Germany, Japan or Korea? Indian students look beyond Canada
₹8-11 lakh, whereas a master’s programme costs ₹15 lakh," said Ankur Dhawan, the president of upGrad’s international arm, upGrad Abroad. “Canada has also upped the guaranteed investment certificate (GIC) from CAD $10,000 ( ₹6 lakh) to CAD $20,635 ( ₹12 lakh). Students will have to look at more options in Europe now." A GIC acts as a proof that the student has the means to live and pay for expenses in Canada.
One can get a GIC from Canadian financial institutions. Those in the business of sending students abroad are sceptical of the latest changes in visa rules. “The limits suggested are misdirected and don’t solve the housing crisis or address the employment-matching problem," said Akshay Chaturvedi, the founder and chief executive of Leverage Edu.
The company ties up with banks and NBFCs to help students headed abroad with financing. “You still need immigrants, you still got open jobs, and nobody is stacking together the entire thing, which is a bit off. I see this [more] as a political decision than a structured for-economy one." Chaturvedi added that the post-study work visa is a big factor for Indian students choosing a country or college or program, and if that is taken out of the equation, drop-offs will increase, and the number of students going to these countries will fall further.
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