According to the Reserve Bank of India (RBI), an increasing trend has been witnessed among Indian students to prefer foreign countries for pursuing higher education. This is also coupled with increased spending on tuition and hostel fees abroad.
There has been a steady rise of almost 44% to $2.8 bn from 2013 to 2018!
What’s driving the students away?
As per an IIE report, 1 out of every 6 international students in the US is from India! Over the years, the number of Indian students preferring foreign universities has been on the rise.
This trend can be attributed to the following factors: of equal opportunities in India with the following two factors playing an important role:
- Increased competitiveness: With a burgeoning population base, students find it increasingly difficult to compete for seats at prestigious institutions like IITs, IIMs, etc.
- Employment woes: With a larger pool of applicants to fight for the same number of jobs, the probability of landing a job has gone down.
And what’s causing this expenditure rise?
- Increase in cost of education abroad which is higher than the inflation rate
- Decrease in the number of scholarships on offer
Universities from Australia, UK, Canada, and the US have been increasingly active in recruiting Indian students which have resulted in an increase in student outflow and expenses.
How can your school make a difference?
With students having the economic power and the willingness to travel abroad for pursuing their higher education, it is critical for schools to guide them towards the right career.
Ms. Manmeet Kaur, the expert Student career counsellor at Univariety, who has successfully guided over thousands of students, cites:
“Rather than making blanket career choices without in-depth research and planning, students should assess their options first. Students should not blindly apply to foreign universities and should actually connect with their school alumni to get first-hand information. Schools should be enabled to guide their students to make the right career decisions at the right time. This is where the need for a comprehensive guidance system comes in.”
India: Off the Track?
Despite being the home of Universities like Nalanda and Takshashila since ancient times, India has never been on the radar of global students as a prominent study destination. Over the years, Indian educational institutions have been receiving tough competition from global universities. This increasing trend of students shying away from Indian Universities makes us take a hard look at the state of the Indian education system. The Indian government has been implementing plans like the ‘Study in India’ and recognizing ‘Institutions of Eminence’. But there is a long way to go before India shows up prominently as a global education destination.
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