After two years of enforced confinement at home, it appears that almost every student in India wishes to pursue their higher education from abroad. Reports suggest that in one year from 2021 to 2022, there was a huge spike in the number of students who went abroad.
There was a jump of 69 per cent for all those students who wanted to study abroad. This event isn’t something that happens very frequently. However, due to the pandemic, this occurred.
However, there are many other factors as well. These factors include the increasing affordability of foreign education as compared to the limited number of quality education left. The next one is, where the students want to migrate to a new country and start a new life.
Factors to Consider When Moving Abroad
As students start applying for the application for 2024, here are all the important factors that one should note. This should be in mind before considering moving abroad.
Comparison Between Countries
At the time of choosing between which country to go to. There are many factors the student has to go through. These include which is the best country for studying, the best universities, the type of culture and several others.
After considering all these factors, countries like the US, UK and Canada are some of the top countries that are preferred the most for study abroad education. Other countries that come into the list include Australia, Ireland, Switzerland, Germany, New Zealand etc.
The good news is that students have to no longer stand in long queues at bank branches to get education loans. Now, the student can simply fill out the forms by sitting in the comfort of their homes.
This brings us to another question – Which bank should one choose – public sector banks, private ones, NBFCs or fintech companies?
During this time, it is very important to note that the cheapest rates are offered by public sector banks and, fintech companies may levy higher interest rates.
The student should ensure that this process is done at the earliest as there a limited set of of lenders, and a limited set of courses eligible for foreign currency loans.