Indian students reassess study-abroad dreams amid rising costs
Loan providers and education consultants reported a surge in applications and inquiries, reflecting a growing financial awareness among students and their families.
“While education spends have been growing across the entire spectrum of the student lifecycle, overseas education has been one of the sub-segments with significant growth in recent years,” said Amit Gainda, chief executive of Avanse Financial Services (AFS).
Student loan disbursements by AFS to international students have surged more than threefold to Rs. 4,712.80 crore in FY24 from Rs. 1,551.25 crore in FY22.
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Implying that the average student going abroad is borrowing more, the sanctioned average ticket size of study abroad student loans rose to Rs 33.1 lakhs in FY24 from Rs. 28.8 lakhs in FY22.
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