Around 67 percent of Indians prefer the United States for higher education, according to a new report by fin-tech platform Prodigy Finance.
The report, State of Higher Education in Study Abroad Market, showed that besides the US, Indian students prefer the UK and France — at 8 percent — each for pursuing their master’s degree abroad.
Most students who went abroad for higher education were from Maharashtra (20 percent), Karnataka (15 percent), Delhi (12 percent) and Telangana (8 percent).
Almost 70 percent of the Indian students who traveled abroad for higher education last year were male and 30 percent were female, the report showed.
The study further found that for engineering courses, Northeastern University, the University of Texas at Arlington, and Stevens Institute of Technology were the most preferred universities, whereas for MBA programs Georgetown University, University of Toronto, and the University of Rochester have been most popular.
There has been severe uncertainty among the students traveling abroad for higher education as most of the families went through a financial crisis amid a nationwide lockdown last year.
Regardless, there was a growth of 41 per cent in applications in 2020 when compared to 2019.
In 2020, Prodigy Finance disbursed approximately Rs 3 million to each student in terms of loans for higher education.
“As international borders start to reopen gradually in 2021 and campus learning looks promising in the next quarter looking at the vaccination drive, we can expect a 30-35 percent growth in 2021 as compared to 2020,” said Mayank Sharma, India head of Prodigy Finance, in a statement on Tuesday.