In 2024, Prodigy Finance, a prominent provider of international student loans, sheds light on the evolving landscape of studying abroad. Globalisation continues to reshape education, with an increasing number of students venturing beyond their home countries. As of 2024, over 6.4 million students worldwide are pursuing higher education overseas.
Sonal Kapoor, Global Chief Commercial Officer at Prodigy Finance, emphasized, “Studying abroad can be transformative. With the growing demand for international education, we are dedicated to facilitating this journey for students worldwide.”
While traditional study destinations like the US, UK, Canada, and Australia remain popular, students are increasingly exploring newer options such as Germany, Singapore, and Spain. These countries offer attractive visa policies, diverse programs, and lower living costs.
Students are now opting for shorter, career-focused programs like PGDIP or MEng, ranging from a few weeks to several months. This trend extends to graduates seeking additional upskilling opportunities, prompting universities to expand their course offerings to meet demand.
According to INTO’s survey, students are applying to multiple countries to enhance their chances amid visa appointment challenges and evolving regulations. This strategic approach reflects the competitive nature of international education.
Universities globally are recognizing the enriching contributions of international students, leading to increased scholarships and financial aid options. These include merit-based, need-based, and subject-specific scholarships, along with government initiatives aimed at attracting top-tier talent and promoting cultural exchange.
AFS global research highlights that 57% to 75% of Gen Z students prioritize cultural immersion when studying abroad. They value cross-cultural competencies, knowing these experiences enhance employability and enrich resumes.
In an interconnected world, the significance of global education grows. Aspiring students pursue international education for academic excellence, career advancement, and personal development. Staying informed about these evolving trends enables students to maximize their educational journey and thrive in a globalized environment.
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