BANGALORE: Developing country like India has today emerged as the least expensive foreign destination for education. The average annual cost, including university fees and living expenditure of an undergraduate international student in India comes upto $5,642, of which $581 is university fees.
Among a list of 15 countries based on the survey ‘The Value of Education: Springboard for success’ by HSBC, Australia, Singapore and U.S. occupy the top three positions in the expenditure chart for overseas students.
Sanjiv Sud, Head of retail banking and wealth management, HSBC India, said, “Education costs are lower in emerging markets such as India because the state-run universities are heavily funded by the government and also the cost of living for overseas students is lower here,” reports PTI.
Indian parents perceive the U.S. provides the highest quality of education. About 62 per cent of Indian parents ranked the U.S. in their top three destinations for quality education, the survey report shows.
The report also suggests Indian parents with higher incomes are more likely to regard the U.S. (69 percent) and the UK (67 percent) as providing the highest quality education compared with parents with lower household incomes: U.S. (55 percent) and UK (40 percent).
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