‘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 mother and father are spending a good portion of their retirement financial savings on their youngsters’s overseas schooling. The put up, shared on social media, has ignited discussions in regards to the rising value of schooling, the pressures confronted by mother and father, and the significance of economic planning for retirement.

With the rising prices of finding out overseas, extra mother and father are setting apart a big a part of their revenue for this, stated Aviral Bhatnagar, IIM-A alumnus and founding father of AJVC funding agency. In a LinkedIn put up, Bhatnagar identified that many households are utilizing over half of their retirement financial savings to fund their youngsters’s desires 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 baby’s overseas schooling. 50L+ spent is a problem for prosperous Indians, who would make the highest 0.5 per cent of the nation. Not house shopping for, however schooling is the most important fear. Schooling no extra inexpensive,” Bhatnagar, who had graduated from IIT Bombay, famous in his put up.

His put up sparked a debate on LinkedIn, with many customers sharing their views. One commented, “Whereas overseas schooling is pricey, the larger subject 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 key when evaluating schooling.”

One other consumer thinks Indians are overly targeted on “getting a flowery diploma,” which is why “spending greater than half of 1’s internet value has grow to be frequent.” The consumer added that the majority college students going overseas are “motivated by a fascination with overseas international locations and the western way of life.”

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