Since this blog primarily is meant to be a guidance blog for others who might consider studying abroad, I figured that it would be a good idea to show you guys my budget for the next two years. Because - let´s be real - studying is really expensive. In fact, student loans are topping the list of loans that people use the most time paying back. Back in Norway the criteria is that you shall have paid back your student loan by 65.
In order to manage doing so, it is important that you have a certain overview of your economy; how much goes in/out of your bank account. A perfect way of making sure that you don´t use more money than you have (or can pay back) is to make a budget and try and stick to it..
This is what my budget looks like
As you can see, I will only receive $ 33 002.03 in loan from the Norwegian Educational State Loan Fund (Lånekassen), but I get $ 1 689.58 in travel stipend. To cover my calculated total expenses on approximately $ 262 854.97, I will get $ 228 163.36 in scholarship.
My transportation costs are on $ 146.99 because I just bought a cute, vintage bike to that price, and that will have to do as my "uber" for these next two years. Yup. I am really looking forward to biking home from partys with drunk friends on my luggage carrier, though...
Well, that was all for this time! I hope that, now as you´ve read this blog post, you realise how much money we are actually talking about when it comes to getting an education. That being said, my financial support from Laanekassen is limited to only $ 33 002.03 because I am not paying for my tuition and etc myself. People who don´t receive scholarships, but have to pay for their tuition themselves, usually get much more money in loan. And when/if they finish their education, parts of their loans get turned into stipends. So in the end, they usually don´t have too much student loan to pay back either.
Now, thank you for being loyal readers of my blog, I truly appreciate it.
Lots and lots and lots of love <3