B.B King famously said, “ Education is the one thing that no one can take from you.” and in this modern world it is your passport to a better and prosperous future.

The most common trend that we have been witnessing in Nepal is a large scale migration of youths to foreign nations seeking higher education. As our youth choosing to acquire education in a foreign land, they dream of having a better standard of living. For many it might be a necessity as the course they desire to study is not available in Nepal. But in recent years it has become a norm and in some parts an act for pride. We see many blaming westernisation, and modern values for the rapid migration but the one of the culprit is the poor education structure, along with mismanagement and lack of proper investment in infrastructure and development. This has highly accelerated the migration process, which is not cheap. 

To know if the cost of a foreign degree is worth it, we consulted with Dwiraj Sharma at Alfa Beta Group -Int’l Education Dept to get a better understanding of its cost and worth. Please could you briefly describe the cost of acquiring a foreign degree?
It depends upon the universities and the of course an individual wants to study, but in averages the cost comes around 10,000 - 20,000 dollars only for tuition, which once converted to Nepali currency is 10-20 lakhs. Adding the cost of preparation, transportation and the overall cost of living the number goes even higher and that in general is the addition of another 10 lakhs per year.

How much does the tier of the university vary the cost ? 
The tiers of the universities directly affect the cost of the degree which is also influenced by the employability of the course.Talking about the top tier universities in the USA, tuition cost at an average of 50,000 $ per semester only for the tuition. Whereas in mediocre universities, the tuition fees begin at an average of 10,000 $. 

How much does the exchange rate affect? 
It definitely does affect the overall cost of a foreign degree. The difference in the countries economy that influences the exchange rate, can have a multitude of effects. Students who plan to study in countries where the difference isn’t much, can get more value in terms of exchange. But for students who wish to study in nations with a higher difference in rates, need to invest more of their national currency, which automatically increases the cost of the entire degree. 

Is the cost of a foreign degree really worth it? 
Absolutely if they utilize it properly other wise their is no guarantee. An individual can invest less here in Nepal and get better benefits if they utilize their resources and education well. Thus, the worth of the degree is highly dependent on the individual themselves and also the family. Understanding the essence of the education, is the first step towards reaping the best out of ones degree. Examples have shown, how individuals who have acquired a foreign degree and fair well in comparison ones who don’t. That is only one side of the coin of foreign education, many individuals who don’t receive proper guidance, and view a foreign degree as just a means of escaping problems here. Get into allot of trouble, by circling themselves in bad company. It is famously said, “ You are as good as your peers”, and in this case the bad company at times leads to addiction, they drop out of their course, and never choose to come back. So the million dollar question is, “Why do individuals and families choose to invest such high amounts for a degree?”

Its because the western nations already have a proven track record of success. The amount of money that governments choose to investment in the development of education infrastructure and technology shows how important education is for these nations. For example, The United State of America alone invested 50 billion dollars in their education department. This is incomparable with the about our government spends in education. Thus, seeing that prospect of individuals choose to invest in educating their children in a foreign nation. 

A good degree acquired with hard work and dedication, triggers a domino effect. The moment they graduate they get a good job, in a few years time they are likely to get permanent residency and later become a citizen. They are now able to educate their children there, invite their parents who might have never dreamt of travelling . Whenever I travel to Australia, I see such parents who are overwhelmed but have this profound happiness to being able to board a plane to see their children and grand children. 

Any good investor looks for one thing and that is,”Return” and the return on a good foreign degree is huge. It is not that one can’t invest in a good education here in Nepal, for example a medical degree in Nepal costs a total of 50 Lakhs. The moment one graduates, they are disappointed of the return they receive. If the same about they invest in a foreign nation, the return is unparallel. Thus a whole lot of individuals are leaving in pursuit of a better return for their investment.

The government instead of just stating that they are leaving, should start seeing the problem for what it is. And start developing better educational policies, begin investing in various elements of education such as infrastructure, technologies and courses. Which basically helps increase the return on investments for the students.