Majority of Wealthy Indians Eye Overseas Education for Children

A survey reveals that over 75% of wealthy Indians are planning to send their children abroad for education. The study, commissioned by HSBC, highlights that the United States is the top destination, followed by the UK and Canada. Parents are willing to face financial strains to ensure quality overseas education for their children.

Over three-fourths of affluent Indians are considering or have already planned to send their children abroad for higher education, according to a recent survey.

The survey, encompassing 1,456 Indians with investable assets between Rs 84 lakh and nearly Rs 17 crore, indicates a strong preference for overseas education, with 78% favoring it for their children.

The study, conducted by HSBC's Global Quality of Life 2024 survey, identifies the United States as the most favored destination, followed by the United Kingdom and Canada.

Despite the financial strain it imposes, parents are willing to sacrifice retirement savings, sell assets, and take loans to fund their children's education abroad.

Quality of education and specialization opportunities are cited as primary reasons for this preference, although financial concerns remain a significant worry.

(With inputs from agencies.)