Non-bank lenders, recruiters, and consultants in Punjab are seeing a five-fold increase in education loan applications from students and young professionals who want to study in Canada, Australia, and Europe.
During the time 2023, 478,000 people from Punjab have left the country for employment since January 2016, while 262,000 students have gone abroad for studies during the same period.
Students who want to study abroad for the opportunity to pursue specialized courses, the prospect of high-paying jobs after graduation, exposure to different cultures and the high quality of education.
Punjab is the third largest state of Indian students who are interested in studying abroad. During the time 2023, over 2.62 lakh youth from Punjab have moved abroad for studies since 2016.
Himachal Pradesh, Haryana and Chandigarh are at the top where students are interested in settling in abroad. During the time 2023, more than 126,000 people from Chandigarh 36,806 from Himachal Pradesh and 31,482 from Haryana have moved abroad since January 2016.
Similarly, over 176,000 youth from Chandigarh, 43,135 from Haryana, and 9,463 from Himachal Pradesh flew overseas during this period for higher studies. However, the exact state-wise details of the number of people who have gone abroad for studies cannot be determined.
This is because an Indian citizen from one state could have departed from an immigration checkpost in another state. The data is from the issuance of passports by the regional passport office.