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Foreign Student Eligibility for Finance/Economics Degrees in India?

Sushil

Sushil Sukhwani  | Answer  |Ask -

Study Abroad Expert - Answered on Feb 03, 2025

Sushil Sukhwani is the founding director of the overseas education consultant firm, Edwise International. He has 31 years of experience in counselling students who have opted to study abroad in various countries, including the UK, USA, Canada and Australia. He is part of the board of directors at the American International Recruitment Council and an honorary committee member of the Australian Alumni Association. Sukhwani is an MBA graduate from Bond University, Australia. ... more
Asked by Anonymous - Jan 31, 2025Hindi
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Career

Dear Sir , My daughter is currently an XI th grader at an ISC school in Navi Mumbai . She chose Commerce early on and has excelled in all the subjects so far. Post HSC , She would want to pursue an undergrad degree in Finance/Economics in a top university in India . The situation is that she being an USA citizen, we are not sure about the eligibility and intake criterion of Top Universities colleges for Foreign Citizens. can you help us understand the same .Will she have to take up CUET ,CET,NPAT and likes of same or would there be different qualification criteria, she being a foreign citizen . Hope I am able to articulate my question well . Thank you in advance .

Ans: Hello,

Firstly, thank you for contacting us. To answer your question, while the application process for foreign nationals may have slight variations compared to Indian students, your daughter should not face any issues when pursuing an undergraduate degree in finance or economics at top universities in India as many institutions have a well-defined process for international students. While she may still need to take entrance exams, the process is generally straightforward, and her excellent academic performance will put her in a great position. I’d recommend visiting the specific university websites to understand the details, but overall, she should be in a great position to pursue her goals in India.

Additionally, since she is already a US citizen, she might also consider pursuing her degree in the USA, where there are abundant opportunities in Finance and Economics, with no visa concerns to worry about.

For more information you can visit our website: edwiseinternational.com
You can also follow us on Instagram: @edwiseint
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Insurance, Stocks, MF, PF Expert - Answered on Mar 08, 2025

Asked by Anonymous - Mar 06, 2025Hindi
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Can I retire at age of 50 years? My savings are cash in Bank around Rs 2 Cr with nominal FD returns, Have Physical Gold about 3 Kg (Purchase price 1.8 Cr), Have Ornament Gold about 2.3 Kg (Purchase price 1.2 Cr), Have Unlisted NSE stock worth 1 Cr, Have Pre IPO Opportunities Fund worth Rs 80 Lakhs, Have two apartments worth 3 Cr and 1.5 Cr with combined rental of Rs 1Lakh per month, Have residential plot worth 1.5 Cr, Have one house abroad worth 6 Cr and rental 2 Lakhs per month, Have cash in Offshore Bank in dollars i.e. worth Rs 12 Cr with nominal FD returns, Have Insurance schemes worth Rs 20 Lakhs and Lastly have a house worth Rs 18 Cr in which we currently reside. Our Expenses : We have no Loans/Debts, Our Average Monthly Expenses are Rs 8 Lakhs, Health Insurance Rs 1.5 Lakhs per annum, Total College Education abroad for 2 kids for next 6 years estimated to be Rs 6 CR on an average 1CR per year, Old Aged Parents Expenses Rs 2 Lakhs per month.
Ans: Hello;

Just summarizing your assets available for generating retirement income:

1. Domestic FD: 2 Cr
2. Gold(3 Kg) valued at~:2.64 Cr
3. Jewellery valued at~:2 Cr
4. Flat1: 3 Cr
5. Flat2: 1.5 Cr
6. Land: 1.5 Cr
7. Overseas House: 6 Cr
8. Overseas FD: 12 Cr
9. Self occupied property: 18 Cr
10. Stock & AIF: 1.8 Cr
Total: 50.44 Cr
(Gold price considered: 88 K per 10 gm)
However we can subtract assets at serial no. 3, 7 and 9 from this and we get a corpus of 24.44 Cr. The 44 L may be kept aside for transaction costs, taxes etc.

It is advisable that you sell the flats in India offering low rental yield and also physical gold and the land property.

Now the corpus of 24 Cr may be split into two parts:
20 Cr may be invested in MFs for SWP at 5% yielding post tax income of around 7.3 L per month.

4 Cr may be used to buy immediate annuity from a life insurance company. Assuming 6% annuity rate you may expect a post tax monthly income of 1.4 L.

So your post tax monthly income may be:
7.3+1.4+2*=10.7 L as desired.
*Rental from overseas House

Since the kid's higher education is not finding place here I suggest you work for few more years, while putting this retirement income plan in place, for funding their higher education.

Best wishes;
X: @mars_invest

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