fbpx
Market intelligence for international student recruitment from ICEF
23rd Jan 2012

Indian students finding it harder to afford studying abroad

With the rupee falling over 18% against the dollar in the last year, course fees and living expenses carry a higher price tag for Indians, forcing students to defer overseas plans or look at alternative sources of funding like loans, scholarships or part-time jobs. But as a recent article in University World News points out, obtaining a loan could be a challenge. According to the Reserve Bank of India, lending on education loans grew only by 17% in October 2011, compared to 24% in October 2010. Banks are cutting back slightly on loans for overseas study due to a perception that the graduate jobs market is tightening. “Banks may now see higher risks for students in terms of job potential and the ability to pay back the loan,” said Prashant Bhonsle, country head of Credila Financial Services, who felt that global uncertainty could have led to the slowing in education loan growth. Time will tell how Indian students cope with the currency fluctuations - will the majority wait it out, part with more money or turn to alternate funding sources? Source: University World News

Most Recent

  • ICEF Podcast: Together for transparency – Building global standards for ethical international student recruitment Read More
  • New analysis sounds a note of caution for UK immigration reforms Read More
  • The number of students in higher education abroad has more than tripled since the turn of the century Read More

Most Popular

  • Which countries will contribute the most to global student mobility in 2030? Read More
  • Research shows link between study abroad and poverty alleviation  Read More
  • Beyond the Big Four: How demand for study abroad is shifting to destinations in Asia and Europe Read More

Because you found this article interesting

ICEF Podcast: Together for transparency – Building global standards for ethical international student recruitment Listen in as ICEF’s Craig Riggs and Martijn van de Veen recap some of the latest news and...
Read more
New analysis sounds a note of caution for UK immigration reforms Within the UK’s higher education system, there are a group of institutions known as “Post-1992 universities”. The term...
Read more
US warns of expanded travel ban that could affect key African markets “The United States is considering restricting entry to citizens of an additional 36 countries in what would be...
Read more
Breaking: US resumes student visa processing On 18 June, the US State Department sent a cable to all US diplomatic posts abroad instructing them...
Read more
Is Canada valued more as a “pathway to immigration” or as a destination for education? During a 12 June 2025 webinar presented by the Canadian Bureau for International Education (CBIE) and IDP, IDP...
Read more
Japanese outbound numbers reached 90% of pre-pandemic levels in 2024 An annual survey of Japanese education agents finds that outbound student numbers from this key sending market are...
Read more
UK: Study visa applications up by nearly a third year to date The early data we are seeing so far this year makes a couple of things clear. First, there...
Read more
Real-time insights on shifting international student interest in the US ICEF and NAFSA co-hosted a featured webinar on 11 June, and the session showcased some important data reflecting...
Read more
What are you looking for?
Quick Links