Rs 50 Lakh Spent, Savings Lower: Viral Post Questions Canada Degree Cost
The post questions whether studying in countries such as Canada or the US always provides better financial returns than building a career in India. It highlights the need to consider tuition fees, rent, taxes, daily expenses, salaries, and savings before making such a major decision.
High Cost of Overseas Education
Instagram user Harsh Gupta, who describes himself as a “Wealth Advisor” and “Land Investor,” shared his views on the financial side of studying abroad.
According to Gupta, studying in a foreign country can look attractive because students may earn in currencies such as US dollars or Canadian dollars. However, a higher salary does not always mean higher savings.
He argued that students should look at how much money they can actually save after paying taxes, rent, food, transportation, insurance, and other expenses.
Example of a Canada Education Investment
Gupta shared the example of a family that reportedly spent around ₹50 lakh to send their son to Canada for a master’s degree.
According to his post, the family used money saved through about 15 years of fixed deposits to fund the education.
After completing his studies, the student reportedly found a job in Toronto with an annual salary of around CAD 55,000.
While this may appear to be a good salary when converted into Indian rupees, Gupta argued that the actual savings can be much lower after taxes, rent, and other living expenses.
He suggested that, in some cases, a person earning a reasonable salary in a mid-sized Indian city could potentially save a similar or larger amount because living costs are lower.
The Opportunity Cost
Another important point raised in the post is the opportunity cost of studying abroad.
If a family spends ₹50 lakh on overseas education, that money cannot be used for other purposes during the same period. For example, the family could have invested the money in property, mutual funds, fixed deposits, or other financial assets.
The potential return from these investments should therefore also be considered when calculating the real cost of studying abroad.
Foreign Salary Does Not Tell the Whole Story
One of the main arguments in the viral post is that students should not compare salaries only by converting foreign currency into Indian rupees.
For example, a salary that looks large after currency conversion may not provide the same lifestyle or savings because the cost of living in cities such as Toronto, London, New York, or Sydney can be significantly higher.
Rent alone can take a large part of a young professional’s monthly income. Taxes, healthcare, transportation, food, and other expenses can further reduce the amount left at the end of the month.
Studying Abroad Can Still Have Benefits
However, the financial calculation is different for every student. Studying abroad can provide international work experience, access to specialised courses, professional networks, and opportunities to work in global companies.
Some students may also earn significantly more after gaining experience or moving into specialised careers. Therefore, the decision cannot be based only on one salary example.
Think Before Making the Decision
The viral post has encouraged students and parents to look beyond the idea that a foreign degree automatically guarantees financial success.
Before spending a large amount on overseas education, students should calculate the total education cost, expected salary, taxes, monthly expenses, possible savings, loan payments, and long-term career opportunities.
The key message is simple: earning in a foreign currency does not automatically mean becoming financially better off. Students should carefully compare the numbers and consider both the financial and career benefits before deciding whether studying abroad is the right choice for them.