{"id":2654,"date":"2023-03-10T13:48:30","date_gmt":"2023-03-10T08:18:30","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=2654"},"modified":"2023-03-10T17:33:45","modified_gmt":"2023-03-10T12:03:45","slug":"study-abroad-education-loan-amount-in-2022-18-more-than-in-2021-news-2023-03","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/news-updates\/study-abroad-education-loan-amount-in-2022-18-more-than-in-2021-news-2023-03\/","title":{"rendered":"Study Abroad: Education Loan Amount In 2022 18% More Than In 2021"},"content":{"rendered":"\n<p>Indian students are steadily becoming a huge source of boost in foreign economies. UniCreds reported an 18% increase in student loan disbursement between 2021 to 2022. A total of 69,898 students are supported with an education loan in 2020. In 2012- 2013 there were only 22,200 students who received an education loan. Currently, the UK is having the <a href=\"https:\/\/leverageedu.com\/learn\/uk-student-visas-for-indians-outnumbers-others-news-2023-03\/#:~:text=While%20Indians%20had%20already%20outnumbered,is%20a%20new%20height%20achieved.&amp;text=Student%20visa%20issuances%20to%20Indian,visas%20in%20financial%20year%20FY22.\"><strong>highest number<\/strong><\/a> of Indian students. Australia is also having a <a href=\"https:\/\/leverageedu.com\/blog\/indian-students-have-outnumbered-chinese-in-australia-news-2022-10\/\"><strong>huge surge<\/strong><\/a> of Indian students which increased the requirement for education loans to a huge extent.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Student loans worth Rs 39,268.82 crore \u2013 close to India\u2019s entire higher education budget of Rs 40,828.35 crore for 2022-23 \u2013 were disbursed in the last 10 years.<a href=\"https:\/\/twitter.com\/itssheena07?ref_src=twsrc%5Etfw\">@itssheena07<\/a> reports<br> <a href=\"https:\/\/t.co\/tn6zl7BCYK\">https:\/\/t.co\/tn6zl7BCYK<\/a><\/p>&mdash; Sanjay (@MeSanjayy) <a href=\"https:\/\/twitter.com\/MeSanjayy\/status\/1625104267077120000?ref_src=twsrc%5Etfw\">February 13, 2023<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-growth-in-disbursement-of-education-loan\"><span id=\"growth-in-disbursement-of-education-loan\">Growth in Disbursement of Education Loan<\/span><\/h2>\n\n\n\n<p>Bhagwad Karad, Minister of State for Finance with the Lok Sabha, declared a huge number of loan disbursements. Over the past 10 years, India has seen a 215% increase in loan disbursement for study purposes. From 2012 to 2022, nearly 4.6 lakh students availed of an education loan. The exciting part is that 9.18% of these students availed of a loan to study medicine abroad. The growth that trebled down in 2021 successfully took back to 69,898 students in 2022.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/c6EkE4jrlWSOUtPjvqj3DFRCKurh7ftrU0kqIiiUW-zz5lLM5RNl0BPDoQ-9sgC21qxR2vzSJ_3_7YBvuVmY1SllPGDDXYWzmhQZbcvCYPIkYljGY2me9dJc9wZ_fqVhOXO6CiAzirSaqL_MEx-WV-s\" alt=\"education loan\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-study-abroad-disbursed-loan-amounts\"><span id=\"study-abroad-disbursed-loan-amounts\">Study Abroad Disbursed Loan Amounts<\/span><\/h2>\n\n\n\n<p>In the past ten years, India has disbursed 2022-2023 higher education budget worth of education loans to students. This amounts to INR 39,268.82 crore. Out of this budget, INR 1,790.16 crore disbursed to students taking up medical courses abroad. Steady growth observed in the medicine stream as well. Students looking for studying abroad with medical courses took INR 289,82 crore worth of study loans. This was a 459% hike within a decade. The hike is noticed in the latest years post covid and the Ukraine-Russian war. These events made medicine come to the forefront saving other industries worldwide.<\/p>\n\n\n\n<p>The Indian Government has streamlined the education loan application process with the Vidya Lakshmi portal. This portal contains all relevant information and updates regarding education loans for studying abroad. You can read more about study abroad loans <a href=\"https:\/\/fly.finance\/loans\"><strong>here<\/strong><\/a>.<\/p>\n\n\n\n<p>Follow <a href=\"https:\/\/leverageedu.com\/learn\/category\/news-updates\/\"><strong>Leverage Edu News Updates<\/strong><\/a> for the latest information around study abroad!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Education loan for Indian students going abroad has increased by 18% since 2021 with a 215% increase in the number of students applying.<\/p>\n","protected":false},"author":5,"featured_media":2670,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[260],"tags":[],"class_list":["post-2654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ 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