Paper Details

Name: Roni Jain Raju
Country: India

Year: 2025
Volume: Volume No: 12, Issue No: 2, Year: 2025
Page Number: 12-18
DOI: https://doi.org/10.5281/zenodo.20536831

ABSTRACT
With the increasing popularity of studying abroad, a large number of students require loans.
This research paper looks into the socio-economic determinants of the loan amount accessed
alongside the financial burdens faced during repayment. A sample of student migrants, 100 in
total, were surveyed, from which multiple regression analysis was carried out on ten socioeconomic variables. The study's socio-economic outcome measures reported no significant
association between the chosen socio-economic measures and the loan amount accessed. The
results indicate that even though educational loans serve as a major funding source, students
face financial hardships during their academic programs due to high interest rates, low
income, and post-graduation employment opportunities. A significant number of respondents
reported managing their monthly cash flow especially with loan repayments was challenging,
leading to significant financial stress that negatively impacted their academic performance.
While respondents demonstrated a basic understanding of debt management and repayment
options, access to formal financial counselling was limited, leaving students to devise their
own stress alleviating mechanisms. The study recommends these respondents were partnered
with employers, increasing access to part time jobs, improving overall employment
opportunities.
Keywords: International Student Migration, Educational Loans, Debt Management,
Socio-Economic Factors