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We have lots of students studying in the US to fulfil their dreams and get placed in a good company. Most of these students are struggling to handle the cost of living because of the falling rupee value. If a student is receiving funds from India for making a living until they complete their studies, it can be quite challenging because the value of rupee is very low and they end up receiving less compared to the past in terms of the value. This is creating tough times for the Indian students to pursue their education. They either end up doing any part-time job to match their basic needs or they create more pressure on their family.
It is not just students studying in the US is having this problem but also the students who are studying any European country or UK is also having the problem because the value of Euro and pound both are also equally increasing in their value like USD compared to that of the rupee. Due to this factor, if the cost of living is going to complicate in the coming years, people will start thinking before applying for their higher studies in these countries. However, the increase in currency value has made the foreign employers make lots of money now. They will now be able to send lots of money to their families in India.
People move from India to various other countries to get a good education. This also means that there are only limited educational institutions in India that provides value education to the people. If people are looking forward to learning new emerging technologies or advanced technologies, there are only a few institutions in India that can match students need. Even if there are a few options available in India itself, there is heavy competition compared to other countries. People start to look outside India to get a value based education. After they complete their education, they work and get settled in the same country or they move back to India.
For example, my friend completed Electronics and communication engineering in one of the top colleges in Chennai. After he completed the degree, he wanted to go only for a core job that will completely utilize his skills on the stream he studied. All the offers that he got were all IT company offers. He really wanted to be a part of a factory in the manufacturing sector implementing what he learned as part of his engineering degree. After continuous search and look out for the best opportunity and company, he ended up doing an additional degree related to finance that was totally contradicting to his engineering degree. But he somehow managed to find a job that will use both his engineering skills as well as ICWA skills. That is where he got himself settled. If he had not done his ICWA degree, it would have been a big challenge to identify a core company to work.
This is the current state of education in India. Though there are opportunities evidently visible in front of the eyes to learn new subjects in engineering, the application part becomes a great challenge. People are finding it very difficult to work in a place where they can actually use their skills. Most of the electrical engineers, mechanical engineers and biotechnology graduates end up working in IT company. It would be nice if they had the opportunity to do the actual engineering even in IT companies. The IT companies currently utilize only their communication skills. They don’t really care about their other skills and if at all they have one, what can a mechanical engineer do in an IT company. They are all developers just working on a source code that was already built. They don’t really do the architecture part or engineering part. The framework will already be available and they end up developing on top of a framework.
Students in the US are usually dependent on the money they receive from India. When the value of rupee is dropping every day, their family will have to send more money to fulfil the needs of their children. The cost of education has increased over 20 % for Indian students this year. This is not the case only in the US but also for other European countries as well as the United Kingdom. Students who have already paid 50 percent of the fees are now requesting the universities to provide them flexible payment option. Students who went there to study are not looking forward to doing part-time jobs to fulfil their basic needs and pay their university fees.
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