Billions Spent on Foreign Education as Nepali Student Migration Rises

A large amount of money has been leaving Nepal in the name of foreign education, according to new data. Nepal Rastra Bank reported that in the first seven months of the current fiscal year 2082/83, about Rs. 64.15 billion has gone abroad for education alone. Under the service account, travel expenses increased by 10.6 percent to Rs. 115.88 billion, with the biggest portion spent on education. In the same period last year, Rs. 66.64 billion was spent on education, while the net service income has now reached a deficit of Rs. 50.22 billion. In recent years, the number of Nepali students going abroad for higher studies has been rising rapidly, and large crowds of students with visas heading overseas are commonly seen at Tribhuvan International Airport. Experts say students are attracted to foreign countries due to better education quality, employment opportunities, delays in the examination system, and the chance to study and work at the same time. As a result, Nepal is losing both a huge amount of money and a significant number of skilled young people.