awards Scholarship
This is one of the prestigious scholarships for international students wishing to study in Australia. Australia awards scholarship opportunities are provided to people from developing countries, particularly those countries located in the Indo-Pacific region, to undertake full time undergraduate or postgraduate study at participating Australian universities and Technical and Further Education (TAFE) institutions.
The benefits of the scholarship include full tuition fees, return air travel, establishment allowance, contribution to living expenses, overseas student health cover, etc.
- Fulbright Scholarships
The Fulbright scholarship is one of the most rated scholarship in the Unites States of America. The scholarship provides full funding for masters and PhD degree programmes in universities in USA. There is also the Fulbright Foreign Student Program that enables graduate students, young professionals and artists from abroad to study and conduct research in the United States. The Fulbright Foreign Student Program operates in more than 160 countries worldwide. Approximately 4,000 foreign students receive Fulbright scholarships each year.
The Fulbright Foreign Student Program is administered by binational Fulbright Commissions/Foundations or U.S. Embassies.
- DAAD German Government Scholarships
The DAAD is the world’s largest funding organization for international exchanges among students and researchers. DAAD is supported by the German government and has funded nearly 2 million students and scholars from around the world. Its activities go beyond simply awarding grants and scholarships but also supporting the internationalization of German universities, promoting German studies and assisting developing countries in establishing effective universities.
The Erasmus Mundus Scholarship is a fully funded scholarship programme supported by the European Union for international students to enroll for a master’s or PhD degree in European Universities. All expenses are covered by the scholarship.
The Joint Japan/World Bank Graduate Scholarship Program (JJWBGSP) has enabled over 6,000 mid-career professionals from 160 developing countries and Japan to study for a graduate degree in development-related fields. On an annual basis, the Government of Japan funds the JJWBGSP.
- New Zealand Government Scholarship
The scholarships are funded through the New Zealand Aid Programme and administered by the Ministry of Foreign Affairs and Trade to help build prosperity, security, and sustainable growth in partner countries. This is one of the highest paid scholarships made available by the government of a country. The benefits of the New Zealand Government Scholarship Includes:
- full tuition fees
- travel between New Zealand and your home country (at the beginning and end of your Scholarship, and reunion travel for some students)
- an establishment allowance to help with set-up costs
- a fortnightly living allowance to cover basic living expenses
- medical and travel insurance
- private tutoring and writing coaching
- a research and thesis allowance for some postgraduate students
- a reintegration allowance to support you to settle back home
We do hope that the list of the most lucrative scholarships will help you narrow your search for international scholarships as you begin the new year. If you find this article useful, please do well to let us know at the comment section. You can Sign Up for our newsletter for more useful tips.