In a recent survey conducted by HSBC, it has come to light that Indian parents are the most keen in the world when it comes to sending their kids abroad for highest studies. A stunning 88% of parents are willing to send their kids to a different country to pursue higher education, the survey has revealed.
Turkey came a distant second with 83% of the parents wanting the same, followed by Malaysia and China with 82% of the surveyed willing to take the step. In contrast, Australia comes at the bottom of the list with only 52% of the parents willing to send their children abroad for post-graduate studies. Canada and the United States too score poorly with 53% and 59% of the parents agreeing to the survey.
The survey also categorised high costs as the single largest barrier for India parents when it comes to sending their kids abroad for education. Most of them are, however, willing to spend even that extra money if their children are given a chance to study abroad. Many of them opt for education loans from different financial institutions, often shelling out a substantial rate of interest.
A staggering 93% of the parents said that they are willing to pay more for an international university then the universities in India. HSBC India Head of Retail Banking and Wealth Management, Mr S. Ramakrishnan said that parents should start selling early for their children’s education if they want to fulfil their dreams of sending their children abroad for studies.
Worth reading : US Government to grant 6 year visa
Subject wise, Information Technology (IT) seems to draw Indian parents the most. A sharp 18% of Indian parents want to send their children abroad to pursue that particular line of studies. It is also the highest for any country in the IT sector followed by UAE and Indonesia with 11% each. However, parents from UAE and Indonesia are more willing to get their children into the medicine line with 33% and 31% response respectively. In comparison, 14% Indian parents want their children to opt for a career in medicine or engineering, according to the survey.
Related : Post study work visa in UK
The survey conducted by global financial giant HSBC named ‘Value of education learning for life’ got in touch with 5,550 parents from 16 countries around the world with a minimum of 300 parents from a single country.