The significance of higher education in global arena has increased considerably in the past few decades and cross-border education gained momentum with a large number of students travelling to foreign land to gain degrees. Asians constitute a major portion of the international population in many countries and thus help in increasing enrollment diversity and revenue for educational institutions overseas.
The higher education trends in the last decade clearly favours the first world English speaking countries such as the United States, the United Kingdom and Australia. However, the recent years has witnessed a change in the study abroad trends among students, which catalysed the emergence of Canada, New Zealand, Germany and France as major destinations. One major reason that fuelled this trend is the immigration opportunities that these countries provide to the international students. While some countries paid heavily for their stringent policies and employment after graduation, others gained ‘hot study abroad destination’ statuses and thereby increased revenue by opening doors to immigrants.
Permanent residency refers to a person’s visa status. The person is allowed to reside indefinitely within a country of which he or she is not a citizen. A person with such status is known as a permanent resident.[wikipedia]
- Canada- Preferred destination because of its visa rules and PR (permanent residency) system and being close to USA and one of the multicultural countries and voted as one of the best countries to live in students are flocking Canada, no matter whether they get their choice of course and university or not.
- Australia- With a high standard of living and better job prospects and easy PR rules, Australia is third most famous study abroad destination among students in Asia. You can get your PR in Australia within two years as well.
- New Zealand- The government wants young students to come and contribute to their country’s economy. Hence the PR rules in the country has been relaxed and by 2015 they had increased their education sector by 25%. There is a visa extension for 2 years, similar to Australia
- USA- It takes minimum 10 years to get your visa processed. Even though after completing your education you get a two year visa extension, mostly students return back to their home country after that. But USA is still a country well known for its university reputation , technology prowess and one everyone dreams of going
These were a few insights to PR in English speaking nations. The next blog would cover the insights in European countries.
There are pros and cons to choosing between PR and returning to the native country. When you are a PR, you don’t quite enjoy the benefits that a native citizen of that country enjoys yet you pay taxes there. The money factor always seems convincing as the the value of the currency would be X times in your country.
There has been a steep drop in the number of people staying back in certain countries because of the stringent Visa policies. Reports say students who went overseas for education, are facing a tough time finding a job. Many have returned home. And some are now casting the net wider — looking for jobs from the US to Hong Kong and Singapore — or settling for sub-optimal options. Rupa Chanda, professor, IIM-Bangalore, who has worked on reports on international student mobility, says visa and immigration is the biggest factor affecting Indian students’ decisions.
The US, UK and Australia are the three most popular destinations where global education is sought. Many students take hefty education loans to finance their studies abroad. While many would find decent jobs back in their home country that would not help much as these students need dollar salaries to comfortably service their loan. This is taking its toll. “Overseas education is costly. Many Indian students are doing a cost-benefit analysis to figure how to recoup their investments overseas and putting off their plans [to study there],” explains New York-based Rahul Choudaha, chief knowledge officer, World Education Services (WES), a non-profit organisation that provides credential evaluations for international students planning to study or work in the US and Canada.
All of these align well with the trend of rising international mobility of students. What is more interesting is the share of students from the developing countries is rising year on year.
Source: Economic Times