Acquiring an Education Abroad in the current Economic Situation?

This year has been quite eventful for Foreign Education. This is attributed to the recent Global Economic recovery, especially US & Europe, a stronger dollar and most recently, the stalemate between the US Government and the US Congress.

The good news is that it is a great time to acquire a Foreign Education, possible better than ever and surely the best in the last 5 years, Monisha Banerjee, Business Head at Manya Abroad – The Princeton Review. According to Foreign universities placement cells (this is information on US universities), the average salaries of MBA and Masters Graduates have drastically increased from USD 60000 to USD 120000 – 150000.

Last month the US added 169,000 new jobs (Wednesday 2nd October 2013, The Guardian)

ADP (America’s Giant Payroll firm) said that, while employment levels among medium-sized companies with 50-499 employees rose by 28,000 and employment at large companies – those with 500 or more employees – increased by 64,000.

So far in calendar year 2013, the economy has added 1.44 million jobs overall, and 1.47 million of these are in private sector.

Interestingly, there has been some rather farcical fallacies making the rounds these days, and one of that is decreasing applicants for an US education. Perhaps the weakening rupee has triggered off such speculations, but the truth could not have been further from it. Students have not been drastically affected by currency fluctuations because financial institutions are happy to meet demands for student loans.

On the flipside, this unique situation has opened doors to new opportunities for students because a powerful dollar means more jobs and settlement opportunities. As expected, Indian students have never for a moment shown signs of putting off their decisions to study abroad. Demand for foreign schools and jobs are strong. Applications for study and work visas are still as it was before the standoff, which surely means that Indian students and professionals are not letting a dearer dollar inhibit their dreams.

Aradhana Khaitan Mahna, the Founder & MD of Manya Abroad – The Princeton Review said that she does not see any slowdown instead the numbers are on strongly rising. In an online survey conducted by Manya, over 90% students have stated that recent economic changes has not in any way affected student’s decision to study abroad.