The academic pursuits of Indian students are painting a vibrant tapestry on the global canvas, with estimated direct expenditures expected to reach a staggering US$70 billion by 2025, according to a comprehensive report by Gradding.
This financial landscape encompasses tuition fees, accommodation and various living expenses, revealing the considerable financial commitment Indian students make in pursuit of their educational dreams.
The report highlights the crucial role of scholarships in alleviating the financial burden on students and emphasises the need for robust financial support structures. University Living’s analysis adds to the narrative, revealing a significant increase in the number of Indian students studying abroad.
“Beyond Beds and Boundaries, a report on Indian student mobility, predicts that the number of Indian students studying abroad could be between 1.5 and 2 million by 2025.
The most popular destinations for Indian students include the United States, Canada, the United Kingdom and Australia, which together account for a significant proportion of the estimated expenditure.
While tuition fees account for half of the total expenditure, the other half is spent on housing and living expenses, creating a dynamic financial ecosystem.
As the global education landscape continues to evolve, affordability is becoming a key consideration. Countries such as Germany, Russia, the Philippines, Singapore and France are emerging as viable options for Indian students, offering a balance between quality education and financial feasibility.
The increase in the number of Indian students studying abroad can be attributed to several factors, including pent-up demand post-pandemic, improved post-study job opportunities, and the availability of educational loans and scholarships.
The Open Doors Report 2023 reflects a resurgence in study abroad numbers, showing a 12% increase in international students in the United States.
Despite this exciting growth, challenges such as housing shortages remain. The report highlights that students spend approximately $16,590 on housing, prompting a call for collaborative efforts to address the housing crisis.
