‘Most students motivated by fancy degree and western lifestyle’: Netizens react after IIM alumnus says Indians spend 60% retirement money on child’s foreign education

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 submit, shared on social media, has ignited discussions concerning the rising value of schooling, the pressures confronted by dad and mom, and the significance of economic planning for retirement.

With the rising prices of learning overseas, extra dad and mom are setting apart a big a part of their earnings for this, mentioned Aviral Bhatnagar, IIM-A alumnus and founding father of AJVC funding agency. In a LinkedIn submit, Bhatnagar identified that many households are utilizing over half of their retirement financial savings to fund their youngsters’s goals of learning abroad. He added that almost all 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 little one’s overseas schooling. 50L+ spent is a problem for prosperous Indians, who would make the highest 0.5 per cent of the nation. Not dwelling shopping for, however schooling is the largest fear. Schooling no extra reasonably priced,” Bhatnagar, who had graduated from IIT Bombay, famous in his submit.

His submit sparked a debate on LinkedIn, with many customers sharing their views. One commented, “Whereas overseas schooling is dear, the larger difficulty is how we understand its worth. It is not nearly affording it, however whether or not the return on funding is value it—one thing that was once key when evaluating schooling.”

One other person thinks Indians are overly targeted on “getting a elaborate diploma,” which is why “spending greater than half of 1’s internet value has develop into widespread.” The person added that almost all college students going overseas are “motivated by a fascination with overseas international locations and the western life-style.”

One person identified that learning at non-public establishments in India may be simply as costly as learning overseas. Additionally they claimed that many college students going abroad “fail to get into their most well-liked programs” in India. The LinkedIn submit has acquired over 1,500 reactions because it was shared.