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Students heading overseas must keep these points in mind as recession looms

One factor is tuition fees, which may go up after universities refrained from increasing them during the pandemic.

December 16, 2022 / 11:36 AM IST
Although inflation and a likely recession have pushed students to think in other directions, he said students still prefer a US university over others, even though employment prospects aren’t bright.

Although inflation and a likely recession have pushed students to think in other directions, he said students still prefer a US university over others, even though employment prospects aren’t bright.

Students from India don’t seem to be backing down on plans to study overseas in 2023 even amid the possibility of a recession in many countries, rupee depreciation, and rising tuition fees.

Three verticals that track factors related to overseas studies are projected to grow by more than 76 percent in 2023, according to Adventum Student Living, a startup that helps students find accommodation and education loans.

The verticals are UniScholars, a global scholarship directory, UniAcco, for student accommodation, and UniCreds, which provides financial aid. The average growth of overall enquiries on education abroad has increased 2.3 times. Yet, experts said 2023 won’t be an easy year for studying abroad.

“From a purely financial perspective, 2023 may turn out to be a difficult year for students going overseas,” Sayantan Biswas, cofounder of UniScholars, told . “The combination of an accommodation crisis, a rise in tuition fees, and currency fluctuations is not ideal for planning overseas study.”