Visa Logjam Dampens Indian Rush to US Universities This Fall

Non-banking financial cos have seen a 25-50% drop in loan applications to study in the US

- Pratishtha Bagai & Devina Sengupta

Every August, the largest batch of Indian students heading abroad for higher studies typically goes to the US. This time, it's different.

Non-banking financial companies (NBFCs) have seen a 25-50% drop in applications for loans to study in the US, as have counselors who help students navigate the study-abroad admissions process amid unavailability of visa slots.

"US student enrollment has significantly dropped over the past 5-6 months due to the unavailability of visa slots...Unavailability of visa slots has led to 25% of students to drop out or wait for the next round of admission to consider other popular destinations for overseas education," said Piyush Kumar, regional director—South Asia, Canada and Latin America, IDP Education—a study-abroad counseling firm.