Why study Abroad?
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The scope of studying abroad has expanded over the years. Thanks to globalisation, students can now access the best of universities across the world. Studying abroad definitely provides students a macro-understanding of the world and keeps them highly competitive.
You can improve your understanding of global culture, economics and their inter-dependencies. You gain a different view of international affairs, politics and social issues. You may develop a new academic interest or perspective on your major while you are abroad. A stint at a university abroad allows you to study subjects that are not available at your home country. It gives you more than a nice boost to your resume and improves your post-graduate employment prospects, particularly if you’re considering a career in business, international affairs or government services.
Students and parents are aware that the cost of education has been on the rise ever since the rupee has been sliding. With the fluctuation in currency, students will have to shell out 15 per cent to 20 per cent more on everything, from their fees and education loan to living expenses, which could in turn increase the financial burden.
Although the fall in the rupee
seems to have shaken the aspiration of students willing to study abroad, it has
not shattered their dreams altogether, says the ASSOCHAM Report (The Associated
Chambers of Commerce and Industry of India) published in June. As always,
education is perceived as a long-term investment and financials are planned
years in advance, particularly when one looks for superior education in notable
and top-rated institutions abroad. Parents will also see that there is no
compromise on the quality of education to offset the increasing cost of studying
abroad. Therefore, the fluctuation in the rupee will not impact students’
decision to defer or cancel their plans of studying abroad. Although the
expenses have increased by about Rs. 3 - 4 lakh, it has not impacted the
decision-making processes. Anxious students and parents are making that extra
effort to re-organise their funds to pursue their dream. The potential return
that foreign education gives is the biggest reason for students applying to
( The writer is Product Manager, EF International Academy. )