Indians are liking foreign studies, 78% parents are ready to send their children abroad! Survey results are surprising

Study Abroad News: Today, there are a large number of parents in India who want their children to study abroad. They are ready to go to any extent to fulfill their dream. Parents are eager to invest their life’s hard-earned money to send their children abroad for education and settle them there. Even if they have to sacrifice their retirement fund. This has come to light in a recent survey.

In fact, British bank HSBC has recently released a report, named HSBC’s Quality of Life Report 2024. It states that a large number of Indian parents want to educate their children abroad. Even if for this they need to spend the money saved for retirement. To prepare the report, 11,000 rich parents across the world have been talked to. The opinion of Indian parents has also been taken during the survey.

78% Indians want their children to study abroad!

According to a report by HSBC, 90 percent of Indian parents are ready to spend money to educate their children abroad. By doing this, sometimes they have to spend up to 64 percent of the money saved for their retirement. The report states that 78 percent of the Indians surveyed have at least one child studying abroad or they want to send their child out of the country for studies. Popular destinations for studies are countries like America, Britain, Canada.

Some are ready to take loans while others rely on scholarships: HSBC report

However, due to the rising cost of living and food abroad and rising inflation, it is becoming increasingly difficult for parents to educate their children abroad. Parents are not only investing their personal savings but also using their retirement funds to educate their children abroad. According to the report, 53% of the Indian parents surveyed say that they have a savings plan to educate their children abroad. 40% of students rely on student loans and 51% on scholarships for their studies.

According to the report, 27% of parents are ready to sell their properties to bear the cost of education. Apart from the worries of money, parents also have to deal with the problems of choosing a course, getting admission in a university and preparations before sending their children abroad, which is increasing their stress.