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 Moneycontrol. “The combination of an accommodation crisis, a rise in tuition fees, and currency fluctuations is not ideal for planning overseas study.”