An alumnus of the Indian Institute of Administration (IIM) has sparked a heated debate on-line after claiming that many Indian dad and mom are spending a good portion of their retirement financial savings on their youngsters’s overseas schooling. The publish, shared on social media, has ignited discussions concerning the rising price of schooling, the pressures confronted by dad and mom, and the significance of monetary planning for retirement.
With the rising prices of finding out overseas, extra dad and mom are setting apart a big a part of their revenue for this, mentioned Aviral Bhatnagar, IIM-A alumnus and founding father of AJVC funding agency. In a LinkedIn publish, Bhatnagar identified that many households are utilizing over half of their retirement financial savings to fund their youngsters’s goals of finding out abroad. He added that the majority households within the nation make investments a giant portion of their future financial savings to ship their youngsters to overseas universities.
“Indians are spending greater than 60% of their retirement financial savings on their youngster’s overseas schooling. 50L+ spent is a problem for prosperous Indians, who would make the highest 0.5 per cent of the nation. Not residence shopping for, however schooling is the most important fear. Training no extra inexpensive,” Bhatnagar, who had graduated from IIT Bombay, famous in his publish.
His publish sparked a debate on LinkedIn, with many customers sharing their views. One commented, “Whereas overseas schooling is pricey, the larger challenge is how we understand its worth. It isn’t nearly affording it, however whether or not the return on funding is price it—one thing that was key when evaluating schooling.”
One other consumer thinks Indians are overly centered on “getting a elaborate diploma,” which is why “spending greater than half of 1’s web price has turn into widespread.” The consumer added that the majority college students going overseas are “motivated by a fascination with overseas international locations and the western life-style.”
One consumer identified that finding out at personal establishments in India might be simply as costly as finding out overseas. In addition they claimed that many college students going abroad “fail to get into their most well-liked programs” in India. The LinkedIn publish has obtained over 1,500 reactions because it was shared.
