For many Indian students, studying abroad is a dream. The number of students pursuing higher education in the US, the UK, Canada, Australia and Germany is increasing, and so are their challenges. These students are facing crippling loan debts, fewer job opportunities and rising living costs.
While prestigious universities may promise employability, the remaining institutions don’t offer any cover. With this, most of the students are struggling to secure stable careers and repay loans. Anula, who completed a masters in fashion and textiles from the University of Edinburgh, shares her frustration.
“Despite studying a strong course with excellent faculty, I could not find a decent job that allows me to repay my loan and save money,” she said. Anula points out that when students send their CVs to companies, an AI software often filters and rejects those with Asian-sounding names. “There are no campus placements either, so students have to find jobs on their own,” she added.
She had researched universities offering her course and chose the UK over the US for financial reasons. However, after taking a Rs 33 lakh loan and working part-time in a clothing company during her studies, the reality did not match her expectations. “I earned around £600 a month, but £450 went towards rent.
There was little left for loan repayments,” she explained. Moreover, she could not foresee the rising sponsorship costs, which increased from £29,000 to £39,000 in just two years of her .