Most of them see study loan as an investment to permanently move to a foreign country. Having a degree in foreign country helps in landing a job there too.
It depends - some careers just need an undergraduate degree to succeed, others (and especially STEM careers) require some level of graduate or doctoral level attainment
I know a person who got into UK got good enough marks, but is jobless since 2 years and is on verge to be deported back to India, where the degree is almost useless.
This going abroad and getting successful used to work 5-6 years ago, but not anymore.
Now even abroad competition has increased by a fold while opportunities are declining.
Choosing the right country and the right course matters a lot.
Still the best course to actually settle abroad is NURSING.
this one acquaintance has a ug+ms from UCL and has to settle for a service role that he got through his father's connections as he's unable to find a job through his connections.
came across many people unable to find a job in uk in last 2 years.
This is very much your one friends personal experience. There's waaaaay more to getting a job than simply the degree. Goodluck to them, but you can't pick any degree, at any university, especially one that's completely useless outside of the UK (and in UK by the sounds of it) and just expect a job.
getting job in UK is hard and there has been too much immigration into UK, so they are trying to cutdown on immigration, not the best option for now IMO, and also too expensive
Sometimes it ends up being a great investment. Couple of my college seniors went to us to study and paid off their entire education loan in a couple of years. It's important to go to good colleges though, one of them went to UCLA and got a 230k offer straight out of college from FAANG.
Man you engineers are the real deal, even Harvard Graduates MBA rarely make this much money on their first job.
Even in India SDEs make at par or more than MBAs
Harvard grad is a vague term, what someone is majoring from is more important. SDEs making more than MBAs isn't weird, infact on the value creation and scale graph that's how it's supposed to be.
My relative sister did an MBA from Harvard, and her starting salary was around 170-190k.
That's why I said, I think SDE work is better, as you can do remote work easily and get fat checks too.
I was planning to do, dropped in between after scoring decent score in CAT.
Could you tell me,if you know little bit about masters in Stats.
Is it decent career path if someone wants to work remotely at his small town?
Combine it with a functional knowledge of a coding language like python and SQL and there's scope in data science but AFAIK know companies still prefer MBAs for these roles
Hey , did he went abroad for ug or pg . I am thinking whether I should do bachelors in India or go to abroad . Is it better to do masters there and bachelors in India?
What unis are alright to spend?
Like more than a specific answer, I want to know what's the bar?
How do you decide if it's alright to go to a certain Uni?
I got into UF for ms cs (cheap), but I'm just unsure of going cuz I "can" wait a for a year then apply to better unis like CMU idk.
Or you save time, like UK law is 3y after 12th plus about 6mo to be eligible to practice in India.
It’s 5 years here in colleges with vastly inferior infrastructure and lifestyle.
I decided to do law here for different reasons but it makes zero sense for one to study law here when you could go to Oxbridge or LSE or Kings or something, have an amazing 3 years, get international work ex, and save 2 years and some mental health along the way.
If I was restart 12th grade today, I wouldn’t even bother with India.
Cost wise, law from a good private uni here like BITS or Jindal is like 50-60l, in UK it will be like 80-90l plus living expenses. Honestly not a bad deal.
masters in most foreign countries is also 1year to 1.5 years unlike india which is 2 years, also believe it or not masters in india for a lot of good colleges cost more then a lot of unis abroad (excluding visa and living costs)
Dude no one wants to live in this countey except for delusional people, if given opportunity, everyone atleast 90 percent of the population will leave this country, this country is basically fcked
I have seen mostly people take loan of 25 to 30 lakh... and people do part time job in abroad too, so within how much time they can pay back their debt?
Part time jobs can cover the living expenses. As for the loan, it depends on your full time salary. I majored in CS and the job market is really bad right now. I am one of the few lucky international students who got a job.
Depends a lot on what you get a job as ?
I spent around 18L in my tuition fee in Canada.
I was living in a LCOL city due to COVID and my expenses were really low. I paid it off in a year :).
Even if you have to live in a HCOL city, even on an average income you can pay off that amount in about 2 years.
Usually 2 years or even less, assuming you have a STEM degree because the pay is pretty good after graduating and 30 lakhs loan is barely anything there.
Because they can easily pay it off once they land a job with their qualifications, and yeah it's something which adds prestige to their reputation i suppose.
ind ke top clgs mai adm nhi hua to tumhari degree ki koi value nhi so tum paise lga ke bahar se degree krke aao jo Tumhe avg si package milni thi ab with that "foreign" tag better opportunities milengi and its a fact
exactly, just wanna escape the pollution and bad living conditions, not to mention the cutthroat competition
studying gets you a post study work visa, and looking for jobs become easy, you can easily pay off the loan later and settle in with PR or resident,
Just because India ke top college me admission nhi hua doesn't mean u aren't capable or shouldn't have have access to top education, India me nhi hua coz yhan competition itna high hai cutoff se agr ek percent bhi kam hai toh nhi milta logo ko. So I think it's alright if they have the privilege to have it.
I knew a senior scientist at NPL, she had both her kids in prestigious schools, both her daughters wanted to be engineers. She made sure they get really good grades in 10th and 12th. (If i remember correctly, they both got 98.6 and 98.9 in boards). Her reason was,"the competition here is too much and since they are really good at studies, they can get much better opportunities in better universities." She made sure they both have a great profile, really good marks and she had the financial backing for both of them. Her daughters got 90% scholarships and for her, it was less than 10 lakhs in expenses per year for each of them.
I have had pretty much all my engineer friends take loans and go for masters and yes, they have landed jobs in exceptional companies with really good offers that allowed them to pay off the loan in 2-3 years. One guy paid his loan simply with his joining bonus. The opportunities you get cannot be compared with the opportunities you get here.
You know what's the worst thing about life, this, is the story you told.
Their mother was really self-aware about everything, meanwhile not just my parents but most are so outta touch with the reality that India is a poor country and here we have too much competition.
My dad just keeps crying about a govt job while not accepting the fact that me not being from SC/ST will have way less chance of actually getting something in India.
I have so many cousins abroad, they too keep saying to my dad that send him(me) abroad for my masters after bachelor's, but instead, he gave me an ultimatum that I will have to find a job after my bachelor's as he won't pay for any further studies of mine which is kind of fair.
But he indirectly meant that we won't allow you to study further(par mai to sununga hee nhi inki).
True. Many parents just pop out kids and thrust expectations on then without any proper guidance
They don't want to face the difficulties and rely on 3rd party teachers and outsiders to guide their kids
It makes a work permit easier. I moved abroad because i couldnt keep up with competition in India(not that there isnt much here, i learned that the hard way with a huge loan at a young age), and it also gives me the advantage of living a better lifestyle, as im not that rich in india and father wouldnt pay a dime for "awaarapanti", though i feel i just wanted to have a fairly normalized lifestyle, none of the branded clothes and foreign trips stuff. With no connections outside to hook me up with a job so education helped with that as well. Now that i am a citizen, and the loan paid off, im just saving to go back and have a comfortable independent life in India, and be able to take care of my parents properly with all the help that they may need. Most people similar to me have the same plans. Some who have are from rich backgrounds or are not so worried about their parents as they can take care of themselves or they dont wish to be as close to them for any of the many possible reasons - they choose to settle abroad and make use of their work permits so it feels like a fair price to them. Theres also a good chunk who do it for show off, and many of them end up in this category because they wont be able to sustain the same stories in India, and it is a bigger reason for them than staying with family. All in all, its a mixed bag
Most such students from upper middle and earning middle class don't even have to pay off the loans themselves. Their parents do. So for the kids - it's an easy opportunity to go abroad, live at a better standard, enjoy amenities, and enjoy life. If it doesn't work out - you can come back with decent t savings (currency conversion) and use that as capital for home/business, and take-up any normal job. Meanwhile for the parents as well - it's seemingly a status symbol that their kids are now settled abroad.
I meant caste system does not exist in UK and US, they do have class system which we also have in India.
From my personal experience, the Indians who can’t stop mentioning their caste in the beginning of every conversations are orthodox general category caste people. They will discriminate even against the other general caste people based on what God they worship and other sub divisions in the general caste itself. These people are the same in India as well so I consider them as lost cases
"India people", just say people, isn't it obvious you're talking about Indians on an Indian sub.
Edit : AND THIS IS NOT THE FIRST TIME I HAVE SEEN THIS.
Politics has ruined this country.....now everyone wants to leave this country.....rather than to correct things..
Sare neta mla mp ....even Pradhan of Village...... should come from a exams system and interview...
Those universities are coveted for a reason and just one person going there changes the lives of not just themselves but generations to come. There true and quality education to be gained. I’m not talking about the ones who are just going there to get PR but ones who are going to genuinely good universities
Imagine putting 3-4 years for an entrance exam and then your seat is taken by a scammer. The only way a middle class can have a decent lifestyle in India is mainly through such exams cuz believe it or not India isn't that developed to have market for other interests, even if such market exists the pay scale is low. So people take loans and move abroad cuz there at least they would get a fair chance
I think everyone has a different ambition out of life.
Some people have degrees that won't pay much in India, so they have no choice than to take risk and go abroad. Actually majority of people I've seen are such.
I mean, people take loans for weddings, for umpteen reasons - atleast some are taking for their career which will last for life rather than an event that may or may not guarantee you a lifelong partner...so
bhai i used to work in a study abroad startup. The no of people I came across who had 80-90L ka property in India + are taking loan of the same amount for their ms. They were usually cs/ds/engineering grads
And can u tell me about their current status
Im a ds graduate , and i just got a job in Feb
Im content with my job but worried about the scope in my current role
Was never inclined for going abroad for studies but rethinking a decision
Wanna do MBA next year , is it a good option ?
bhai from what I've heard from people who've recently graduated, the job scene is very tight.
Depends on what country you'll be applying to. I personally would suggest you to get at least 2-3yrs work experience. Baaki see how things change.
I went through your profile and I only have one piece of advice for you. Get off the internet, this is the second time I've said this.
To answer your question, yes studying in foreign is a better choice for many people; easier to get a job and you can easily pay off the loan once you start earning, yes its a grind to get there, study, manage expenses but at the end of day they're making a better future for themselves and their family.
Also those who call these people out for leaving their mother nation are secretly wishing to be in their place.
No one goes to those universities to study. Those who go to such universities mostly have rich parents. They live abroad for 1-2 years, have fun, come back and start helping with their family businesses.
People I know have mostly gone to Ivy Leagues.
I know a person who took a loan, couldnt get a job abroad, came back, and now repaying the loan. Only take a loan if that amount is affordable by u or ur family
Short answer for a better life. Unfortunately India doesn't give talent, skill, effort it's due in terms of finances and comforts of every day life.
Life is too short to compromise if you have an alternative like going abroad and building yourself the life you desire.
I think it’s obvious, no? Good quality life if at least not me then for my kids. We all know first world countries does not have silly problems like India. Roads with pot holes, poor AQI, costly cars, expensive house with no sense, water problems, power cut offs, littering everywhere, people with no civic sense take from wrong side driving or spitting, poor and dirty public transports, what me to add more or it’s understandable?
Also not denying, some first world countries have their own problems, climate, gun problem, hate Indians etc.
1. Looking for a financial angle, you get tax deductions if you take a loan. An investment of an amount will always outperform a loan of the same amount. That means the investment gain on 1Cr will be more than the interest payment when you repay your load.
2. Its more secure. A lot of bank now offer collateral free load to some extent, so if youre unable to find a job and worst case worst you have to default, you have nothing to lose.
Indians like imported things, most of my friends and I, have all done at least 1 degree in either UK or US, not with the intention of settling there but because you get offered better postions and higher salaries when you're back in India. And believe it or not, in some fields it costs less to do your masters from outside than it to do it from India. This is especially true for the medical field, where PG in India ( private ) is far more expensive than doing something in the UK.
In certain cases, even without scholarships it's cheaper and you have great future prospects.
Take Germany for example, masters over 2 years cost me 11lakhs, of which I was able to save 3 lakhs. So 8 lakh over 2 years for a master's in chemical engineering. I was able to earn that money back in 3 months after which, I can get the citizenship in another 3 years.
In India, I'll always be a GEM (general engineer male), and have to run around multiple companies in the middle of nowhere to make 20L a year.
Background: middle-class, maybe upper-middle class, nobody in the family was an engineer. Mom had a govt job but not super well payed
Whether we want to agree it or not, the job opportunities in other countries is way better than our’s.
Due to sheer population, the number of graduates churning out every year and the job generation is inversely proportional.
Hence people take loans to study in another country and settle there.
You really have no idea about taxes, the difference in prices, rents, higher cost of living, all these things.
I have my brother who is in the US, and half of my family there, I can save way more than them and earn way more eventually, I'm a doctor.
Not everyone has a cozy job in india, more often than not people working abroad save wayy more than in india but only if you consider coming back. If you're thinking of settling abroad then you have to think in that currency. Maybe your goals of buying a house etc are now achievable in india but still unachievable in that country.
I think it all comes down to travel.
When they decide to go to different countries for holidays then they eventually spend less because of dollar exchange rate than us spending in rupees.
Also the environment conditions, roads , public transport and basic infrastructure is up to the mark which adds up to more day to day comfort in living.
Yes that is true, but then I can afford to travel all over the world.
The environment conditions and these things are true.
But, then you don't get the luxury of basic stuff like a helper, if you're a female and pregnant,can't afford basic stuff like a nanny for the baby and so on.
Ageing parents, if they refuse to come with you are all alone in their old age.
Many things.
You can't visit a doctor whenever you want.
There are pros and cons on both sides.
Maybe I'm from an upper middle class family and hence the comfort I find here, is immense compared to the US.
But for someone who is lower middle/middle might have upliftment by going.
Yeah , Helper and nannies are hard to find and also damn expensive.
But yes, there are countries which offer free healthcare and education to their citizens.
Personally my favourite countries are Netherland , Sweden Franch and Switzerland types .
They are far much better than north Americans countries.
Highly recommended going cycling in the vallies of one of these European beauties. (If you get a chance)
You want good engineers? Go fucking remove the import taxes on electronics so that laptop and other devices prices can go down.
Neither the govt wants to set up manufacturing in India, kaise karenge ache engineers to challe gye chodhke India, nor want to improve the education by working on improving tier 3 colleges rather than just building IITs/IIMs/AIIMS.
I do have idea about taxes. Im in tech so things might be different. But 1 crore is literally the absolute lowest you can get in my field. Maybe its different for doctors. But next time try to understand viewpoints before going crazy about how someone has no idea
Because their family has black money that they can't launder. But if you take a loan and use your black money to pay back the loan, your money gets washed.
its easier to get job in the country you do your degree from, so lot of people doing mba/ms in US,UK,Singapore do so cuz they want to get job and settle in that country
If it’s an Ivy League university, then taking loan to study is definitely worth it, because of the people you meet there. Else it’s just waste of money and you will be in a debt trap.
Tip: Research for colleges that offer Assistantships, which offers a tuition waiver, so that there would be no money burden on you.
I did my masters in a foreign country and while doing that, I could work in a full time job there by changing my visa. I earned my entire two years course fee, my expenses for two years with my one year salary itself.
And when I returned to India, I received the recruiters offered me the top range salaries in my experience level(they took my INR converted abroad salary as current CTC and was telling they cannot match it in India, but were offering the highest in their available budget).
So for me, it was worth taking that risk.
I’m thinking of taking loan too for study cos I don’t see any other way to go abroad.
No matter how much you make here , it never feels enough. The tax system and quality of life is so bad.
Last time I tried applying thru a consultant but got duped for over 3lakh.
I talked to a guy who studying in UK, he told me you can do these things by your own.. Just apply your academic or other documents on university website directly.. they will inform you. Ow these consultancy will charge aprox 15 to 20 % commission.
Great ROI if you go to a good college, if you are taking a loan to study in a community college or any of such level, then those are straight up dumb and wasting their parent’s money.
In some fields there is bleak future unless you go abroad. Some good examples are biotech and hospitality. Many of them aim to settle abroad after completing their studies
For several masters abroad, the ROI is better than doing one in India. It's also a gateway to work in a country where you can save more or have a better work life balance.
In my family, it was mainly for better quality of life, exposure, and subsequent better pay.
My ex went to do some course in English literature (in UK), after her PhD in India, cos she wanted some exposure to the lifestyle there.
I think it is a must for any Indian girl who wants to experience western freedoms, infrastructure and rights.
If I have daughters, I will make sure they get to study in Europe/Canada/US/Dubai.
People take loan do masters or bachelors from abroad in order to go there on study visa. During that time they search for jobs and later on settle abroad.
im including inflation and other lauda lassun, my job is to send these fuckers out of India and financing NRIs so I have exact idea of their income, wealth and expenses. US is a country which wont let you fail.
Dude because they dont want to live here, no jobs, competitve exams, country overall is pretty fcked and thats the truth, so they just go abroad, study there, work there, start a family there and quit india as a whole
Because they seek permanent residence and citizenship in those countries. And then if they don't get it by the time their visas expire, they do mass protests and hunger strikes in an attempt to remain there.
I lived abroad for over 12 years in about 9 countries and the Company I worked with took many freshers as interns or full time. In my opinion unless it's top A class University Or your family is well to do and can afford your expenses outside, other than that it does not make sense to take debt and study abroad.
Dream of studying abroad or better life is fine with your own money but absolutely not on debt.
If you think foreign visa is an escape route to better life without hardwork and pain then you are wrong. Even there to succeed you will have to work hard and in most countries, you will be a second class citizen.
So please do not burden your parents with debt for a dream of yours. Work hard and you will get plenty of chances to work abroad. Your target should be excellence in your area of work... Success, foreign work, etc. Will come to you.
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I'm going to study abroad and will most probably take a loan
The package after my masters will compensate for the loan in no time
Better living conditions,things are cheaper there,my dream luxury car costs half of what it costs here,my favourite Nike shoes cost much lesser,a pro iPhone costs 40-50k lesser, something like work life balance actually exists,when I return home from office, I'd take less than 20 minutes to reach home unlike in Indian cities (Mumbai Delhi Bangalore etc)where it takes an hour or more
Most importantly, I get the benefits of the taxes I pay,like health insurance, social security (these things are unheard of in India coz my tax money goes into catering rice for 80 crore out of 140 crore people)
Also clean roads without potholes,civic sense among people,24/7 electricity and water
So yeah studying abroad and working and settling there is totally worth it according to me, I love my India tho and proud of it's growth,but these ground level things haven't changed
Also isme show off kaha se aaya bhai? log apna career banane keliye jaate hai loan leke aur visa ka intazar karte hue,yeh sab showoff keliye thodi hota hai lol
I said show off in sense most of the people just chasing the crowd without thinking their own pocket.
bro well said, so you mean luxury is cheaper in abroad as compare to india?
>bro well said, so you mean luxury is cheaper in abroad as compare to india?
Yeah absolutely, while I'd agree household necessities,house help n labour and daily groceries can be much cheaper in India
But after a certain point you don't just buy this right?you want luxury,like good consumer tech,big quality house, luxury car
I'd really want to visit popular tourist destinations in the world like Switzerland and other European countries, Australia,USA,Japan,etc and maybe a luxury trip at that
But the thing is value of Indian currency is also very low and such trips abroad are not at all affordable,like 90000 inr gives you just 1000 euros
Meanwhile if you are working abroad and earn in any kind of dollar,euro,pound,or any other currency, they're usually much higher in value and a trip abroad doesn't really cost you your bank account,and can be just 10-20% more expensive, meanwhile in India the converted price is just insane,if I go to a luxury restaurant in Paris,the bill may come to 60 euros,and if I'm earning in dollar for example,that's 65 dollars for me which I don't mind paying(it is still very expensive)but in Indian currency that's that's almost 5400-5.5k which is insanely expensive for a person earning a good Indian salary
You can pay off your entire loan within an year or two while living comfortably, the pay difference is that huge. We just moved to Canada and i have been working in the same field as I was in India, doing the same work and we have been living on a single income right now. Even then we have been able to comfortably afford to rent an apartment. Even furnished the entire apartment within a month’s salary. In India, buying just a TV would have cost my entire month’s salary. Hence, people prefer to move out even if they have to take a loan.
For some it is delusion. My uncle stole our family land, mortgaged it, defaulted on the loan. But his son is in Canada. They are not educated, cultured, basic English speaking, no value for education. It is just one of my uncle's get rich quick scheme .
He wants the whole family to join him in Canada
It’s more of an investment for their future. Less competition and for some places like Canada a student can literally complete their undergrad, work at a fast food chain and get a PR in a year. They don’t even need to get a job in their field. Once they have the PR they can easily do masters for pennies or up skill to apply for roles they studied for while being permanent resident.
It usually is only worth it if you go to countries that have a stable job market for skilled labour, eg - USA, Ireland, Germany.
If people go to countries like Canada, UK, Australia, it leads to a very poor return on investment because of lower wages and a very tight job market for foreigners.
UK is probably the worst for Indians to go to because of strict immigrant labour laws and the exorbitant university fees and cost of living.
People consider it as an 'easier' plan to settle abroad. It's too expensive to do undergrad abroad, and it's difficult to get a job abroad right after college unless you're very competent.
Not sure about others but I can tell my case. I wanted to work on chip designing as I was interested in circuits. Hence, I opted for Btech in ECE. But after btech, none of the core ECE companies came for recruitment in my college as it wasn’t a top tier college. I didn’t want to go into software development so I pursued MS from US, specialising in VLSI Design and Computer Architecture. This helped me elevate my profile and I could get jobs in semiconductor industry in India. I came back after finishing my degree and paid off the loan in the next 3 years. Now I am pretty happy with my current job profile and enjoy what I do.
May I ask few questions?
1 What was your loan amount?
2 How much the course cost to you with all living expenses in US?
3 Have you noticed that you got decent package in india with your international degrees?
1. Loan amount was around 20-25 lacs. My masters was 2015-2017. I worked a part time job as a receptionist to manage my living expenses in the first year. In the second year, I became a TA, which increased my salary as well as gave me a partial scholarship.
2. Course cost varies a lot from university to university so you will have to check their website.
3. Yes, I think my package was decent for a fresher when I applied to jobs in India
Show off ? Idk ! Moving abroad is all for better job prospects, quality of life and education for your kids.
Tuition fees for international students can go Upto $100,000 in USA 🇺🇸 or 60-80K CAD in 🇨🇦 or £30k in 🇬🇧 now obviously an average family of 4 in India, being a Salaried employee earns approx 10-12LPA, then he pays taxes, then pays off his insurances and then EMIs after that one has to teach their child in Pvt. Schools for his child bcz govt schools aren’t in a good shape. How much do u expect such a man to save in his lifetime ? So the kids, how will they ask their parents for money ?
Now they have 2 options either stay in India earn Upto 20-30LPA with insecure jobs and see the inflation hit again, and repeat the same cycle as your parents, or take the risk, take the debt and go abroad for international studies, which is a path way to get a job in that country, which can eventually lead to PR and Citizenship. It’s a big risk no doubt, and can only be paid off if they get a job abroad after their masters, and if they don’t, then it’s an even scarier situation to pay that debt earning in INR. Hope that answers your question.
Great Answer.. 👍
However out of 100 how many people find themselves unable to payback debt?
You tell insecure job in India.. so you mena pvt job are secure in abroad?
Now here’s the thing if u go abroad in a medical field or engineering domain with a good market research, u can manage to pay back the debt in about 2-3yrs of time while earning in $$$
Assuming the worst case scenario that u only get to work in OPT period for 2 years in USA STEM, and no luck at H1B lottery. Or 2 year PSW Work Visa in 🇨🇦 or 🇬🇧.
However a lot of people go with unnecessary courses like geology, history, psychology without prior market research and eventually end up with the vicious debt trap. They should be more careful before taking such a huge debt.
The reasons for going abroad vary for each individual and are often correlated with their success. These reasons can include seeking a different quality of life, exposure to international education, higher earnings to send back home, the ability to travel to many countries, scholarships, and more.Generally, people with good scores who focus on getting into reputable universities remain stable despite taking loans. However, choosing a university is a tricky and risky gamble, and thus a very careful decision must be made. While there are many success stories, including my own, there are also cases where individuals have taken hasty steps and paid the price.
I am one of these Indian people. Unlike the usual group of people who go for master's, I went for undergrad so my loan was a lot more than master's since undergrad is 4 years. My reasons for going abroad were:
1. I wanted to pursue chemical engineering. Plenty more opportunities in core chemical jobs in the US and a lot more lucrative. College education in US is more practical and industry based.
2. I belong to the general category so I'm not gonna add anything more there.
3. You get to interact with a lot more diverse group of people. The majority of master's demographics tend to be Indian or Chinese.
As for paying the loans, I did a 3 term internship that helped me pay off a semester worth. My dad helped a lot by paying for the interest since day 1 so I won't be swamped when I graduate and start repaying. I was able to pay off my loans in under 3 years.
I took a loan about 7 years back. Now have 5 years of work experience in USA. I own 5 properties, two cars and my net worth is very close to seven figures. And no, I have never studied at a tier 1 college in either India or US. The loan I took gave me the chance to make money in the world’s largest economy. It is a no brainer if you want to come here truly for education and to further your career. Funny enough, most kids come here for the fun, party and the show off part of it. An easy way to find them is to look for those who are busy making reels about their life abroad. Cheers.
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Most of them see study loan as an investment to permanently move to a foreign country. Having a degree in foreign country helps in landing a job there too.
For STEM courses this is the way!
It depends - some careers just need an undergraduate degree to succeed, others (and especially STEM careers) require some level of graduate or doctoral level attainment
I know a person who got into UK got good enough marks, but is jobless since 2 years and is on verge to be deported back to India, where the degree is almost useless.
This going abroad and getting successful used to work 5-6 years ago, but not anymore. Now even abroad competition has increased by a fold while opportunities are declining. Choosing the right country and the right course matters a lot. Still the best course to actually settle abroad is NURSING.
Yeah he probably went to a garbage university and just wasted his money. Unless you're in a Russell group uni, your degree in the UK is worthless.
this one acquaintance has a ug+ms from UCL and has to settle for a service role that he got through his father's connections as he's unable to find a job through his connections. came across many people unable to find a job in uk in last 2 years.
Exceptional cases will always be there. It is still surprising that he could not land a job in the UK. Is the job market bad in the UK?
This is very much your one friends personal experience. There's waaaaay more to getting a job than simply the degree. Goodluck to them, but you can't pick any degree, at any university, especially one that's completely useless outside of the UK (and in UK by the sounds of it) and just expect a job.
Which university if I may ask
Durham I think, don't remember exactly.
getting job in UK is hard and there has been too much immigration into UK, so they are trying to cutdown on immigration, not the best option for now IMO, and also too expensive
Sometimes it ends up being a great investment. Couple of my college seniors went to us to study and paid off their entire education loan in a couple of years. It's important to go to good colleges though, one of them went to UCLA and got a 230k offer straight out of college from FAANG.
Man you engineers are the real deal, even Harvard Graduates MBA rarely make this much money on their first job. Even in India SDEs make at par or more than MBAs
Harvard grad is a vague term, what someone is majoring from is more important. SDEs making more than MBAs isn't weird, infact on the value creation and scale graph that's how it's supposed to be.
My relative sister did an MBA from Harvard, and her starting salary was around 170-190k. That's why I said, I think SDE work is better, as you can do remote work easily and get fat checks too.
Yes MBA jobs are equally stressful ☠️
I was planning to do, dropped in between after scoring decent score in CAT. Could you tell me,if you know little bit about masters in Stats. Is it decent career path if someone wants to work remotely at his small town?
Combine it with a functional knowledge of a coding language like python and SQL and there's scope in data science but AFAIK know companies still prefer MBAs for these roles
MBA from harvard? guide me dawg i wanna go 😭
She was a beast in studies
Hey , did he went abroad for ug or pg . I am thinking whether I should do bachelors in India or go to abroad . Is it better to do masters there and bachelors in India?
Yes they went for MS.
Depends on the uni.
What unis are alright to spend? Like more than a specific answer, I want to know what's the bar? How do you decide if it's alright to go to a certain Uni? I got into UF for ms cs (cheap), but I'm just unsure of going cuz I "can" wait a for a year then apply to better unis like CMU idk.
Should I be worried about saturation?
Can't comment on that, all of that depends on your profile.
Sometimes study in Abroad a lot cheaper than india... (Medicine)
Or you save time, like UK law is 3y after 12th plus about 6mo to be eligible to practice in India. It’s 5 years here in colleges with vastly inferior infrastructure and lifestyle. I decided to do law here for different reasons but it makes zero sense for one to study law here when you could go to Oxbridge or LSE or Kings or something, have an amazing 3 years, get international work ex, and save 2 years and some mental health along the way. If I was restart 12th grade today, I wouldn’t even bother with India. Cost wise, law from a good private uni here like BITS or Jindal is like 50-60l, in UK it will be like 80-90l plus living expenses. Honestly not a bad deal.
masters in most foreign countries is also 1year to 1.5 years unlike india which is 2 years, also believe it or not masters in india for a lot of good colleges cost more then a lot of unis abroad (excluding visa and living costs)
This is how my grandpa did law lol
It's a gateway to get out of the country. Many people don't see their future in this country.
Of course they don't. Nobody with money wants to die in this gas chamber of heat and pollution.
And pathetic one sided laws for women and corrupted politicians and police themselves are the biggest goons.
Dude no one wants to live in this countey except for delusional people, if given opportunity, everyone atleast 90 percent of the population will leave this country, this country is basically fcked
I got a job in US and I will pay back my loan from the joining bonus
I have seen mostly people take loan of 25 to 30 lakh... and people do part time job in abroad too, so within how much time they can pay back their debt?
Part time jobs can cover the living expenses. As for the loan, it depends on your full time salary. I majored in CS and the job market is really bad right now. I am one of the few lucky international students who got a job.
Which college you graduated from?
Depends a lot on what you get a job as ? I spent around 18L in my tuition fee in Canada. I was living in a LCOL city due to COVID and my expenses were really low. I paid it off in a year :). Even if you have to live in a HCOL city, even on an average income you can pay off that amount in about 2 years.
Usually 2 years or even less, assuming you have a STEM degree because the pay is pretty good after graduating and 30 lakhs loan is barely anything there.
Because they can easily pay it off once they land a job with their qualifications, and yeah it's something which adds prestige to their reputation i suppose.
And this is the easiest way to go away from their toxic families or leaving the country.
ind ke top clgs mai adm nhi hua to tumhari degree ki koi value nhi so tum paise lga ke bahar se degree krke aao jo Tumhe avg si package milni thi ab with that "foreign" tag better opportunities milengi and its a fact
Not true in most cases, sometimes people want a better society and quality of life. Let alone privacy and freedom.
exactly, just wanna escape the pollution and bad living conditions, not to mention the cutthroat competition studying gets you a post study work visa, and looking for jobs become easy, you can easily pay off the loan later and settle in with PR or resident,
Just because India ke top college me admission nhi hua doesn't mean u aren't capable or shouldn't have have access to top education, India me nhi hua coz yhan competition itna high hai cutoff se agr ek percent bhi kam hai toh nhi milta logo ko. So I think it's alright if they have the privilege to have it.
Fuck packages, i just want a normal life just not in India.
Username checks out?
Totally Agree, I have seen my friends doing it. They were jealous of me when I got into IITs but now they are showing off being in USA
It's not that easily repaid unless you get pr
PR is not the answer to everything
I knew a senior scientist at NPL, she had both her kids in prestigious schools, both her daughters wanted to be engineers. She made sure they get really good grades in 10th and 12th. (If i remember correctly, they both got 98.6 and 98.9 in boards). Her reason was,"the competition here is too much and since they are really good at studies, they can get much better opportunities in better universities." She made sure they both have a great profile, really good marks and she had the financial backing for both of them. Her daughters got 90% scholarships and for her, it was less than 10 lakhs in expenses per year for each of them. I have had pretty much all my engineer friends take loans and go for masters and yes, they have landed jobs in exceptional companies with really good offers that allowed them to pay off the loan in 2-3 years. One guy paid his loan simply with his joining bonus. The opportunities you get cannot be compared with the opportunities you get here.
You know what's the worst thing about life, this, is the story you told. Their mother was really self-aware about everything, meanwhile not just my parents but most are so outta touch with the reality that India is a poor country and here we have too much competition. My dad just keeps crying about a govt job while not accepting the fact that me not being from SC/ST will have way less chance of actually getting something in India. I have so many cousins abroad, they too keep saying to my dad that send him(me) abroad for my masters after bachelor's, but instead, he gave me an ultimatum that I will have to find a job after my bachelor's as he won't pay for any further studies of mine which is kind of fair. But he indirectly meant that we won't allow you to study further(par mai to sununga hee nhi inki).
True. Many parents just pop out kids and thrust expectations on then without any proper guidance They don't want to face the difficulties and rely on 3rd party teachers and outsiders to guide their kids
It makes a work permit easier. I moved abroad because i couldnt keep up with competition in India(not that there isnt much here, i learned that the hard way with a huge loan at a young age), and it also gives me the advantage of living a better lifestyle, as im not that rich in india and father wouldnt pay a dime for "awaarapanti", though i feel i just wanted to have a fairly normalized lifestyle, none of the branded clothes and foreign trips stuff. With no connections outside to hook me up with a job so education helped with that as well. Now that i am a citizen, and the loan paid off, im just saving to go back and have a comfortable independent life in India, and be able to take care of my parents properly with all the help that they may need. Most people similar to me have the same plans. Some who have are from rich backgrounds or are not so worried about their parents as they can take care of themselves or they dont wish to be as close to them for any of the many possible reasons - they choose to settle abroad and make use of their work permits so it feels like a fair price to them. Theres also a good chunk who do it for show off, and many of them end up in this category because they wont be able to sustain the same stories in India, and it is a bigger reason for them than staying with family. All in all, its a mixed bag
Yo, which uni/course if I may ask, also did you go via sat or some other exam?
Bro i mean it's simple They do this as if they do masters in foreign it will be easy for them to get a job in foreign
For a better economic situation after they land a job, better living conditions.
Most such students from upper middle and earning middle class don't even have to pay off the loans themselves. Their parents do. So for the kids - it's an easy opportunity to go abroad, live at a better standard, enjoy amenities, and enjoy life. If it doesn't work out - you can come back with decent t savings (currency conversion) and use that as capital for home/business, and take-up any normal job. Meanwhile for the parents as well - it's seemingly a status symbol that their kids are now settled abroad.
To migrate and have a better life. If you get a job, you can pay back the loan If you don’t, you’re in trouble It’s a gamble
because foreign countries have better opportunities 100x better than INDIA especially for general category people who get nothing in India.
Fax
Caste does not exist outside India
Oh they do. Indians do take their caste with them when they go abroad.
I meant caste system does not exist in UK and US, they do have class system which we also have in India. From my personal experience, the Indians who can’t stop mentioning their caste in the beginning of every conversations are orthodox general category caste people. They will discriminate even against the other general caste people based on what God they worship and other sub divisions in the general caste itself. These people are the same in India as well so I consider them as lost cases
i mean in india general category people get nothing and have better opportunity outside india
"India people", just say people, isn't it obvious you're talking about Indians on an Indian sub. Edit : AND THIS IS NOT THE FIRST TIME I HAVE SEEN THIS.
Or maybe just say Indians… India people even on a foreign sub would sound weird to me.
Politics has ruined this country.....now everyone wants to leave this country.....rather than to correct things.. Sare neta mla mp ....even Pradhan of Village...... should come from a exams system and interview...
If you've ever prepared for jee or neet and you're general you would have known this
Those universities are coveted for a reason and just one person going there changes the lives of not just themselves but generations to come. There true and quality education to be gained. I’m not talking about the ones who are just going there to get PR but ones who are going to genuinely good universities
Imagine putting 3-4 years for an entrance exam and then your seat is taken by a scammer. The only way a middle class can have a decent lifestyle in India is mainly through such exams cuz believe it or not India isn't that developed to have market for other interests, even if such market exists the pay scale is low. So people take loans and move abroad cuz there at least they would get a fair chance
I think everyone has a different ambition out of life. Some people have degrees that won't pay much in India, so they have no choice than to take risk and go abroad. Actually majority of people I've seen are such. I mean, people take loans for weddings, for umpteen reasons - atleast some are taking for their career which will last for life rather than an event that may or may not guarantee you a lifelong partner...so
India people ❎ Indians ✅
bhai i used to work in a study abroad startup. The no of people I came across who had 80-90L ka property in India + are taking loan of the same amount for their ms. They were usually cs/ds/engineering grads
And can u tell me about their current status Im a ds graduate , and i just got a job in Feb Im content with my job but worried about the scope in my current role Was never inclined for going abroad for studies but rethinking a decision Wanna do MBA next year , is it a good option ?
bhai from what I've heard from people who've recently graduated, the job scene is very tight. Depends on what country you'll be applying to. I personally would suggest you to get at least 2-3yrs work experience. Baaki see how things change.
Because they can....
I went through your profile and I only have one piece of advice for you. Get off the internet, this is the second time I've said this. To answer your question, yes studying in foreign is a better choice for many people; easier to get a job and you can easily pay off the loan once you start earning, yes its a grind to get there, study, manage expenses but at the end of day they're making a better future for themselves and their family. Also those who call these people out for leaving their mother nation are secretly wishing to be in their place.
I am soon gonna leave my android phone, so thinking to discuss relevant things. 😊 btw good reply 👍
Because the education abroad is 100 times better than what it is here.
Not necessarily. Many universities abroad are sham as well. Many provide inadequate education compared to Indian ones.
No one goes to those universities to study. Those who go to such universities mostly have rich parents. They live abroad for 1-2 years, have fun, come back and start helping with their family businesses. People I know have mostly gone to Ivy Leagues.
Of course Ivy League Wale to better education ki wajah se hi jaate hai. Lekin kaafi sare is wajah se bhi jaate hai ghatiya universities me
what is "showing off" related to studies?? bruh
i am considering going abroad for my ms but literally like my reason is the best college that offers ms in cybersecurity at India is Amity university
Sarcasm detected.
Matlab?
Best college in the world ? It's Sharda University bro "The world is here, where are you?"
I know a person who took a loan, couldnt get a job abroad, came back, and now repaying the loan. Only take a loan if that amount is affordable by u or ur family
Short answer for a better life. Unfortunately India doesn't give talent, skill, effort it's due in terms of finances and comforts of every day life. Life is too short to compromise if you have an alternative like going abroad and building yourself the life you desire.
I think it’s obvious, no? Good quality life if at least not me then for my kids. We all know first world countries does not have silly problems like India. Roads with pot holes, poor AQI, costly cars, expensive house with no sense, water problems, power cut offs, littering everywhere, people with no civic sense take from wrong side driving or spitting, poor and dirty public transports, what me to add more or it’s understandable? Also not denying, some first world countries have their own problems, climate, gun problem, hate Indians etc.
1. Looking for a financial angle, you get tax deductions if you take a loan. An investment of an amount will always outperform a loan of the same amount. That means the investment gain on 1Cr will be more than the interest payment when you repay your load. 2. Its more secure. A lot of bank now offer collateral free load to some extent, so if youre unable to find a job and worst case worst you have to default, you have nothing to lose.
Indians like imported things, most of my friends and I, have all done at least 1 degree in either UK or US, not with the intention of settling there but because you get offered better postions and higher salaries when you're back in India. And believe it or not, in some fields it costs less to do your masters from outside than it to do it from India. This is especially true for the medical field, where PG in India ( private ) is far more expensive than doing something in the UK.
Isn’t it cheaper to study abroad than to study in india and paying the ‘admission fees’ and ‘donations’ ?
In certain cases, even without scholarships it's cheaper and you have great future prospects. Take Germany for example, masters over 2 years cost me 11lakhs, of which I was able to save 3 lakhs. So 8 lakh over 2 years for a master's in chemical engineering. I was able to earn that money back in 3 months after which, I can get the citizenship in another 3 years. In India, I'll always be a GEM (general engineer male), and have to run around multiple companies in the middle of nowhere to make 20L a year. Background: middle-class, maybe upper-middle class, nobody in the family was an engineer. Mom had a govt job but not super well payed
GEM made me chuckle!
Whether we want to agree it or not, the job opportunities in other countries is way better than our’s. Due to sheer population, the number of graduates churning out every year and the job generation is inversely proportional. Hence people take loans to study in another country and settle there.
Starting salary in US - 1cr Starting salary in india - 5 lakh Need i say more?
No need say more if this is fact.
5 lakh bhi kaha 😂 Btech walo ko 3 lpa milti h
USD 120K starting salary for everyone...wut??
You really have no idea about taxes, the difference in prices, rents, higher cost of living, all these things. I have my brother who is in the US, and half of my family there, I can save way more than them and earn way more eventually, I'm a doctor.
Not everyone has a cozy job in india, more often than not people working abroad save wayy more than in india but only if you consider coming back. If you're thinking of settling abroad then you have to think in that currency. Maybe your goals of buying a house etc are now achievable in india but still unachievable in that country.
I think it all comes down to travel. When they decide to go to different countries for holidays then they eventually spend less because of dollar exchange rate than us spending in rupees. Also the environment conditions, roads , public transport and basic infrastructure is up to the mark which adds up to more day to day comfort in living.
Yes that is true, but then I can afford to travel all over the world. The environment conditions and these things are true. But, then you don't get the luxury of basic stuff like a helper, if you're a female and pregnant,can't afford basic stuff like a nanny for the baby and so on. Ageing parents, if they refuse to come with you are all alone in their old age. Many things. You can't visit a doctor whenever you want. There are pros and cons on both sides. Maybe I'm from an upper middle class family and hence the comfort I find here, is immense compared to the US. But for someone who is lower middle/middle might have upliftment by going.
Yeah , Helper and nannies are hard to find and also damn expensive. But yes, there are countries which offer free healthcare and education to their citizens. Personally my favourite countries are Netherland , Sweden Franch and Switzerland types . They are far much better than north Americans countries. Highly recommended going cycling in the vallies of one of these European beauties. (If you get a chance)
You want good engineers? Go fucking remove the import taxes on electronics so that laptop and other devices prices can go down. Neither the govt wants to set up manufacturing in India, kaise karenge ache engineers to challe gye chodhke India, nor want to improve the education by working on improving tier 3 colleges rather than just building IITs/IIMs/AIIMS.
I do have idea about taxes. Im in tech so things might be different. But 1 crore is literally the absolute lowest you can get in my field. Maybe its different for doctors. But next time try to understand viewpoints before going crazy about how someone has no idea
*Income Purchase parity*
Starting salary of India 5L? Bullshit
see the rank inflqtion of this year in every exam, you will know...
Because their family has black money that they can't launder. But if you take a loan and use your black money to pay back the loan, your money gets washed.
Because acche din never came
its easier to get job in the country you do your degree from, so lot of people doing mba/ms in US,UK,Singapore do so cuz they want to get job and settle in that country
I feel there is no real reason to study abroad unless you wanna settle down there, again each to his own. This is my personal opinion
If it’s an Ivy League university, then taking loan to study is definitely worth it, because of the people you meet there. Else it’s just waste of money and you will be in a debt trap. Tip: Research for colleges that offer Assistantships, which offers a tuition waiver, so that there would be no money burden on you.
I did my masters in a foreign country and while doing that, I could work in a full time job there by changing my visa. I earned my entire two years course fee, my expenses for two years with my one year salary itself. And when I returned to India, I received the recruiters offered me the top range salaries in my experience level(they took my INR converted abroad salary as current CTC and was telling they cannot match it in India, but were offering the highest in their available budget). So for me, it was worth taking that risk.
so what should be the loan amount one can easily payback within years?
Depends on the country, pay you receive there, your qualifications etc na. For me the fees was 35 lakhs inr for two years.
Which course and which country?
Reservation
I’m thinking of taking loan too for study cos I don’t see any other way to go abroad. No matter how much you make here , it never feels enough. The tax system and quality of life is so bad. Last time I tried applying thru a consultant but got duped for over 3lakh.
I talked to a guy who studying in UK, he told me you can do these things by your own.. Just apply your academic or other documents on university website directly.. they will inform you. Ow these consultancy will charge aprox 15 to 20 % commission.
Yeah this is what I’m thinking now,let’s see how it goes.
Great ROI if you go to a good college, if you are taking a loan to study in a community college or any of such level, then those are straight up dumb and wasting their parent’s money.
In some fields there is bleak future unless you go abroad. Some good examples are biotech and hospitality. Many of them aim to settle abroad after completing their studies
1. Perceived Quality of Education 2. Employability and Career Prospects 3. Immigration and Settlement Opportunities 4. Social Status, Prestige, etc.
what about racism?
My friend got a job in Expedia. He paid the loan off in 1.5 years. Same story for another one, 2 years.
Risk to reward ratio is good
For several masters abroad, the ROI is better than doing one in India. It's also a gateway to work in a country where you can save more or have a better work life balance.
You can make back the money in 2-3 years max. Make more money if you can stay abroad. It's not bad to invest in one's education.
In my family, it was mainly for better quality of life, exposure, and subsequent better pay. My ex went to do some course in English literature (in UK), after her PhD in India, cos she wanted some exposure to the lifestyle there. I think it is a must for any Indian girl who wants to experience western freedoms, infrastructure and rights. If I have daughters, I will make sure they get to study in Europe/Canada/US/Dubai.
Because they just want to get out and get a better life
People take loan do masters or bachelors from abroad in order to go there on study visa. During that time they search for jobs and later on settle abroad.
they earn 20x the loan emi
How? if you are saying they earn 20x so inflation or expenses would be at same rate?
im including inflation and other lauda lassun, my job is to send these fuckers out of India and financing NRIs so I have exact idea of their income, wealth and expenses. US is a country which wont let you fail.
Dude because they dont want to live here, no jobs, competitve exams, country overall is pretty fcked and thats the truth, so they just go abroad, study there, work there, start a family there and quit india as a whole
Because they seek permanent residence and citizenship in those countries. And then if they don't get it by the time their visas expire, they do mass protests and hunger strikes in an attempt to remain there.
if they do protest so they charged by police like in india?
Because they are general engineering males.
I lived abroad for over 12 years in about 9 countries and the Company I worked with took many freshers as interns or full time. In my opinion unless it's top A class University Or your family is well to do and can afford your expenses outside, other than that it does not make sense to take debt and study abroad. Dream of studying abroad or better life is fine with your own money but absolutely not on debt.
What is the chances of pr though?
If you think foreign visa is an escape route to better life without hardwork and pain then you are wrong. Even there to succeed you will have to work hard and in most countries, you will be a second class citizen. So please do not burden your parents with debt for a dream of yours. Work hard and you will get plenty of chances to work abroad. Your target should be excellence in your area of work... Success, foreign work, etc. Will come to you.
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I'm going to study abroad and will most probably take a loan The package after my masters will compensate for the loan in no time Better living conditions,things are cheaper there,my dream luxury car costs half of what it costs here,my favourite Nike shoes cost much lesser,a pro iPhone costs 40-50k lesser, something like work life balance actually exists,when I return home from office, I'd take less than 20 minutes to reach home unlike in Indian cities (Mumbai Delhi Bangalore etc)where it takes an hour or more Most importantly, I get the benefits of the taxes I pay,like health insurance, social security (these things are unheard of in India coz my tax money goes into catering rice for 80 crore out of 140 crore people) Also clean roads without potholes,civic sense among people,24/7 electricity and water So yeah studying abroad and working and settling there is totally worth it according to me, I love my India tho and proud of it's growth,but these ground level things haven't changed Also isme show off kaha se aaya bhai? log apna career banane keliye jaate hai loan leke aur visa ka intazar karte hue,yeh sab showoff keliye thodi hota hai lol
I said show off in sense most of the people just chasing the crowd without thinking their own pocket. bro well said, so you mean luxury is cheaper in abroad as compare to india?
>bro well said, so you mean luxury is cheaper in abroad as compare to india? Yeah absolutely, while I'd agree household necessities,house help n labour and daily groceries can be much cheaper in India But after a certain point you don't just buy this right?you want luxury,like good consumer tech,big quality house, luxury car I'd really want to visit popular tourist destinations in the world like Switzerland and other European countries, Australia,USA,Japan,etc and maybe a luxury trip at that But the thing is value of Indian currency is also very low and such trips abroad are not at all affordable,like 90000 inr gives you just 1000 euros Meanwhile if you are working abroad and earn in any kind of dollar,euro,pound,or any other currency, they're usually much higher in value and a trip abroad doesn't really cost you your bank account,and can be just 10-20% more expensive, meanwhile in India the converted price is just insane,if I go to a luxury restaurant in Paris,the bill may come to 60 euros,and if I'm earning in dollar for example,that's 65 dollars for me which I don't mind paying(it is still very expensive)but in Indian currency that's that's almost 5400-5.5k which is insanely expensive for a person earning a good Indian salary
You can pay off your entire loan within an year or two while living comfortably, the pay difference is that huge. We just moved to Canada and i have been working in the same field as I was in India, doing the same work and we have been living on a single income right now. Even then we have been able to comfortably afford to rent an apartment. Even furnished the entire apartment within a month’s salary. In India, buying just a TV would have cost my entire month’s salary. Hence, people prefer to move out even if they have to take a loan.
How much work exp you had before moving to CA?
9 years
Which course?
I went on PR visa not study visa. I was just making an observation about the pay gap.
For some it is delusion. My uncle stole our family land, mortgaged it, defaulted on the loan. But his son is in Canada. They are not educated, cultured, basic English speaking, no value for education. It is just one of my uncle's get rich quick scheme . He wants the whole family to join him in Canada
Coz they’re desperate to move out of the country, this is just a legal way to get there anyhow
They say we're overpopulated anyway! I think it's a golden opportunity. Take others with you. "Pehli fur..."
It’s more of an investment for their future. Less competition and for some places like Canada a student can literally complete their undergrad, work at a fast food chain and get a PR in a year. They don’t even need to get a job in their field. Once they have the PR they can easily do masters for pennies or up skill to apply for roles they studied for while being permanent resident.
It usually is only worth it if you go to countries that have a stable job market for skilled labour, eg - USA, Ireland, Germany. If people go to countries like Canada, UK, Australia, it leads to a very poor return on investment because of lower wages and a very tight job market for foreigners. UK is probably the worst for Indians to go to because of strict immigrant labour laws and the exorbitant university fees and cost of living.
People consider it as an 'easier' plan to settle abroad. It's too expensive to do undergrad abroad, and it's difficult to get a job abroad right after college unless you're very competent.
ROI is great. I did mine from London
could you explain more? I mean about your real experience with your own higher study?
I had 2 yoe as Data engineer. After that I went to London for MBA. whatever I took as a loan I was able to payback in 3 years.
Which course and what was the salary you got?
Can anyone recommend good uni for mba or master in finance abroad if possible
I wanna ask is MS better to do in abroad or MBA ?? Also if u can say a thing about the amount taken in that ?
Pdhai krle bhosdike. Yaha rozke 5 post bharta rehta hai. Thoda padh lega to ye jo zeher jaisi english hai vo bhi theek ho jaegi.
chalo kisine to bola, bro yes now tell me how to improve my English and what kind of mistake I made in this post?
Simply there are more opportunities if you take a global outlook. More number of decent colleges and job prospects and better standards of living.
Not sure about others but I can tell my case. I wanted to work on chip designing as I was interested in circuits. Hence, I opted for Btech in ECE. But after btech, none of the core ECE companies came for recruitment in my college as it wasn’t a top tier college. I didn’t want to go into software development so I pursued MS from US, specialising in VLSI Design and Computer Architecture. This helped me elevate my profile and I could get jobs in semiconductor industry in India. I came back after finishing my degree and paid off the loan in the next 3 years. Now I am pretty happy with my current job profile and enjoy what I do.
May I ask few questions? 1 What was your loan amount? 2 How much the course cost to you with all living expenses in US? 3 Have you noticed that you got decent package in india with your international degrees?
1. Loan amount was around 20-25 lacs. My masters was 2015-2017. I worked a part time job as a receptionist to manage my living expenses in the first year. In the second year, I became a TA, which increased my salary as well as gave me a partial scholarship. 2. Course cost varies a lot from university to university so you will have to check their website. 3. Yes, I think my package was decent for a fresher when I applied to jobs in India
Because many people really don't know how money works .
then you should tell and eloborate na bro?
Show off ? Idk ! Moving abroad is all for better job prospects, quality of life and education for your kids. Tuition fees for international students can go Upto $100,000 in USA 🇺🇸 or 60-80K CAD in 🇨🇦 or £30k in 🇬🇧 now obviously an average family of 4 in India, being a Salaried employee earns approx 10-12LPA, then he pays taxes, then pays off his insurances and then EMIs after that one has to teach their child in Pvt. Schools for his child bcz govt schools aren’t in a good shape. How much do u expect such a man to save in his lifetime ? So the kids, how will they ask their parents for money ? Now they have 2 options either stay in India earn Upto 20-30LPA with insecure jobs and see the inflation hit again, and repeat the same cycle as your parents, or take the risk, take the debt and go abroad for international studies, which is a path way to get a job in that country, which can eventually lead to PR and Citizenship. It’s a big risk no doubt, and can only be paid off if they get a job abroad after their masters, and if they don’t, then it’s an even scarier situation to pay that debt earning in INR. Hope that answers your question.
Great Answer.. 👍 However out of 100 how many people find themselves unable to payback debt? You tell insecure job in India.. so you mena pvt job are secure in abroad?
Now here’s the thing if u go abroad in a medical field or engineering domain with a good market research, u can manage to pay back the debt in about 2-3yrs of time while earning in $$$ Assuming the worst case scenario that u only get to work in OPT period for 2 years in USA STEM, and no luck at H1B lottery. Or 2 year PSW Work Visa in 🇨🇦 or 🇬🇧. However a lot of people go with unnecessary courses like geology, history, psychology without prior market research and eventually end up with the vicious debt trap. They should be more careful before taking such a huge debt.
Indian universities’ curriculum is a zombie curriculum. Completely useless when you get into the job market after your completion of the course.
Money should not be an issue for good education in an elite University. But yes Indians in average unis do it for pr in developed countries
The reasons for going abroad vary for each individual and are often correlated with their success. These reasons can include seeking a different quality of life, exposure to international education, higher earnings to send back home, the ability to travel to many countries, scholarships, and more.Generally, people with good scores who focus on getting into reputable universities remain stable despite taking loans. However, choosing a university is a tricky and risky gamble, and thus a very careful decision must be made. While there are many success stories, including my own, there are also cases where individuals have taken hasty steps and paid the price.
It’s rather an investment considering that they will get a job in the country that they are doing there masters from
I am one of these Indian people. Unlike the usual group of people who go for master's, I went for undergrad so my loan was a lot more than master's since undergrad is 4 years. My reasons for going abroad were: 1. I wanted to pursue chemical engineering. Plenty more opportunities in core chemical jobs in the US and a lot more lucrative. College education in US is more practical and industry based. 2. I belong to the general category so I'm not gonna add anything more there. 3. You get to interact with a lot more diverse group of people. The majority of master's demographics tend to be Indian or Chinese. As for paying the loans, I did a 3 term internship that helped me pay off a semester worth. My dad helped a lot by paying for the interest since day 1 so I won't be swamped when I graduate and start repaying. I was able to pay off my loans in under 3 years.
I took a loan about 7 years back. Now have 5 years of work experience in USA. I own 5 properties, two cars and my net worth is very close to seven figures. And no, I have never studied at a tier 1 college in either India or US. The loan I took gave me the chance to make money in the world’s largest economy. It is a no brainer if you want to come here truly for education and to further your career. Funny enough, most kids come here for the fun, party and the show off part of it. An easy way to find them is to look for those who are busy making reels about their life abroad. Cheers.
so instead of education, you took loan to setup your business there? and You took assets in india or US?
I took the loan for a master. Graduated and worked in wealth management. My assets are spread between India (3) and US (2+1)
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