Almost 15 billion was spent on studying abroad in one month

Last July alone, foreign students spent 17 million rupees for studying in Nepal. Which is less than the same period last year.

Ashwin 27, 2081

Almost 15 billion was spent on studying abroad in one month

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Foreign exchange worth 14.92 billion rupees has been withdrawn in foreign studies alone in last July. Compared to the same period of the last financial year, the amount spent on foreign studies has increased by about 39 percent, according to the data of Rashtra Bank. In the first month of the last financial year, 10.74 billion rupees were released under this heading.

 

In the last few years, the data of the National Bank has shown that the foreign currency that goes out of Nepal along with the students for studying abroad has been continuously increasing. According to experts, there has been an increase in the trend of going abroad for higher education in recent years as there is work and good income along with studying abroad. They say that this has had a positive effect on the remittance flow.

Nepal has been experiencing political instability for a long time, government reports have shown that the number of young people leaving Nepal in the name of studies is increasing day by day due to lack of effective work from the state level for economic development, lack of new employment opportunities. This is confirmed by the fact that the government data shows that the amount of money leaving Nepal for studying abroad is continuously increasing after the covid infection.

In the last financial year alone, 1 trillion 25 billion 13 crore rupees were withdrawn from the country for studies. Last year it was 24 percent more than the previous financial year. In the financial year 079/80, 1 trillion 42 crore rupees were released for foreign studies. Similarly, according to the data of Rashtra Bank, 67 billion 70 million rupees were spent for studying abroad in the financial year 078/79, 46 billion 32 million rupees in the financial year 075/76 and 25 billion 81 million rupees in the financial year 076/77.

In the last one decade, the number of permission to study abroad has increased by almost three times according to the data of the ministry. In the financial year 071/72, 30 thousand 797 students took permission to study abroad. Even for older students, families send expenses for a few years . Therefore, compared to the previous year, the number of foreign study permit (No Objection Letter - NOC) has decreased, but the amount of money spent for study has increased. 

There are two types of opinion regarding whether it is right/wrong to withdraw a large amount of foreign exchange every year for study abroad. Some say that there is no need to worry about spending a lot of money on studying abroad. According to them, students who study abroad not only take money from Nepal, they acquire knowledge, learn skills, earn money and give Nepal's identity in the international world. If the situation in their country improves in the future, they will return to Nepal after seeing enough opportunities. So now, those studying abroad don't have to worry about spending too much money.

Another type says that the youth are forced to leave because there are no opportunities in Nepal and insists that the government should introduce a special program to stop them in their own country. It is time to wonder why so many students have gone to study abroad. They also say that the state should think about the weaknesses of Nepal's education system and curriculum. 

However, the government has no plans to return the students who have gone abroad to Nepal and make them stay in their own country. However, according to the suggestion of the National Bank, the government has banned the affiliation of foreign educational institutions in recent years.

Also, students from abroad come to study in Nepal. Especially, foreign students have come to Nepal to study subjects such as medicine, engineering, literature, and culture. However, the amount they spend here is an income for Nepal. According to Rashtra Bank data, foreign students have spent around 17 million rupees in one month of the current financial year. This amount is less than the same period last year .

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