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Geeta

Geeta Ratra  |118 Answers  |Ask -

Visas, Study Abroad Expert - Answered on Nov 07, 2023

Geeta Ratra has been an immigration expert for more than two decades and has strong knowledge of international immigration policies and procedures. She is vice president, operations, at Abhinav Immigration Services. Besides visa and immigration services, they also provide study abroad advice that includes application assistance, counselling and university shortlisting.... more
MURALI Question by MURALI on Sep 09, 2023Translate
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My son completed CBSE Class XI PCM with 84% in 2023. Like to join for BTech in Australia/Canada/Switzerland. Please advice

Ans: Hello Murali
Congratulations on your son's achievement! To pursue a BTech in Australia, Canada, or Switzerland, research universities and their admission requirements. Start with English proficiency tests (IELTS Academic/TOEFL) and prepare for standardized tests (SAT/ACT) as needed. Make sure you understand visa requirements and financial aspects. Consider consulting with educational consultants for guidance.
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Sushil

Sushil Sukhwani  |200 Answers  |Ask -

Study Abroad Expert - Answered on Aug 09, 2023

Asked by Anonymous - Aug 08, 2023Translate
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Hello....my son wants to go abroad either US, Canada or UK for undergrad BBA education. Mostly we are keen to send bcos he is average student and getting admission in India in any good college is difficult. Is it the right thought process, we are confused. Pls guide.
Ans: Hello,

First and foremost, thank you for contacting us. The fact that you are exploring choices for your son's education is excellent. Studying abroad can be a great experience, and it’s crucial to thoroughly consider the benefits and drawbacks of the same.
When determining whether your son should pursue an undergraduate BBA program overseas, keep the following aspects in mind:

1. Educational Excellence: Universities in the USA, Canada, and the UK offer excellent instruction and cutting-edge learning. Your son could have access to world-class instructors, resources, and opportunities that are not available in many Indian educational institutions.

2. Diversification and Exposure: Studying abroad exposes your son to new cultures, viewpoints, and ways of thinking, extending his horizons and boosting personal and professional development.

3. Networking Possibilities: Universities overseas frequently offer great networking chances with other students, faculty, and business people. His future professional life may benefit from these ties.

4. Employment Possibilities: International students are permitted to work after completing their education in some nations, such as Canada. This could be a good opportunity for your son to obtain international work experience and possibly settle in that country.

5. Challenges: It might be difficult to relocate to a new nation, especially for an average student. He'll need to acclimatize to a new educational system, culture, and perhaps a new language. It's crucial to think about how he'll respond to these difficulties.

6. Expense: Tuition, living costs, and travel expenditures can all add up to make studying abroad prohibitively expensive. Consider the financial factors and look into scholarship and financial aid assistance alternatives.

7. Admission Prerequisites: Getting into prestigious colleges abroad can be tough, just as admission may be competitive in India. Examine your son's eligibility by looking up the entrance standards for the colleges he is considering.

8. Various Alternatives: Investigate further alternatives in India. There are respected institutions in India that provide BBA programs, and some colleges collaborate with foreign institutions to offer exchange programs that could give students a worldwide experience.

9. Future Plans: Your son's long-term career aspirations should be discussed, as well as how studying abroad fits into those ambitions. It's critical to take a career that supports his goals.

The choice should ultimately be based on your son's preferences, skills, and long-term objectives. Include him in the decision-making process and urge him to look into and get in touch with current or former students or alumni of the school he's thinking about.

Consult educational professionals, attend informational workshops, and look into the universities and nations he prefers before making a decision. This guarantees a well-informed decision for your son's requirements and goals.

For more information, you can visit our website.
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Sushil

Sushil Sukhwani  |200 Answers  |Ask -

Study Abroad Expert - Answered on Jan 11, 2024

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My son is doing 2nd year mbbs in tamil nadu government medical college, he wants to do his pg in Australia or dubai suggest me what are the steps needed for that ? We are below middle class .
Ans: Hello Southa,

To begin with, thank you for contacting us. I am glad to hear that your son is currently pursuing the 2nd year of his MBBS degree and thereafter wishes to pursue his post-graduation (PG) in Australia or Dubai. As an answer to your query, I would like to tell you that the following procedures and considerations need to be taken into account in order for your son to pursue his postgraduate studies. Your son will first need to shortlist universities that provide the PG programs he’s interested in pursuing. I would recommend that he looks into the particular prerequisites as well as eligibility requirements for postgraduate courses in these preferred countries. This entails academic credentials, examinations viz., the PLAB or AMC exams in Australia, hands-on (job) experience, as well as appearing for language competency tests viz., OET or the IELTS. Fill out and submit applications, and be sure to include all the necessary documentation. Your son will also need to consider other aspects. He will need to take into account the prerequisites for health insurance for overseas students in the country he decides to study in. I would also suggest that your son investigates the lodging options and arranges for the same well in advance. In addition, considering you belong to the middle-class category, it’s essential that your son plans his finances. He should investigate the grants, scholarships, and other forms of monetary assistance offered to overseas students studying in Australia or Dubai. Moreover, to reduce the costs of living, your son should engage in part-time jobs available for students in these nations. He should comprehend the visa prerequisites associated with studying in these two countries and finish the visa application procedure. Remember that acquiring assistance from experts or academic advisors with expertise in foreign admissions can prove beneficial. They will be in a better position to offer guidance throughout the application procedure, provide assistance with all the required paperwork, as well as provide information on the courses that would best resonate with your son's future goals and monetary circumstances. Finally, to enhance your son’s application to pursue postgraduate courses abroad, I would recommend that you support him in achieving academic excellence and acquiring pertinent work experience.

For more information, you can visit our website.
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Moneywize

Moneywize   |59 Answers  |Ask -

Financial Planner - Answered on Feb 25, 2024

Asked by Anonymous - Feb 24, 2024Translate
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I will be retiring in October 2024 and expecting a retirement corpus of Rs 80 lakh. I would be spending 60 per cent of this amount on my son’s medical admission and studies. How should I invest the rest in different sectors to earn monthly income of nearly about 40,000?
Ans: Given your retirement corpus of Rs 80 lakh and your plan to allocate 60% of it towards your son's medical admission and studies, which amounts to Rs 48 lakh, you'll have Rs 32 lakh remaining for investment. To generate a monthly income of approximately Rs 40,000, you'll need to carefully plan your investment strategy. Here's a suggested approach:

1. Assess Your Risk Tolerance: Before investing, consider your risk tolerance, investment horizon, and financial goals. Since you're retiring soon and seeking a regular monthly income, it's advisable to focus on relatively stable and income-generating investment options.

2. Allocate Funds: With Rs 32 lakh available for investment, you can allocate the amount across different investment instruments to achieve diversification and manage risk.

3 Income-Generating Investments: To generate a monthly income of Rs 40,000, you'll need investments that offer regular payouts. Here are some options to consider:

a. Senior Citizen Savings Scheme (SCSS): This government-backed savings scheme offers quarterly interest payouts. You can invest up to Rs 15 lakh individually and earn regular income at a fixed interest rate, currently around 7.4% per annum.

b. Post Office Monthly Income Scheme (POMIS): Another government-backed scheme that provides monthly income. The maximum investment limit is Rs 4.5 lakh for an individual account and Rs 9 lakh for a joint account. The current interest rate is around 6.6% per annum.

c. Fixed Deposits (FDs): Consider investing a portion of your corpus in fixed deposits offered by banks or financial institutions. Opt for monthly interest payout FDs to generate regular income.

d. Debt Mutual Funds: Invest a portion in debt mutual funds that focus on generating steady income with relatively lower risk compared to equity funds. Choose funds with a track record of consistent returns and low expense ratios.

4. Systematic Withdrawal Plan (SWP): For investments in mutual funds or other growth-oriented instruments, consider setting up a systematic withdrawal plan. SWP allows you to withdraw a fixed amount regularly, which can serve as your monthly income.

5. Emergency Fund: Set aside a portion of your corpus as an emergency fund to cover unexpected expenses or contingencies. This fund should be easily accessible and parked in liquid or low-risk instruments like savings accounts or liquid funds.

6. Review and Adjust: Regularly review your investment portfolio to ensure it remains aligned with your financial goals and income requirements. Adjust your asset allocation and investment strategy as needed based on changing market conditions and personal circumstances.

It's crucial to consult with a financial advisor or planner who can provide personalised advice based on your specific situation and goals. They can help you create a comprehensive retirement plan and investment strategy tailored to your needs, risk tolerance, and income requirements. Additionally, consider tax implications on your investment income and consult with a tax advisor to optimise your tax efficiency.
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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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