Debt and Destinations: Understanding the Role of Education Loans and International Student Migration from India

Abstract

Over past decades, the country has witnessed a significant increase in students migrating abroad for higher education. The driving forces behind this trend include pursuing better career opportunities, higher salaries, and the prestige associated with foreign degrees. However, a crucial enabler of this migration is the availability of education loans. While these loans provide financial support for students to study abroad, they also pose a long
term burden, often leading to job mismatches, loan repayment difficulties, and economic stress. This study explores the interplay between education loans and the international migration of students from India, focusing on how financial accessibility influences their global academic pursuits and investigates the determinants of education loan uptake and the long term implications of debt on students' mobility and career outcomes.