The decision to study overseas is one of the most important and expensive initiatives that students may ever undertake. This makes studying abroad a complex decision, and one that is more likely to involve deeper buyer deliberations.
The current article aims to provide aspiring students with pointers that would facilitate them in making the right decision. Following are some of the variables a student that wants to study abroad should consider.
Prior to zeroing in on the country of study, one should check to understand if the destination country is immigration friendly and if it provides stay back options post completion of the course. Do note that the stay back and employment options are generally available for specific courses/streams of study.
For example, United Kingdom does not give option to stay back and look for employment, hence the student has to return immediately after the course is over. On the other hand, in the US, there is a 3 year stay back option for STEM (Science, Technology, Engineering and Mathematics) programs to look for employment. This means that in case you are planning to pursue an MBA from a Non STEM course from the US, it might not be a viable option.
Getting access to capital is not a problem, financial institutions can fund the entire cost of education including accommodations, provided you have a good credit bureau score i.e. Cibil, Equifax, etc. So check yours and your family member’s credit bureau score. A weak credit score has a bearing on your loan amount, rate of interest and secured or unsecured loan amount.
Do your research thoroughly even if you have enrolled yourself with an education counsellor. It is important you are completely involved in the process. It should be you taking the decision rather than somebody else taking the decision for you.
D. Cost of Education:
While selecting your college, research on possible job opportunities and the approximate salaries post completion of the course. Studying abroad is expensive so returns are of paramount importance.
E. Next Time:
Higher education is an expensive proposition not only in terms of money but also in terms of committing a considerable amount of time. So, if you don’t get your preferred university at first, don’t compromise. If there is any confusion, remember you can always try again next year. Be prepared to walk away.
F. Selection of College:
There are many variables to consider when selecting a college, here are some pointers to consider.
- Look at the senior profiles of the students graduating from the course. This would give you a good indicator where you will end up post graduating.
- If universities are not able to attract a sufficient number of students for a particular course, they do not reduce the course fees, they prefer offering scholarships instead. Reducing course fees is a signal to the market that the course is not doing well. So, if you get scholarships, do evaluate them carefully.
- Good university courses have consistent batch sizes, for e.g., the Yale Law course will have a consistent batch size for years, they do not change the batch size with the change in the demand. So don’t forget to check the historic batch size.
- Never select a course based on popularity or ranking of the college, always select the college in conjunction with the course. E.g.: Not all courses offered at Harvard University may necessarily be good.
So before making your decisions, consider all variables, as the right decision increases the probability of having a successful career. In my next article, I will give you a detailed analysis of how successful students go about selecting a college.
The ideas, views and opinions expressed in the article represent my own views in my private capacity and not those of any of my current or previous employers, any institutions. The article is a research work based only on limited, dated and open source information. For the sources, the statements have been quoted with the author’s name. This article is only for the reading pleasure and while I invite feedback and comments on the article, I will not be responsible or liable to any such comments as the same belongs to the responder.”