Students Who Want To Study Abroad Now Have More Possibilities Thanks To New Visa Regulations: Read More!
Target Audience
INTERNATIONAL APPLICANTS
Program Overview
International student visa requirements are subject to frequent change. In recent years, there has been an increased focus on enticing international students to pursue studies overseas (Study Abroad). As a result, numerous countries have altered their visa regulations to make it simpler for students to get study authorizations and extend their stay after graduation.
The new modifications have an impact on how students choose to study abroad. A growing number of students from tier 2 and tier 3 cities are choosing overseas education and looking for education loans to close the funding gap between university course prices and own resources, according to data on the popularity of foreign education.
Students Who Want To Study Abroad Now Have More Possibilities Thanks To New Visa Regulations: Read More!
In an interesting interview with Financial Express Online, Rajesh Kachave, Chief Business Officer, Student Lending and Insurance Business, Avanse Financial Services, discusses how new visa requirements would affect students’ travel overseas and the shifting trends in the education industry.
International student visa requirements have changed throughout time. How have these modifications affected students’ choices towards studying abroad?
The rules governing international students’ visas have undergone substantial changes, and these changes have opened up a wide range of alternatives for Indian students who want to study abroad.
International student visa requirements have changed throughout time. How have these modifications affected students’ choices towards studying abroad?
The rules governing international students’ visas have undergone substantial changes, and these changes have opened up a wide range of alternatives for Indian students who want to study abroad.
These changes to the immigration regulation are now carefully considered by Indian students while making their choices. They consider things like the potential return on investment, how long it will take to find work, and how this fits into their financial plans and loan payback plans. In fact, changes to visa regulations have developed into a crucial factor influencing both the choice of a location for study abroad programs and the related financial preparation.
Indian students now carefully consider these changes to the visa regime when making their choices. They evaluate elements including the possibility of a return on investment, the time needed to find work, and how this fits into their financial plans and loan payback plans. In reality, changes to visa regulations have become a crucial factor in deciding where to study abroad and how to prepare financially for that endeavor.
The number of female students enrolling in higher education in India has also significantly increased, particularly in traditionally male-dominated disciplines like STEM (Science, Technology, Engineering, and Mathematics) programmes. Under 10% of women students were supported in FY2019–20 from cities in tier II and above. We noticed an increase in these cities’ contribution during FY2022-23. From these cities, the contribution of women has increased dramatically. For students receiving financial aid from smaller locations, the gender split is about equal.
What are the main causes of Indian students who want to study abroad having a rising demand for education loans?
The desire among students to receive a top-notch education has increased over time. Students opt to study abroad because they believe that exposure to diverse viewpoints and cultures is important for acquiring a global perspective.
Between 2017 and 2022, more than 30 lakh Indians pursued higher education abroad to fulfill their academic objectives, according to the Education Ministry.
The demand for education loans among Indian students hoping to study abroad is being driven by a number of factors. A key element is the escalating cost of higher education abroad. Education loans may be a way to fill the financial gap caused by high tuition costs, living expenditures, and other associated costs.
Indian students are also encouraged to look at chances overseas by the appeal of famous foreign universities and their desire for a top-notch education. Additionally, the competitive job market favors applicants with international exposure and credentials, which encourages students to pursue international education, even if it necessitates financial aid.
Financial institutions readily provide flexible and student-friendly loan choices in response to the rising demand, making it easier for students to access and manage. Together, these elements show how crucial student loans are becoming in realizing students’ dreams of studying abroad.
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