A social media post about the return on investment (ROI) of studying abroad has gone viral, sparking a debate over the financial considerations students and families should weigh before deciding to pursue higher education overseas. The post highlights factors such as education costs, cost of living, rent, taxes, potential earnings, and savings, while stressing the importance of doing the math before making a final decision about studying abroad.
Instagram user Harsh Gupta, who describes himself as a "Wealth Advisor" and "Land Investor" in his Instagram bio, wrote that "going abroad looks like a dream until you actually do the math."
"Between crazy rent, taxes, and the cost of living, earning in dollars or CAD often leaves you saving less than a standard job back home," he wrote.
In his Instagram post, Gupta highlighted the experience of a friend's family and the significant financial measures they took to fund their son's education in Canada.
According to Gupta, the family broke 15 years' worth of fixed deposits (FDs) to fund their son's Master of Science (MS) degree in Canada, spending around Rs 50 lakh. He claimed that their son now earns CAD 55,000 a year in Toronto but, after accounting for rent, taxes, and other expenses, saves less than he would have while working in a mid-sized Indian city.
He further pointed out what he described as the "opportunity cost" of investing the Rs 50 lakh in India instead of spending it on overseas education.
"Foreign degrees are sold as an escape. Sometimes they're just an expensive way to discover the grass wasn't greener, just further away," the post stated.
A social media user commented on the post, "At this point, I have no sympathy for people who make such moronic decisions."
The viral post has brought renewed attention to the importance of assessing the overall financial outcome of studying abroad rather than considering only the perceived benefits of an overseas degree.
