How do you convince a student who has fought against odds to grab a slot in Harvard that she should forfeit the opportunity because of funds? With the alarming rise in the exchange rate, funds are a major hindrance that keeps many Nigerian students from studying abroad.

Whether you want to study in the UK, Canada, or other foreign countries, you must present a proof of fund (PoF) to prove your financial capability before a student visa is given to you. But what happens when you lack proof of fund to present? Would you forfeit the admission or seek alternatives?

Well, if you chose the latter, you’re right. Instead of forfeiting your admission, you can present proof of fund alternatives to secure your admission. Here are four proof of fund alternatives you should consider:

1. Sponsors’ Account
A sponsor can relieve you stress of finding ways to fund your account. Who can be your sponsor? Anyone. Sometimes, you may lack loved ones to sponsor your education, but you can find strangers to help you.

In that regard, with the support of a sponsor, you won’t need a large amount in your accounts to show as financial evidence. Instead, you can achieve your study abroad dreams with the sponsor's PoF and a letter explaining their relationship with you and why you need financial help.

2. Scholarship Letter
With a scholarship letter, you may not have to show financial proof that you can take care of yourself abroad. A scholarship can handle such a request, especially if you earned a fully-funded scholarship.

On the other hand, if an agency sponsors you, you will receive an official scholarship letter detailing the amount you received and the terms associated with such a scholarship. If you don't have a fully-funded scholarship, you should provide documentation that can cover the remaining part of your study abroad.

3. Student Loan

Student loan makes it easier to study abroad without PoF. Unfortunately, most Nigerians struggle to find this type of funding. But there’s a solution to that. Pay4Me has enabled students from Nigeria and Ghana to access loans up to $100,000 to study in the United States and Canada. Applications are super easy with no cosigners, collateral, or the US or Canada credit history required.

4. Gift Deed
With a Gift Deed, you can have a piece of documentary evidence that someone can foot your bills abroad. This type of funding comes from your sponsor’s account. Many Nigerians use the statement of account of their sponsors as PoF. However, if you have a close relative as your sponsor, you may not need Gift Deed.

Conclusion
Not having proof of fund isn’t enough reason to forfeit your admission. With the alternatives we discussed in this post, you can easily secure your admission abroad. Find a sponsor or maximize student loans to make your study abroad dream come true.

Want more information on proof of funds? Read our recent blogpost on proof of funds here to learn more.

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How do you convince a student who has fought against odds to grab a slot in Harvard that she should forfeit the opportunity because of funds? With the alarming rise in the exchange rate, funds are a major hindrance that keeps many Nigerian students from studying abroad.

Whether you want to study in the UK, Canada, or other foreign countries, you must present a proof of fund (PoF) to prove your financial capability before a student visa is given to you. But what happens when you lack proof of fund to present? Would you forfeit the admission or seek alternatives?

Well, if you chose the latter, you’re right. Instead of forfeiting your admission, you can present proof of fund alternatives to secure your admission. Here are four proof of fund alternatives you should consider:

1. Sponsors’ Account
A sponsor can relieve you stress of finding ways to fund your account. Who can be your sponsor? Anyone. Sometimes, you may lack loved ones to sponsor your education, but you can find strangers to help you.

In that regard, with the support of a sponsor, you won’t need a large amount in your accounts to show as financial evidence. Instead, you can achieve your study abroad dreams with the sponsor's PoF and a letter explaining their relationship with you and why you need financial help.

2. Scholarship Letter
With a scholarship letter, you may not have to show financial proof that you can take care of yourself abroad. A scholarship can handle such a request, especially if you earned a fully-funded scholarship.

On the other hand, if an agency sponsors you, you will receive an official scholarship letter detailing the amount you received and the terms associated with such a scholarship. If you don't have a fully-funded scholarship, you should provide documentation that can cover the remaining part of your study abroad.

3. Student Loan

Student loan makes it easier to study abroad without PoF. Unfortunately, most Nigerians struggle to find this type of funding. But there’s a solution to that. Pay4Me has enabled students from Nigeria and Ghana to access loans up to $100,000 to study in the United States and Canada. Applications are super easy with no cosigners, collateral, or the US or Canada credit history required.

4. Gift Deed
With a Gift Deed, you can have a piece of documentary evidence that someone can foot your bills abroad. This type of funding comes from your sponsor’s account. Many Nigerians use the statement of account of their sponsors as PoF. However, if you have a close relative as your sponsor, you may not need Gift Deed.

Conclusion
Not having proof of fund isn’t enough reason to forfeit your admission. With the alternatives we discussed in this post, you can easily secure your admission abroad. Find a sponsor or maximize student loans to make your study abroad dream come true.

Want more information on proof of funds? Read our recent blogpost on proof of funds here to learn more.

I need a collateral loan. I have 2plots of land and i will pay back within a year. Anyone that can be of help i'll be glad

If you like go collect $100000 loan just because you want to study abroad. You go hear am later

Please I need a help here I am getting a gift from my dad he is transferring the sum of 7 million to my current account wish I am using to print my statement with affidavit of gift of deed can I transfer like 3 million from my saving to my current too and what document do I need to back it up for my pof