GyanDhan is an education financing platform for students looking to finance their education abroad. Established in 2016 with the aim to equalize and expand access to financing options, the organization has partnered with several lenders in the market, including public sector banks, private banks, NBFCs, and international lenders. They have streamlined the process of financing education, making it easier for thousands of students to achieve their study abroad dream.

GyanDhan, an education financing platform witnessed the trend of Indian students heading overseas for higher education and continues to gain momentum. With a record 7.50 Lakh Indian students traveling abroad for higher education in 2022, this trend shows no signs of slowing down. The number of students going abroad in previous years was – 4.4 lakh (2021), 2.59 lakh (2020), 5.86 lakh (2019), 5.17 lakh (2018), and 4.54 lakh (2017). This trend is especially evident in the city of Kolkata, which has seen a growing number of students from the city heading overseas for higher education.

GyanDhan, an education financing platform, saw ~2x growth in the number of loan applications from Kolkata in the last 2 years. At the heart of this trend is the desire of Indian students to gain access to world-class educational facilities, diverse academic programs, and excellent career opportunities. The top three study-abroad destinations for students from Kolkata are the United States, the United Kingdom, and Canada.

Kolkata, one of India’s major educational hubs, has been at the forefront of this trend, with a growing number of students from the city heading overseas for higher education. According to the MEA report on the number of students flying abroad for education, more than 60,000 students went abroad from Kolkata from 2016 to 2021. Ankit Mehra, CEO and co-founder of GyanDhan said: “Going abroad, while still a big financial decision, is no longer a luxury. Students see the huge value of studying abroad and are ready to invest in their future. The growing number of applications is proof that this trend will continue at an accelerated pace, expected to be 20% to 25% year-on-year.” In the last two years, the organization saw close to 150% growth in applications compared to the preceding 5 years (2016 to 2020).

One of the factors that have contributed to this trend is the changing attitudes and aspirations of Indian students. With the increasing globalization of the economy and the demand for highly skilled workers, Indian students are recognizing the importance of international exposure and the value of global education. Engineering, MBA, and MS are the top preferred courses of the students.

In recent years, there has been a significant increase in the number of scholarships and financial aid available to Indian students looking to study abroad. It has made it easier for students from all backgrounds to pursue their dreams of studying overseas. Studying abroad opens up a world of career opportunities for Indian students. By gaining international exposure and experience, students are better equipped to pursue careers in multinational corporations, international organizations, and other global companies.