WHY STUDENTS SHOULD RECONSIDER GOING ABROAD FOR AN UNDERGRADUATE PROGRAMME

Apart from the outflow of foreign exchange, there are other reasons for students to rethink the idea of studying abroad immediately after school

- 

With universities in the U.S. facing funding cuts, there is concern over visa issuance and opportunities for international students declining. This leads to think about the concept of foreign education. The two top countries where students look at going abroad for education are India and China. In 2023, India topped the total overseas higher education expenditure at $60 billion. This number is expected to reach US $70 billion in 2025. This means that there is a huge outflow of money from India to other countries for education. Apart from this, there are other factors to be considered.

Cost of education: The average cost of a UG programme in the U.S. is $38,270 (approx. ₹32,50,000) per year, including books, supplies, and daily living expenses. Often, this is managed through education loans. According to India’s Ministry of Finance, the total student loan debt in India has crossed ₹90,000 crores with an annual growth rate of about 15%. When students do not secure stable jobs after course completion, this leads to defaulting on repayment and financial burden. Is this required for studies at the undergraduate level?