‘Is it okay to be saddled with crazy debt?’ Zerodha’s Nikhil Kamath questions idea of studying abroad
Kamath was quoting numbers from a report by Investy Wise. The report revealed that the majority of the Indians (190,512) go to the US to study, followed by countries like Canada, the United Kingdom, Australia, Germany, and Russia.
- Feb 22, 2023,
- Updated Feb 22, 2023 8:41 PM IST
The world is witnessing an economic slowdown. Amid the layoffs and rising interest rates in the US, Zerodha’s co-founder Nikhil Kamath questioned the idea of students going abroad to study at foreign universities.
“With rising interest rates in the west and the mass firing in high-paid tech jobs, one seriously needs to reconsider the many new universities set up in India, which have improved tremendously. It's one thing to go abroad to study and network, another to be saddled with crazy debt for life at 7-8 per cent…”, the entrepreneur and investor wrote on professional networking platform, LinkedIn.
Kamath was quoting numbers from a report by Investy Wise. The report revealed that the majority of the Indians (190,512) go to the US to study, followed by countries like Canada, the United Kingdom, Australia, Germany, and Russia.
In addition, the American market has been facing a lot of instability. Some of the biggest tech companies such as Google, Meta, Amazon, HP, and others announced massive layoffs.
Kamath’s post got mixed responses. A few people argued that while studying abroad gives a good return on investment (ROI), others said that Indian universities are also developing and should be considered at par with international ones.
“It’s all about probabilities - in most careers you are still more likely to find a higher paying job in USA than India - the return on investment (time and money) is better in USA. Also, there are massive layoffs in India, and youth unemployment remains high. And in general, the quality of education is also better in USA,” wrote Rachita Daga, Economist at the World Bank.
Another user pointed out, “India has made significant strides in improving the quality of its higher education system, with the establishment of many new universities and institutions in recent years. These institutions offer a wide range of courses and specializations, and their academic programs are designed to meet global standards.”
Also Read: Flipkart, BYJU’S investor CPP says it doesn’t have 'big bang approach' when it comes to investing
The world is witnessing an economic slowdown. Amid the layoffs and rising interest rates in the US, Zerodha’s co-founder Nikhil Kamath questioned the idea of students going abroad to study at foreign universities.
“With rising interest rates in the west and the mass firing in high-paid tech jobs, one seriously needs to reconsider the many new universities set up in India, which have improved tremendously. It's one thing to go abroad to study and network, another to be saddled with crazy debt for life at 7-8 per cent…”, the entrepreneur and investor wrote on professional networking platform, LinkedIn.
Kamath was quoting numbers from a report by Investy Wise. The report revealed that the majority of the Indians (190,512) go to the US to study, followed by countries like Canada, the United Kingdom, Australia, Germany, and Russia.
In addition, the American market has been facing a lot of instability. Some of the biggest tech companies such as Google, Meta, Amazon, HP, and others announced massive layoffs.
Kamath’s post got mixed responses. A few people argued that while studying abroad gives a good return on investment (ROI), others said that Indian universities are also developing and should be considered at par with international ones.
“It’s all about probabilities - in most careers you are still more likely to find a higher paying job in USA than India - the return on investment (time and money) is better in USA. Also, there are massive layoffs in India, and youth unemployment remains high. And in general, the quality of education is also better in USA,” wrote Rachita Daga, Economist at the World Bank.
Another user pointed out, “India has made significant strides in improving the quality of its higher education system, with the establishment of many new universities and institutions in recent years. These institutions offer a wide range of courses and specializations, and their academic programs are designed to meet global standards.”
Also Read: Flipkart, BYJU’S investor CPP says it doesn’t have 'big bang approach' when it comes to investing