Studying abroad in uncertain times

Are geopolitical tensions and revised immigration policies forcing Indian students to look beyond the U.K. and the U.S. when it comes to higher studies abroad? There is no single answer to this. A report in the Economic Times says that the U.K.’s latest immigration white paper, having made seeking higher education in the country more challenging, has seen a 16% rise in applications. Similarly, despite the long wait for visa interviews, Indian students continue to apply to universities in the U.S.

Other shores

At the same time, reports in various Indian media suggest that students are looking towards Europe as well. Germany, which is known for its STEM education, has seen a 35% jump in applications. In the last academic year, there were 42,000 Indian students in that country.

France is also attracting international talent. An NDTV Education report states that international students in France will be 200% higher by 2030. Luis Vassy, Director of Sciences Po, Paris, expects a 30% increase in international applications to the university and expects that the dual programmes will see a larger exchange of students between India and France.

Indian students are also applying to countries like the Netherlands, Japan, South Korea, Singapore, Malaysia, and the UAE, which offer affordable tuition and living and post-study opportunities.

What to do

However, much like the U.S. and the U.K., the competition for top universities in these countries will also become steep. This requires meticulous planning both in terms of one’s profile and finances. A single study-abroad destination is not a viable plan even for those with a solid CV. Beyond ensuring that their academic profile is good, students also need to consider financial planning. They should look for lenders who offer not just attractive interest rates but also allow adjustments to the loan amount and currency. Given the recent geopolitical churn, creating a substantial cushion has also become more urgent to offset the rise in living costs and to take care of expenses in case there is a gap between completion of the course and landing a job.

With the new application strategy involving more universities across geographies than before, the to-do list has also expanded. Students may need to compose several admissions essays and SOPs, tailored to the format each university prescribes and the discipline being applied for. Navigating the complications of visas, flexible and borrower-friendly foreign education loans, admissions essays, SOPs, and language proficiency tests, among others, can be rather daunting for learners who are already juggling the workload of their courses in India.

The new foreign policies, trade wars, and a shifting geopolitical landscape don’t mean that the door is shut for Indians aiming for a premium foreign education. They indicate that the new world belongs to those who have made the effort to prepare.

The writer is Founder and CEO of Lorien Finance.