Study-Abroad Aspirants Unaware Of Education Loan Process; US Most Popular For Studies: Report – News18

Nearly 64% of working professionals are keen to pursue master’s degrees abroad because the curriculum remains market-oriented and offers enhanced employment opportunities. The shorter course duration also leads to reduced costs compared to a bachelor’s program, revealed a new report by edtech platform upGrad.

It added that the data highlights the growing popularity of education loans among aspirants, with 31.2% of respondents relying on them, followed by 27.6% seeking scholarship options, and 21.9% still exploring various funding alternatives.

Despite the high motivation to study abroad, 51.8% of the respondents are unsure of the processes, including how to apply, which exams to take, visa procedures, etc., the report said.

The study abroad arm of the edtech major, upGrad Abroad, released the second edition of its annual survey – Transnational Education Report 2.0 to provide industry stakeholders with insights into the preferences, challenges, and aspirations of Indian students who wish to study overseas for lucrative career growth.

Based on aspirants’/students’ feedback from over 200 cities, the findings offer a comprehensive analysis of Indian learners’ interests and motivations for pursuing higher education abroad.

The report showcased the transformative impact of technology that has made education flexible, student-centric, and nonlinear. Nearly 80% of data has been obtained from tier 2 & 3 cities, including Coimbatore, Kochi, Agra, Visakhapatnam, and Indore among others.

The report added that nearly 45% of Indian students are now more open to exploring non-conventional study-abroad destinations, including Poland, Taiwan, Belarus, and South Africa, in addition to traditional destinations.

While the US remained the most popular study-abroad destination among respondents, Canada’s flexible PR (Permanent Residency) policies and superior higher education system remain a huge draw, the report said.

High-quality education and job opportunities are the primary driving factors for Indian students aspiring to study abroad.

A majority of study-abroad aspirants lack sufficient knowledge about the application and admission process, highlighting the need for guidance and support.

Ankur Dhawan, president, upGrad Abroad, said, “The surging demand for affordable and accessible international education in India is undeniable, especially among the aspirational class residing outside major cities. These learners yearn to transcend borders to embrace cultural diversity, expand their horizons, and cultivate a global mindset for unlocking greater career opportunities. Yet, amid this enthusiasm, a growing gap exists in understanding the crucial aspects of financial planning and preparation.”

“Therefore, with our second edition of the report, we also aim to spotlight these emerging challenges, fostering awareness and empowering learners to make informed career decisions.”

“The country needs innovative higher-ed solutions to pave the way for learners to explore global opportunities and achieve their dreams without breaking the bank. We have to work to tackle the challenges our aspirants face collectively by also offering more guidance and support while innovation continues to play a major role,” he added.