For generations, education was the preferred route through which Indian families sought to improve their economic prospects. The willingness to invest in learning often survived financial hardship, uncertain returns and even debt. In recent decades, that faith expanded beyond national borders as overseas education came to be viewed as a gateway not merely to better qualifications but to global careers, higher incomes and, in many cases, migration. That calculation is now undergoing a profound reassessment.

The challenge extends far beyond the rising cost of tuition. What is changing is the entire ecosystem that once made foreign education appear a relatively predictable investment. A weaker rupee has undoubtedly increased the financial burden on students and their families. But exchange rates alone do not explain the growing hesitation. Equally significant are tighter immigration rules, shrinking opportunities for post-study settlement and labour markets that no longer guarantee a smooth transition from university to professional employment. The shift reflects a broader transformation in the developed world.

Countries that enthusiastically attracted international students for decades are increasingly caught between economic dependence on global talent and domestic........

© The Statesman