Ph.D. makes you an aspiring academician as it is a precious asset. Through Ph.D. research, you learn a lot of new things.
Precious things are always costly, so the Ph.D. is. Its total cost is different in different countries. Like in the United Kingdom, the tuition fee of a Ph.D. can be up to six thousand Euro per annum for the national student and up to eighteen thousand Euro per annum. In the United States, Ph.D. is even more costly. It may cost up to thirty-five thousand dollars per annum. Some countries facilitate their students to get a Ph.D. degree by charging a nominal fee. For example, in Germany, the tuition fee of the Ph.D. is equal to the tuition fee of any other post-grad degree.
Where there is a problem, there is always a solution. The solution to the high cost of a Ph.D. lies in financial funding and scholarships. There are so many sources where you can get financial aid.
Funding from Research Council of the Country
Mostly the Research council of the country provides scholarships and studentships for Ph.D. students. The studentship is a type of financial aid that is provided for the research work of a Ph.D. You conduct your research work with the research council under the supervision of a supervisor. In other words, you work as a research assistant. The research council also provides fully-funded scholarships for eligible candidates.
Funding Offered by the Nation and International Universities
Just like the Research council some universities also provide financial aid to Ph.D. students in many ways. Universities offer scholarships, studentships, and other programs to national and international students of the relevant field. These types of financial aids usually cover the tuition fee of Ph.D. students and the rest of the essential costs for a research project. In the case of studentship, you have to work for the university as a research assistant or teaching assistant. This thing will increase your experience in academia and can help you excel in your field.
Living Costs and Opportunity Costs
Apart from tuition fees and research project expenses, there are some other expenses that need to be considered. Living expenses are one of them. Living cost depends on the country in which you are living. Some countries like the UK and Canada are more expensive in this regard, as compared to others.
Opportunity cost also exceeds your limit mostly. As the course of a Ph.D. is time demanding, you can not do a regular job for earning your expenses. The only solution is to work at the same place where you study. Your study becomes your job. You get a chance to earn your living and opportunity cost along with the study and research project.
Career with PhD
Ph.D. is very good in terms of career. It increases your worth and credibility. One may not agree with it at first but Ph.D. will sure help you in the long run. Starting salaries of Ph.D. professionals are much more than the Masters. So, if you are more salary-oriented, it will surely help you.
Ph.D. helps you excel in academia, as the subject specialists are always required by higher studies institutes. Also, the non-academic organization is now more oriented towards the subject specialists and Ph.D. professionals. They surely want to get benefits from the skills of Ph.D. professionals.
Moreover, Ph.D. will polish your skills. You will get an opportunity to learn a lot in your
desired field. It makes you strong financially as well as intellectually.