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Business News/ Money / Personal Finance/  As Canada announces 2-year cap, a lowdown on overseas study options for Indian students
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As Canada announces 2-year cap, a lowdown on overseas study options for Indian students

There are multiple options to choose from including Australia, New Zealand, UK and USA -- all of which are already quite popular among Indian students.

New Zealand is an affordable country and the cost of an MBA could be as low as NZ$55,000 ( ₹27.5 lakh) similar to what universities in India charge Premium
New Zealand is an affordable country and the cost of an MBA could be as low as NZ$55,000 ( 27.5 lakh) similar to what universities in India charge

Canada has recently announced a two-year cap on new international student visas amid an escalating housing crisis, a move likely to impact Indian students. Nearly 40 percent of the total number of international students in Canada are from India. Among all the foreign destinations, Canada ranks at number one for Indian students studying overseas. 

Data shared by Immigration Minister Marc Miller indicates that there will be 364,000 new permits approved in 2024 — significantly affecting Indians planning to study in the country.

However, just as Canada, there are a number of popular study destinations for Indian students. 

There are, however, multiple options to choose from including Australia, New Zealand, UK and USA -- all of which are already quite popular among Indian students.  

A lowdown on overseas study destinations for Indians

Australia: There were around 1.24 lakh Indian students studying in Australia (out of the total of 7.68 lakh) in 2023, reveals Australian government's department of education data. 

The average cost of studying for an MBA in Australia is $60,000 (or 33 lakh) for one year. Students are entitled to stay for 2-4 years for select bachelor's degrees, for 3-5 years for select master’s degrees and 4-6 years for all PhDs. Some of the popular universities include University of Sydney, University of Melbourne, UNSW, Monash and Queensland, among others.

New Zealand: It’s a relatively small country and known as an island nation with only eight universities.  

This is an affordable country and the cost of an MBA could be as low as NZ$50,000 ( 25 lakh) similar to what universities in India charge. After completing studies, students can stay for up to three years on a work visa.

Some of the popular universities include University of Auckland, Victoria University of Wellington and Massey University. 

United Kingdom (UK): Ever since, the British government resumed a two-year post study work visa from 2021 onward, an influx of Indian students started again. The tuition fee to study in the UK hovers around 20-25 lakh a year based on the course and the university you opt for, but the top universities such as Oxford and Cambridge charge a much higher amount.  For instance, an MBA at the University of Oxford costs nearly 83 lakh (£78,510) for tuition alone.  

In 2022, there was an increase in the number of student visas by 54 percent in 2022 over the preceding year. The number of Indian students entering British universities stood at 1.39 lakh in 2022 alone. 

Some of the popular universities include Oxford, Cambridge, King’s College, LSE, UCL and University of Manchester, among others.

USA: There are more than 2.68 lakh Indian students enrolled in US universities, a report states. Indian students were highest among those who opted for OPT (optional practical training) — enabling them to engage in one year of temporary employment, one of the key advantages of studying in American universities.

Moneywise, US universities are quite expensive and graduation is spread over four years. Annual tuition can be as high as 40 lakh per year for top colleges. 

Some of the well-known universities in the US include, but  not limited to, Harvard, Yale, MIT, Stanford, Princeton, Penn, Cornell, Brown and Chicago.

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Published: 25 Jan 2024, 05:12 PM IST
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