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Economic Recessions seems to have positive impact on the Universities in Canada. The Association of Universities and Colleges in Canada (AUCC) said as of September, there were 870,000 full-time students enrolled in universities. Of them, 733,500 were in undergraduate programs and 136,500 in graduate programs, representing a respective gain of 29,000 and 9,000 students over last year. This represents a 4.1 percent growth in undergraduate programs and a 7.2 percent increase in graduate programs.
“There is no question this is a reflection of what is going on in the economy,” says association spokesman Herb O’Heron . “It is really a strong response to the shifts in demands that are taking place. Part of it is the economy and part of it is the increasing value of a degree.”
In the last 12 months there have been more than 60,000 new jobs or university graduates, while there were 390,000 fewer jobs for those without higher education, the association said.
The US Consul General, Lisa Larson has issued a statement asking students not to approach Educational Agents for VISAs. These agents often charge students high sums of money for their services and for VISA related information. She added that all the information was available online on the US Embassy website, and the process was straightforward. Also, Lisa clarified that getting a US VISA has more to do with the VISA interview and less to do with the documentation that agents stress on.
This statement can actually put a lot of student concerns about US VISAs to rest. Also, it shows that students need not depend on Educational Agents for guidance on the VISA process.
In 2008, 95,414 foreign students were enrolled in Canadian universities, nearly double the amount from a decade before, according to statistics from Citizenship and Immigration Canada.
Of those students, the bulk settled in Canada’s major urban centres — one in five in both Toronto and Vancouver, about 12 per cent in Montreal, and another three per cent in each of Ottawa, Edmonton, and Calgary.
Canadian universities are increasingly looking overseas to recruit new students. For instance, in Ottawa one out of every 10 Carleton University undergraduates settling into the new school year is from outside of Canada. For graduate students, the ratio is closer to one in five.
The selling point is Canada’s cost competitiveness compared to similar institutions in the United States,and UK.
Smaller schools across Canada are up in arms over a proposal from five of the country’s largest universities to concentrate research and graduate studies in the big institutions. The leaders of McGill University and the universities of British Columbia, Alberta, Toronto and Montreal have proposed a national strategy for higher education that would see top research dollars go to fewer schools, in an effort to better use resources available.
The proposal has stirred controversy among the heads of smaller schools, many of whom feel graduate programs are an important part of any academic institution. Atlantic Canada universities are also concerned their region would be left behind if graduate studies and research dollars left.
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Following closely in the heels of the GRE, now the number of GMAT aspirants in India has dipped. Compared to around 6200 in 2008, the number of aspirants is a mere 5700 in 2009.
This is seen as a direct impact of the economic meltdown. Experts believe that the onset of a recession makes students go for further studies.
However, the stabilization of a recession makes is more likely that students continue with their jobs, postponing further study options till the economy takes a turn for the better. Another aspect favoring the dip is the recent decline of the rupee with respect to the dollar.
South Korea is another country, where a similar trend (20% reduction) can be observed. On the contrary, the number of GMAT takers in China has risen by 34%.
The number of US VISA applications has fallen 14% between October 2008 and January 2009. While this is just a representative number – it does point out that Indian students are not so keen on studying abroad this year. A number of factors, including lesser financial aid and poor job outlook after graduation are contributing to this scenario.
It is interesting to note that a number of other countries are looking at this year as an opportunity for attracting Indian students.
Canada is positive on making gains in the number of Indian students. The Canadian minister for immigration has revealed plans for actively promoting colleges in India. They plan to highlight getting permanent residence and employment opportunities, in their bid to attract students.
Britain on the other hand, has launched a new VISA category – “Tier 4”, for international students. This idea is expected to attract a large number of international students – especially Indians. The numerous 1 year courses are another attractive offering for students. These are perceived as “value for money” and also give students the opportunity to enter the job market more quickly. A number of international students scholarships are also in place for making the UK an attractive destination for Indian students.
New Zealand is expecting a 30% increase in the number of Indian students. After graduation, students will now be put in the Skilled Immigrant category – affording them significant advantages.
France is also sporting a positive outlook. A number of student friendly shifts and offers are already in place. Perhaps, most noteworthy is the fact that Indian students can now stay in France and engage in job hunting for 6 months after completing their course.
Australia has initiated a $3.5. million marketing campaign for reaching out to Indian students. Australia isn’t hit by the recession and other factors such as unemployment welfare provisions and overall financial health make it a recurring favorite for Indian students.
A report commissioned by British Prime Minister Gordon Brown has stated that mergers between US and UK Universities could be a way of coping with competition from new colleges and Universities in India, China, Korea and the Middle East. With an increasing number of international campuses opening up, the task of attracting international students to US/UK in growing numbers has become complicated.
A recommendation in the report is the institution of an ambitious scholarship that will annually role out to around 12000 students (with half of the scholarship awards going to international students). This scholarship would be funded by the US & UK Governments, Private Sector Firms, Philanthropic Institutes and by other Universities. The other alternative to co-operation would be mutual competition. Given the current trends, it is unlikely that the higher education scenario would radically improve in the event of intensification of competition between US & UK institutes.
The number of applications to MBA Institutes this year has risen by a staggering amount. To put it simply, the increase is as sharp as 65%.
Given the high investment of both time and money that an MBA demands, the increase counter intuitive. Among various explanations, the one which seems most feasible is that professionals are looking at MBA as an opportunity for personal and professional growth. In an era where lay offs are commonplace, a 2 year stint in a good business school does seem like a good bet to outlast the recession and to rebound with great professional growth.
Another interesting trend is the dip in the number of Indians who have applied to US Business Schools for MBA Programs. This dip is accompanied by a spike in the number of applications by Indians to Business Schools in Canada & Europe. The change in preference is explained by an uncertain VISA scenario, coupled with the lack of financial assistance in the US. This is contrasted by a more welcoming outlook that Canada and European countries have (w.r.t. VISA) and better financial aid opportunities and most importantly, more affordable fees.
Whether it’s a good idea to enroll in a 2 year MBA or not, is a question that only time can answer. However, for the moment, it does seem like a really good bet!
