-Galla S Kiran Kumar,Bureau Chief Telagana (Andhra Pradesh)
The number of Indian students taking loans from banks for studying abroad is increasing every year. In 2012-13, 22,200 students from the 12 public sector banks across the country got their education. By 2021-22, that number has increased to 70 thousand.
4.61 lakh students in last 10 years and
7.50 lakh students abroad in 2022
Today, Hyderabad: The number of Indian students taking loans from banks for studying abroad is increasing every year. In 2012-13, 22,200 students from the 12 public sector banks across the country got their education. By 2021-22, that number has increased to 70 thousand. The central government has recently revealed that banks have provided Rs.39,268 crore as education to a total of 4,61,017 people in the last ten years. In 2021-22, SBI gave maximum loans to 32,449 people, followed by Canara Bank to 11,429 people. Of the total loan recipients, 42,364 were medical students. It is expected that the amount of students will be more if the funds given by private banks and other non-banking finance institutions are included. As the loan conditions have been simplified more than before, middle class and lower middle class students are also able to study abroad.
30% are complete takers
Experts say that students are not taking loans to the extent approved by banks. For example, for two years in America, depending on the universities, the tuition fee ranges from Rs.15 lakh to Rs.60 lakh. Even if the banks approve to take loans for living expenses etc., the students are doing internship and assistantship after a year of going there. Foreign consultancy experts say that most people do not take more than 50-70 percent of the sanctioned loan as they generate enough income to cover their expenses.
Last year the highest..
In 2019, the highest number of 5.86 lakh students went abroad before Corona. Surpassing that.. The latest statistics announced by the Ministry of External Affairs show that in 2022, a record 7.50 lakh students from India went to 150 countries to study. Most Indian students go to USA, Canada, UK and Australia.
No country.. no islands
Indian students are going to study in not only the major countries, but also the smallest countries, islands that common citizens have never heard of. For example, the central government statistics make it clear that one or two students are studying in Christmas Island, Cocos Islands, Dominica, Faroe Islands and MacDonald Islands. While going to major countries for MS, they are going to many countries to do PhD and Post Doctoral Fellowship (PDF). Some countries offer 100 percent fellowship. Applications are invited and the applicants are screened and selected from across the globe. Some other countries are giving fellowships only to Indian youth.
