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If one word can describe the past 24 months for the world, it would be uncertainty. Fickle travel rules, uncertainty about covid protocols, and exorbitant fees, have made life much more difficult for Indian students who opt for an education overseas.
Despite the challenges, though, demand for foreign education remains high.
So why do Indian students choose to study abroad?India is home to one-fifth of the world’s youth. As with most things in the country, competition to get in to the country’s premiere institutes is fierce. And competition for top jobs is even tougher.
As per data by the income tax department, there are only 30,000 jobs in India with a starting salary touching 10 LPA - making even this package an elusive one. In contrast, as per a report by the US labour department, starting salaries for graduates stands at 6 times more at 61 LPA.  It is then no wonder that Indian students who can afford it, look to foreign education either as a badge of honour, to get a leg up on their resume, or as an avenue to access the job market abroad.
According to a Redseer survey 70% of students want to go for specialised courses overseas, as opposed to only 30% for general courses. Specialised courses often have a much better return on investment, along with much better job prospects too.Also watch: Going to study abroad? Here is how and why you must have student travel insurance
India has the second largest number of students studying abroad, next only to China. But does the allure of foreign education make sense in a post-pandemic world?
How many students go abroad to study? The Covid-19 pandemic saw a dip in demand for foreign education, but it didn’t take long for numbers to reach pre-pandemic levels. As per the Bureau of Investigation, nearly 5.9 lakh students went abroad for a foreign education in 2019. The onset of the pandemic, however, saw this number decline by 55% in 2020, with just about 2.6 lakh students going abroad. The numbers rebounded as covid fears weaned in 2021, with 4.44 lakh students going abroad. The trend is on the up, as 1,33,135 students have already gone abroad in just the first quarter of 2022.
Paying for a foreign educationAffordability, however, remains a concern. While the cost varies greatly depending on country and course, research by the International Institute of Education found that the average cost of studying abroad is nearly ₹28 lakh per year, which is an enormous sum of money for most in India. This leads to a high demand for education loans, which soared to new highs despite the pandemic. According to credit bureau CRIF, education loans worth ₹11,000 crore were disbursed in India in 2020, which was a record high.Also watch: US bill removes green card cap for STEM doctorates, introduces startup visa
The pandemic has also offered new opportunities for students, such as courses in hybrid mode, with a mix of online and classroom teaching. Many have been able to complete a semester or two from home, before moving out to their country of choice, cutting down on living costs by a sizeable margin.
How much sense does this make in a post-pandemic world? Despite new opportunities, a cloud of uncertainty remains over foreign education post Covid-19. Ever-changing protocols and quarantine rules are difficult to navigate, and many fear having to pay high travel and living costs in foreign country, only to end up doing online classes. This, and dwindling job prospects as economies struggle to recover, have caused many to ask - does education abroad really have serious merit, or is it just another case of the grass being greener on the other side?  Also watch: Mental health of college students' worst-hit by virus lockdown: study 

The India Story with Vikram Chandra: Getting a foreign degree: what do the numbers say? 

What is the allure of getting a foreign degree for Indian students? In this story we take a look at the data! 

Decoded | Getting a foreign degree: what do the numbers say? 

What is the allure of getting a foreign degree for Indian students? In this story we take a look at the data!&nbsp;

If one word can describe the past 24 months for the world, it would be uncertainty. Fickle travel rules, uncertainty about covid protocols, and exorbitant fees, have made life much more difficult for Indian students who opt for an education overseas.
Despite the challenges, though, demand for foreign education remains high.
<h3>So why do Indian students choose to study abroad?</h3>
India is home to one-fifth of the world&rsquo;s youth. As with most things in the country, competition to get in to the country&rsquo;s premiere institutes is fierce. And competition for top jobs is even tougher.
As per data by the income tax department, there are only 30,000 jobs in India with a starting salary touching 10 LPA - making even this package an elusive one. In contrast, as per a report by the US labour department, starting salaries for graduates stands at 6 times more at 61 LPA. &nbsp;It is then no wonder that Indian students who can afford it, look to foreign education either as a badge of honour, to get a leg up on their resume, or as an avenue to access the job market abroad.
According to a Redseer survey 70% of students want to go for specialised courses overseas, as opposed to only 30% for general courses. Specialised courses often have a much better return on investment, along with much better job prospects too. <a href="https://www.editorji.com/story/going-to-study-abroad-here-is-how-and-why-you-must-have-student-travel-insurance-1628486773788" target="_blank" rel="noopener">Also watch:&nbsp;Going to study abroad? Here is how and why you must have student travel insurance</a>
India has the second largest number of students studying abroad, next only to China. But does the allure of foreign education make sense in a post-pandemic world?
<h3>How many students go abroad to study?</h3>
The Covid-19 pandemic saw a dip in demand for foreign education, but it didn&rsquo;t take long for numbers to reach pre-pandemic levels. As per the Bureau of Investigation, nearly 5.9 lakh students went abroad for a foreign education in 2019. The onset of the pandemic, however, saw this number decline by 55% in 2020, with just about 2.6 lakh students going abroad. The numbers rebounded as covid fears weaned in 2021, with 4.44 lakh students going abroad. The trend is on the up, as 1,33,135 students have already gone abroad in just the first quarter of 2022.
<h3>Paying for a foreign education</h3>
Affordability, however, remains a concern. While the cost varies greatly depending on country and course, research by the International Institute of Education found that the average cost of studying abroad is nearly ₹28 lakh per year, which is an enormous sum of money for most in India. This leads to a high demand for education loans, which soared to new highs despite the pandemic. According to credit bureau CRIF, education loans worth ₹11,000 crore were disbursed in India in 2020, which was a record high. <a href="https://www.editorji.com/world-news/us-bill-removes-green-card-cap-for-stem-doctorates-introduces-startup-visa-1646575688090" target="_blank" rel="noopener">Also watch:&nbsp;US bill removes green card cap for STEM doctorates, introduces startup visa</a>
 The pandemic has also offered new opportunities for students, such as courses in hybrid mode, with a mix of online and classroom teaching. Many have been able to complete a semester or two from home, before moving out to their country of choice, cutting down on living costs by a sizeable margin.
<h3>How much sense does this make in a post-pandemic world?&nbsp;</h3>
Despite new opportunities, a cloud of uncertainty remains over foreign education post Covid-19. Ever-changing protocols and quarantine rules are difficult to navigate, and many fear having to pay high travel and living costs in foreign country, only to end up doing online classes. This, and dwindling job prospects as economies struggle to recover, have caused many to ask - does education abroad really have serious merit, or is it just another case of the grass being greener on the other side? &nbsp; <a href="https://www.editorji.com/story/mental-health-of-college-students-worst-hit-by-virus-lockdown-study-1598776573748" target="_blank" rel="noopener">Also watch:&nbsp;Mental health of college students' worst-hit by virus lockdown: study&nbsp;</a>

Edtech startup, Udayy shuts down its operations and has fired 100-120 employees as kids move back to schools in the post-pandemic world. 
According to reports, the Gurugram- based company has also decided to return up to $8.5 million to its investors, out of the total $13 million raised during its operations.
Founded in 2019 by Karan Varshney, Mahak Garg, and Yadav, the edtech platform offered maths and English training to children in the age group of 6-11 years using an interactive online classroom of 3-5 children in each batch.
Following this, in January 2021, the company raised $2.5 million in a seed funding round led by Alpha Wave Incubation (AWI), managed by Falcon Edge Capital and InfoEdge Ventures.
Is EdTech sinking? So far in edtech, Unacademy has laid off around 1,000 employees, while Lido has shut shop after letting go of around 150 employees. Most recently, Vedantu fired 624 employees, citing a tough macroeconomic backdrop and challenges from offline coaching centres regaining prominence.

Edtech startup Udayy shuts its operation, fires all the employees 

After Unacademy, Lido, Vedantu, Udayy shuts its operation, fires all the employees 

Udayy becomes the sixth firm in the edtech space to lay off a significant proportion of its employees

Edtech&nbsp;startup,&nbsp;Udayy&nbsp;shuts down its operations and has fired 100-120 employees as&nbsp;kids move back to schools in the post-pandemic world.&nbsp;
According to reports, the Gurugram- based&nbsp;company has also decided to return up to $8.5 million to its investors, out of the total $13 million raised during its operations.
Founded in 2019 by Karan Varshney, Mahak Garg, and Yadav, the edtech platform offered maths and English training to children in the age group of 6-11 years using an interactive online classroom of 3-5 children in each batch.
Also read/watch| <a title="NEOM, the city with the tallest building in the world&nbsp;" href="https://www.editorji.com/business-news/neom-the-city-with-the-tallest-building-in-the-world-1654161341746">NEOM, the city with the tallest building in the world&nbsp;</a>
Following this, in January 2021, the company raised $2.5 million in a seed funding round led by Alpha Wave Incubation (AWI), managed by Falcon Edge Capital and InfoEdge Ventures.
Is EdTech&nbsp;sinking?&nbsp; So far in edtech, Unacademy has laid off around 1,000 employees, while Lido has shut shop after letting go of around 150 employees. Most recently, Vedantu fired 624 employees, citing a tough macroeconomic backdrop and challenges from offline coaching centres regaining prominence.

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