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Thursday, January 27, 2022

Number of Indian students applying abroad doubles

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Applications from Indian students for fall 2022 at foreign universities have doubled from this year, according to several study abroad platforms, driven by attractive wage packages and roles offered by recruiters on their university campuses.

Foreign education platforms Collegify, ForeignAdmits, Leverage Edu, and Yocket also said the majority of applicants target STEM (science, technology, engineering, and mathematics) courses in the US, followed by the UK and Canada.

They said salary packages and roles offered by top tech companies in their on-campus recruitment drives are the main draws for applicants.

Said Adarsh ​​Khandelwal, co-founder of Collegify, which helps Indian students gain admission into the top 100 foreign colleges.

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He said that students of financial accounting and economics in the United States are offered more than $160,000 in annual stipend. “In the past two years, more than 1,000 students enrolled through Collegify at top colleges in the United States have earned salaries of more than $100,000 a year,” Khandelwal said.

For example, Shaurya Jin, a final year student at the University of Washington, Seattle, has multiple offerings from leading technology companies. Jain told ET he’s eager to join a conglomerate that offers a $220,000 annual salary, plus join bonuses, inventory, and free laundry and meals.

“With better salaries by technology companies in the US for new students and higher income levels for parents who can afford foreign education for children, the outflow from India for STEM courses is increasing,” said Nikhil Jain, co-founder of ForeignAdmits. At Foreign Adams, six out of ten students choose courses “like computer science” in the United States or Canada, he said. Other factors such as the World Health Organization’s recognition of the Covid-19 vaccines Covishield and Covaxin, and pent-up demand from last year, have also heightened the interest of Indian students to continue their studies abroad.

Currently, about 80% of Indian students studying abroad go to popular destinations including the US, UK, Canada and Australia, according to data shared by INTO University Partnerships, an organization working in the field of higher education.

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Indian travel agency Thomas Cook is also seeing a more than twofold rise in uptake between the US, Canada and the UK in the August-September semester of 2021 compared to 2020 despite visa and entry challenges. “In October 2021, we surpassed the pre-pandemic volumes of 2019. With the relaxation of travel and health protocols, we expect a strong rebound to welcome spring as well,” said Dipesh Varma, Senior Vice President of Foreign Exchange, Thomas Cook. (India).

At Yocket, more than 200,000 students have already inquired about admissions this year so far. And that’s more than double last year,” said Sumit Jain, co-founder, Yocket.

“The number of students on our own platform between September 2020 and September 2021 increased by 21 times. Other than the increase in student interests this year, this is also as we have grown rapidly in the past two years,” said Akshay Chaturvedi, founder of Leverage Edu.

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