Students Can Choose Countries Other Than the US or UK for Higher Education

Utrecht University, Netherlands is ranked at 86th position by education advisory Times Higher Education (THE) World University Rankings, 2017. Apart from being affordable, the campus is an abode for students all around the world.

Phil Baty, World University Ranking Editor at Times Higher Education, said that cities such as Utrecht, Cape Town of Africa and Daejeon of South Korea have varsities in the Top 100 and this shows about the options students have. Though the rankings are topped by the US and UK but there are countries from Asia and Europe on the list also.

The Asian and European countries include Universities from Germany, Sweden, Belgium, Japan, South Korea, Switzerland and Finland. The University of Hong Kong is ranked at 43th position, Korea Advanced Institute of Science and Technology (KAIST) in South Korea is at 89th position and University of Cape Town in South Africa at 148th position among the top 150 universities on the list.

RSS Mani, Vice President of Institutional Development at the ITM Group of Institutions, said that environmental location of the university should not matter much. Rather students shall be more concerned about whether the university is reliable, the courses it offers, whether the country is immune to political issues and whether the students can adapt properly or not.

According to Education Consultants, the courses in Sweden are very well-planned and faculty is also of good quality.

Sweden has five globally acclaimed universities with a huge strength of foreign students. Karolinska Institute in Stockholm is ranked 28th by Times Higher Education ranking. It has ample scope for research, English courses and many students across the world.

According to a consultancy service, if a student wants to learn subjects like Genetics, Molecular Biology or Agricultural Engineering, Finland is a place to be. It offers an eighteen month work permit after completion of the course, trouble-free immigration policies and a better shared culture. The University of Helsinki, Finland is ranked at 91th position on the Times Higher Education list.

Chris Parr, Digital and Communities Editor at Times Higher Education World University Rankings stated that Hong Kong has six of the universities in the top 500 Times Higher Education ranking list and most of the university courses are taught in English and the universities have well-built associations with the employers which makes getting a job easy after completion of the degree.

According to an online counseling firm, China provides good job prospects to foreign students in Multinational Companies (MNCs).

For students who are interested in making a career in the field of photography or graphic design, Poland is the ultimate destination. The courses are taught by well-acclaimed professionals around the globe and the courses are affordable also

South Korea is the place for IT courses and jobs. Though the cost of tuition may be relatively low and the scholarship programmes are easy to avail but cost of living is expensive in some of the European countries. Looking for low-cost lodging in Stockholm takes time.

The Times Higher Education Editor highlighted the fact that most of the universities are still in the run of etablishing their status globally. Employers are thoughtful to a degree from a renowned institution in a country which is known for its high- quality education like the US or UK than they would do to a degree from a university that possibly they might have not heard of earlier.

Experts say that because of smaller Indian student communities in the unusual countries, one might feel like a stranger especially if English is not their first language. Initially understanding new culture is difficult but gradually one gets adapted to it.

What Is a Higher Education?

There exists confusion about the meaning of higher education. To some, it purely meant as an education which can earn a college degree. To others, it’s pursuing an education and attending it voluntarily. Usually, higher education means a post-secondary education.

However, the meaning of education varies from other countries. Countries around the world, but not all, have a mandatory education which is the same with what an individual may obtain from a U.S. high school. Other countries only have few public educations accessible or have none at all. Oftentimes, education has only been offered to the privileged class in lieu to everybody. It has not been mandatory in several countries to study in high school and a number of these countries restrict public school education at a very tender age.

In its true essence, an education could really have an extensive definition. In the U.S. and in most European countries, it has been understood as a post-secondary education which is sustained in a voluntary attendance. It is either studying in a university, or gaining a training program in a vocational or technical school, or obtaining a certification course in a community college. Thus, either an individual pursues earning a licensed or certified degree; one normally undergoes a higher education training program from any of these learning institutions. In fact, completing a secondary education or having a high school diploma is not even necessary for a few vocational and technical schools.

Another education is indeed rarely mandatory. It is not compulsory for everybody to take up college courses or technical training in a vocational school and only a handful of countries enact higher education as compulsory. Nevertheless, a lot of people realize that they are not appropriately educated or trained to become part of the employed sector if they don’t have the added skills and knowledge that a higher education provides. Therefore, this is a motivation and a desirable want for an individual when and where to start.

There is somehow a distinction for several high schools offering an Advanced Placement (AP) program. One is that, the program may be undertaken by the most able of students with a good grasp in studying and learning. And, once they hurdle the necessary tests, they will be eligible to earn credits for college. Actually, these students are undertaking their lower degree of education through obtaining a diploma while they have already been commencing to study and learn in a level of higher education.

Know the Higher Education Expenses Covered by Your IRA Account

College Education spells costs. Savings nowadays accumulate just minimal interest rates; not enough to cover your entire child’s education. Good thing there are IRA assets. IRA stands for Individual Retirement Account and owning one can save you from the stress of financing your children’s education after high school. Using the IRA to cover for the qualified higher education expenses at a qualified educational institution gives a lot of convenience to parents nowadays.

What are higher education expenses and what measures are used to determine if the expenses are qualified? Section 529 Chapter 3 of Internal Revenue Code defines “qualified higher education expenses” as a term denoting the essential college expenses. Essential college expenses constitute equipment, supplies, books, tuition and fees needed for attendance or enrollment in a qualified educational institution. If your child is a half time student, these expenses can also include his room and board.

Be cautious however and remember that not all higher education expenses are covered by IRA. By law, it is required that the expenses should be coordinated with the other educational benefits of the student. On the recent rules released by Commissioner Gorski of the United States Tax Court, IRA distributions should be used to pay certain equipment or supplies necessary for enrollment or attendance; these expenses are penalty free. Moreover, the owner should withdraw his contributions for qualified higher education expenses the same year the expenses are incurred.

IRA does not cover all expenses! This should be stressed to all IRA owners since most of the times, there are confusions as to what can be regarded as expense or not. Simple guidelines will be:

a. Proper and complete documentation is necessary for purchase of books. The documentation is needed to show that the expense is really incurred during appropriate tax year.

b. Household items are not needed for enrollment. These items are not higher education expenses and thus are not qualified.

c. Laptop computers are important educational equipment needed by students nowadays. Although this maybe the case, these computers are not required for a student to be enrolled; and just the same, these will not qualify as higher educational expenses since schools will not require students to purchase one.

As you can notice, the rules are basic and direct. The US Court definitely requires that the eligible educational institution should be the ones stating their specific requirements. What is set by the educational institution as school expenses will then be the basis of IRA’s higher education expenses.

Being an IRA owner, you can choose to utilize all or just some of your IRA assets to help you settle your children’s education. Your distribution, when withdrawn before your age of 591/2, will be subject to 10% penalty tax and federal income tax. Nevertheless, the IRC allows several kinds of distribution exempted from the 10% penalty tax; this includes those distributions utilized to pay qualified expenses. Remember that if the amount you withdrew from your IRA account in a year does not exceed your eligible higher education expenses, the penalty tax of 10% will not be applied, however, you will still pay the regular income tax.

With the bulging costs of higher education nowadays, it’s a good thing people are getting wiser by investing their money for future. Individual Retirement Account is good for supporting your child’s education. Proper preparation is vital and owners must be responsible enough to know which will qualify as higher education expenses and which are not.