What percentage of Indian parents would use their retirement savings to fund their child's overseas education?

According to the report, 64% of surveyed Indian parents would consume their retirement savings to cover the costs of a three- or four-year international degree program.

What are the two parts to financing overseas education for Indian students?

The first part involves considering tuition fees, living costs, and travel expenses, while the second part focuses on managing finances once the student arrives in the foreign country.

What is the importance of building a good credit history for Indian students studying abroad?

A good credit history in the host country is a necessary factor that locals consider when it comes to renting rooms/flats, securing favorable terms for phones, and, under certain circumstances, has a direct impact on employability checks.

Home / Education / Indian Parents Tap Retirement Funds to Finance Overseas Education

Indian Parents Tap Retirement Funds to Finance Overseas Education

4 Aug

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Summary

64% of surveyed parents would use retirement savings for overseas degrees
Importance of building credit history and opening local bank accounts
Avoiding high fees, foreign transaction charges on Indian cards

Indian Parents Tap Retirement Funds to Finance Overseas Education

According to a report published as of August 4th, 2025, a significant number of Indian parents are willing to dip into their retirement savings to finance their children's overseas education. The article states that 64% of surveyed parents would consume their retirement funds to cover the costs of a three- or four-year international degree program in countries like the US and the UK.

The article delves into the two-part process of financing overseas education. The first part involves considering tuition fees, living costs, and travel expenses, leading to the use of education loans, scholarships, and currency exchange. The second part focuses on managing finances once the student arrives in the foreign country, where adjusting to daily expenses and avoiding common banking mistakes can be challenging.

The article highlights several common banking errors that Indian students often make, such as not taking credit scores seriously, delaying the opening of a local bank account, overlooking hidden fees and charges, and relying on Indian debit/credit cards for an extended period. The article provides guidance on how to avoid these pitfalls, emphasizing the importance of building financial credibility, opening a student-friendly local bank account, and utilizing Forex cards instead of Indian banking cards to manage day-to-day expenses.

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