Overseas Education
Over 75% wealthy Indians keen on foreign education for their kids: Survey
Over three-fourth of wealthy Indians have sent or are planning to send their kids overseas for education, according to a survey. The survey of 1,456 Indians, having investable surplus between Rs 84 lakh (USD 100,000) and nearly Rs 17 crore (USD 2 million), conducted in March found the strong urge for overseas education with 78 per cent of the respondents saying they are keen on a foreign education for their children. Investable survey is the amount set aside for investment from overall net worth. The Global Quality of Life 2024 survey commissioned by foreign lender HSBC said the United States is top overseas destination for Indians, followed by the United Kingdom, Canada. Australia and Singapore. So strong is the urge for foreign education for the child that the parents are willing to suffer financial strains as well, the survey said, pointing out that the investment in education may come at the sacrifice of retirement savings. The expected or actual annual cost of overseas educa
 "Over 75% wealthy Indians keen on foreign education for their kids: Survey")
Indian overseas spending hits all-time high of $31.7 billion in FY24
The yearly remittance data shows a robust inclination among Indians towards international travel, with expenditures totalling $17 billion in FY24
 "Indian overseas spending hits all-time high of $31.7 billion in FY24")
Andhra govt offers free insurance to overseas students under PBB scheme
Benefits of the PBB insurance scheme: Rs. 10 lakh financial assistance in case of accidental death or permanent disability; medical expenses for injuries or sickness of up to Rs. 1 lakh
 "Andhra govt offers free insurance to overseas students under PBB scheme")
Canada to hike cost-of-living requirement for international students
Starting January 1, 2024, new study permit applicants to Canada will need to demonstrate financial resources of CA$ 20,635 in addition to their first-year tuition and travel costs
 "Canada to hike cost-of-living requirement for international students")
India-Canada strife unlikely to hit education loans growth: CARE Ratings
CARE Ratings indicated that Indian students in Canada contribute nearly CAD 10 billion annually, a figure projected to rise in the long term
 "India-Canada strife unlikely to hit education loans growth: CARE Ratings")
 "Attention, students! Avoid getting scammed by education agents")
Bharat's foreign education dream gets bigger but is coming at a cost
Dim job prospects at home, burden of collateral taking a toll on students from rural India
 "Bharat's foreign education dream gets bigger but is coming at a cost")
Outward remittance under LSR dips 28% to $1.92 bn in Oct, shows RBI data
International travel contributed over $970 million or 50 per cent of $1.92 billion remitted by Indians in October 2022
 "Outward remittance under LSR dips 28% to $1.92 bn in Oct, shows RBI data")
Indians remitted $2.67 billion in August under LRS scheme, shows data
According to RBI data, in August, Indians remitted $467.52 million for overseas education, $330.70 million for maintenance of close relatives, and $221.31 million in gifts.
 "Indians remitted $2.67 billion in August under LRS scheme, shows data")
Canada visa: Processing delay may force 15% of students to defer admission
Thanks to unprecedented rise in applications processing time has increased from four weeks earlier to 12 weeks now
 "Canada visa: Processing delay may force 15% of students to defer admission")
Foreign study co Leap raises $75 mn in Series D, total funding tops $150 mn
Round led by Owl Ventures with participation from Steadview Capital and Paramark Ventures, and existing investors Jungle Ventures and Sequoia
 "Foreign study co Leap raises $75 mn in Series D, total funding tops $150 mn")
Winter trends signal uptick in overseas studies for Indian students in 2022
Relaxation in visa norms by certain host countries such as Germany to push up the number of scholars headed abroad
 "Winter trends signal uptick in overseas studies for Indian students in 2022")
Open Doors Report: US sees biggest dip in global students at 15% in 2020-21
China, India post 15% and 13% decline in students to the US in 2020-21
 "Open Doors Report: US sees biggest dip in global students at 15% in 2020-21")
Begin planning for your child's foreign education this Children's Day
Given the massive cost involved, make an early start, even if you have to do so with only vague estimates of the outlay
Indian students mull other options as Australia, Canada reject visas
The US is back in favour along with the UK for overseas admissions in Spring semester of January 2022
 "Indian students mull other options as Australia, Canada reject visas")
Expedite process of issuing visas to int'l students: Senators to US govt
There are over 100,000 Indian students in the US and they contribute significantly to the American economy.
Education platform MPOWER Financing raises $100 mn to support study abroad
The funding will fuel the company's mission to make North American education accessible to students from around the world
 "Education platform MPOWER Financing raises $100 mn to support study abroad")
UK opens new post-study work visa route for international students
The Graduate route is designed for international graduates who have been awarded their degree from a recognised UK university to stay on and look for work for at least two years.
Indian students to benefit from UK post-study visa deadline extension
Indian students are one of the largest groups of international students enrolling at UK universities over the past year
 "Indian students to benefit from UK post-study visa deadline extension")
Most students are likely to make it to US on time, say overseas consultants
As the US Mission to India opens July and August student visa appointments, students rush in to book dates from Monday
 "Most students are likely to make it to US on time, say overseas consultants")
