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Sushil Sukhwani  |94 Answers  |Ask -

Study Abroad Expert - Answered on May 27, 2023

Saurabh Question by Saurabh on May 26, 2023

Hi. My daughter is in class 8th. She has dream to study in foreign top university( top10). She is interested in finance and also in maths. She is very much looking for doing efforts to get scholarship. I am a simple and small earning person. Pls help and guide so that she can get and acheive her dream

Ans: Hello Saurabh,

First and foremost, thank you for contacting us. It's encouraging to learn that your daughter has high ambitions. Indeed, pursuing a higher education at a prestigious overseas university is a difficult but worthwhile road. While the road ahead may not be simple, there are various steps you and your daughter may take to improve her prospects of admission to a prestigious university and receiving a scholarship. To assist her in realizing her dream, consider the following advice:

1. Academic Prowess: Encourage your daughter to put her education first and aim for academic achievement. Maintaining strong scores in finance and mathematics will improve her prospects of admission to a prestigious university.

2. Determine Target Universities: Conduct research to find the top colleges with robust finance and mathematics programs. Shortlist colleges that fit your daughter's goals and offer scholarships to international students.

3. Prepare for Standardized Tests: Standardized exams like the SAT or ACT are required by several universities. By offering her study materials, mock exams, and, if it's possible, enrolling her in test preparation classes, assist your daughter in preparing for these exams.

4. Extracurricular Interests: Encourage your daughter to join in extracurricular activities that align with her interests. She could sign up for groups or clubs that concentrate on finance or economics in the realm of finance. She exhibits her interest, leadership abilities, and devotion by participating in extracurricular activities.

5. Community service and volunteering: Encouraging your daughter to participate in volunteer work and community service projects will distinguish her from competitors while also demonstrating her dedication to having a good influence.

6. Essay/Personal Statement: Assist your daughter in writing a strong personal statement or essay for her college application that demonstrates her drive, enthusiasm, and future objectives. Underline her distinct experiences, the difficulties she has faced, and how studying abroad fits with her goals.

7. LoRs: Help your daughter establish solid connections with the community leaders, mentors, and instructors who can write recommendation letters for her. Her accomplishments, talents, and potential for success in higher education should be highlighted in these letters.

8. Research Scholarships: Look for financial or mathematical scholarships that are especially designed for overseas students. For exceptional students, several colleges provide options for financial aid and scholarships. To identify relevant possibilities, conduct online research, contact university financial aid offices, and search scholarship databases.

9. Plan your finances: As a low-income person/student, you must plan for the financial aspects of studying abroad. Investigate the associated expenditures, such as tuition, lodging, living costs, and travel. To help with the costs, look into financial aid programs, scholarships, and part-time employment choices.

10. Seek Direction and Assistance: Encourage your daughter to consult with her academic adviser, instructors, and school counselor, to get sage advice and support during the application process. They can help her comprehend the specifications, offer input on the submitted documents, and help her find appropriate scholarship opportunities.

The route to studying abroad and obtaining scholarships might be difficult, but with perseverance, diligence, and the right support, your daughter can fulfil her ambitions. Journeying forward, motivate her to persevere, stay committed, and accept possibilities for improvement. Best wishes on your daughter's academic career!

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Asked by Anonymous - Sep 14, 2023
Sir, I just retired from my service @60yrs. I will get my PF+other fund ₹50L. Please advice how to invest the amount so that my principal not disputed and I can get ₹30,000 pm for my monthly expenses. My family of 2 persons are covered ₹50L health insurance. Regards
Ans: Considering your age and your requirement, you will need to invest in a mix of debt and equity instruments. Here are some investment options available to you:-

• Senior Citizens’ Savings Scheme (SCSS) – This is a pure debt instruments and provides guaranteed returns of 8.2% per annum. The interest is paid quarterly. The maximum amount that you can invest is Rs. 30 Lakhs.

• Corporate FDs – It provides you return more than the regular bank FDs. It contains two options i.e. cumulative and non-cumulative.

• Post Office Monthly Income Scheme (POMIS): This is another government-backed scheme that offers guaranteed monthly income. The current interest rate is 7.1%.

• Debt Mutual Funds: As your main concern is to protect the principal amount you may consider debt funds and monthly income can be achieved through the route of SWP (systematic withdrawal plan).

• Equity mutual funds: Equity mutual funds offer the highest potential returns, but they are also the riskiest. A small portion of the amount can be invested in the equity mutual funds for growth of the money in the long-term horizon.

It is good to know that you are adequately insured for any healthcare emergency.

Your requirement of Rs. 30,000 will be changing in the future due to inflation, hence you should consult with your financial advisor for a proper increasing income or SWP (systematic withdrawal plan) which can help you to ensure sufficient amount available for your monthly expenses.

Sanjeev Govila  |192 Answers  |Ask -

Financial Planner - Answered on Sep 23, 2023

Hi Sir, I worked a small level company between 01.02.2018 to 30.04.2021. They paid standard EPF contribution of Rs. 1800/- from my side they deducting the same of Rs. 1800/-. After I exit the company I applied the EPF Withdrawl (both contribution) on 06.05.2023 and it was rejected by the officer and the reason was mentioned "Claim Rejeced EQUAL SHARE 07/18". The Employer deposit the July 2018 share in wrongly i.e. The deposited Rs. 1800/- in Employee Share and Rs. 1800/- employer Share and Pension is " 0 ". instead of Rs.1800/- as employee, Rs. 550/- as Employer and Rs.1250/- as pension contribution. When I sent a 2 continues mail to EPF they taking my query as a grivience and sent a query to the employer. But Still they not close the issue. How to I approch them to clear my claim. Because there is no mistake from my side. Thanks in Advance. Narayanan
Ans: I understand that your EPF withdrawal claim has been rejected due to an error in your employer's contribution. This is frustrating, but it is important to remember that you are not alone. Many people experience problems with their EPF claims, especially when their employers make mistakes.

When filing a grievance, be sure to provide clear and concise information about the issue. You should also include any relevant documentation, such as your EPF statement and the revised Form 11 from your employer (if you have one).

Once you have filed a grievance, the EPFO will investigate the matter and try to resolve it. This process can take some time, but it is important to be patient.

Here are some additional tips:

• Keep track of all your communication with the EPFO. This includes emails, phone calls, and visits to the office.
• If you are not satisfied with the EPFO's response, you can escalate the issue to the regional or national level. You can also mail on employeefeedback @ epfindia.gov.in for the redressal of your grievance.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.


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