Based on the increasing tuition fees along with the fall of rupee in India is making students and parents worry. The students, education consultants and some private financing agencies say that the rising costs are a nuisance but do not influence the decision to go abroad.
Neeraj Saxena, business head at Avanse Education Loans, says the bulk of students going to the US go for 'MS' (postgraduate engineering) or MBA courses. "A MS or MBA will cost Rs 25 lakh at least and may cost as much as Rs70 lakh at the better universities in the US. An undergraduate course comes with a tag of about Rs 1.4 crore. "Over the last three years, there would have been a 20-25 % increase in tuition fees alone and also an increase in conversion rates," he adds.
Lata Vaidyanathan, says "The increasing price structure and devaluation of the rupee is making foreign education nearly unaffordable, Going abroad is always Plan B. But if even with 90% students can not get in a good college and have a range of other qualifications, they go abroad."
Rajiv Gupta, CEO, EGE Global Education, makes the same point - a good score not ensuring a seat in a popular college due to rising cutoffs is pushing a lot of students to opt out of the Indian system. "If you have scored more than 90 and dreamt of going to a top college, you would not want to settle for a C-grade institution especially if you have the resources for an education abroad," he says.
Well, will increase in fee and drop in rupee in India result in lack of students going abroad for higher education? What is your opinion on this?