Business
Studying Abroad Is Costly, But Not Impossible: Experts On Smarter Financial Planning
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Experts urge students to begin financial planning 18–24 months before studying abroad, factoring in all costs, buffers, and realistic job prospects.
From Fees To Living Costs: How Students Should Plan Finances For Studying Abroad In 2026
Getting a good education is becoming costlier, especially when it comes to higher education. For those students planning to study abroad, the cost of education increases manifold times, because of the associated costs of living, accommodation and food in a foreign, developed country.
Middle class students tend to dream of studying in a foreign institute, but the cost barrier makes him/her reconsidering it. However, proper financial planning and support will catapult the young ones to achieve their dreams of studying abroad.
Experts say students aiming to study abroad in 2026 should treat education as a long-term financial decision, not a last-minute expense.
Start early, think long term
From a personal finance point of view, planning should ideally begin 18–24 months before the intended intake, says Neeraj Saxena, MD & CEO of Auxilo Finserve. This window helps families realistically map the full cost of education, including tuition fees, visa and travel expenses, living costs, health insurance and emergency buffers.
Starting early also allows room to plan for post-study costs, such as living expenses during the job-search period. Saxena notes that early planning gives families time to build savings, compare funding options and secure better loan terms instead of rushing into costly decisions.
Rajesh Narayan Kachave, Chief Business Officer – Student Lending International Business, Avanse Financial Services, also adds that students should begin financial preparation well before application deadlines. Early planning helps align course selection, funding strategy and long-term career goals, especially as tuition and living costs have risen sharply across global destinations.
Calculate the real cost, not just fees
One common mistake is focusing only on tuition. Experts advise students to calculate the total cost for the entire course duration, not year by year. This includes education fees, accommodation, food, utilities, local travel, insurance, visa costs and one-time pre-departure expenses.
Saxena recommends keeping an extra 5–10 percent buffer to manage currency fluctuations and inflation. Kachave adds that destination-specific requirements, such as insurance or mandatory deposits, should also be factored in, along with a separate emergency fund for unexpected situations.
Avoid common money mistakes
Experts warn that chasing university rankings without understanding actual costs and job prospects can lead to long-term financial strain. Families often overestimate post-study salaries and underestimate how competitive global job markets have become.
To reduce risk, Saxena suggests aligning loan amounts with realistic salary expectations, choosing destinations with strong post-study work policies and keeping at least one semester’s expenses liquid. Kachave adds that relying fully on family savings or delaying documentation can create avoidable pressure.
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India’s budget focuses on infrastructure and defence spending and tax breaks for data-centre investments.
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New Income Tax Act 2025 to come into effect from April 1, key reliefs announced in Budget 2026
New Delhi: Finance Minister Nirmala Sitharaman on Sunday said that the Income Tax Act 2025 will come into effect from April 1, 2026, and the I-T forms have been redesigned such that ordinary citizens can comply without difficulty for ease of living.
The new measures include exemption on insurance interest awards, nil deduction certificates for small taxpayers, and extension of the ITR filing deadline for non-audit cases to August 31.
Individuals with ITR 1 and ITR 2 will continue to file I-T returns till July 31.
“In July 2024, I announced a comprehensive review of the Income Tax Act 1961. This was completed in record time, and the Income Tax Act 2025 will come into effect from April 1, 2026. The forms have been redesigned such that ordinary citizens can comply without difficulty, for) ease of living,” she said while presenting the Budget 2026-27
In a move that directly eases cash-flow pressure on individuals making overseas payments, the Union Budget announced lower tax collection at source across key categories.
“I propose to reduce the TCS rate on the sale of overseas tour programme packages from the current 5 per cent and 20 per cent to 2 per cent without any stipulation of amount. I propose to reduce the TCS rate for pursuing education and for medical purposes from 5 per cent to 2 per cent,” said Sitharaman.
She clarified withholding on services, adding that “supply of manpower services is proposed to be specifically brought within the ambit of payment contractors for the purpose of TDS to avoid ambiguity”.
“Thus, TDS on these services will be at the rate of either 1 per cent or 2 per cent only,” she mentioned during her Budget speech.
The Budget also proposes a tax holiday for foreign cloud companies using data centres in India till 2047.
Business
Budget 2026 Live Updates: TCS On Overseas Tour Packages Slashed To 2%; TDS On Education LRS Eased
Union Budget 2026 Live Updates: Union Budget 2026 Live Updates: Finance Minister Nirmala Sitharaman is presenting the Union Budget 2026-27 in Parliament, her record ninth budget speech. During her Budget Speech, the FM will detail budgetary allocations and revenue projections for the upcoming financial year 2026-27. Sitharaman is notably dressed in a Kanjeevaram Silk saree, a nod to the traditional weaving sector in poll-bound Tamil Nadu.
The budget comes at a time when there is geopolitical turmoil, economic volatility and trade war. Different sectors are looking to get some support with new measures and relaxations ahead of the budget, especially export-oriented industries, which have borne the brunt of the higher US tariffs being imposed last year by the Trump administration.
On January 29, 2026, Sitharaman tabled the Economic Survey 2025-26, a comprehensive snapshot of the country’s macro-economic situation, in Parliament, setting the stage for the budget and showing the government’s roadmap. The survey projected that India’s economy is expected to grow 6.8%-7.2% in FY27, underscoring resilience even as global economic uncertainty persists.
Budget 2026 Expectations
Expectations across key sectors are taking shape as stakeholders look to the Budget for support that sustains growth, strengthens jobs and eases financial pressures:
Taxpayers & Households: Many taxpayers want practical improvements to the income tax structure that preserve simplicity while supporting long-term financial planning — including broader deductions for home loan interest and diversified retirement savings options.
New Tax Regime vs Old Tax Regime | New Income Tax Rules | Income Tax 2026
Businesses & Industry: With industrial output and investment showing resilience, firms are looking for policies that bolster capital formation, ease compliance, and expand infrastructure spending — especially in manufacturing and technology-driven sectors that promise jobs and exports.
Startups & Innovation: The startup ecosystem expects incentives around employee stock options and capital access, along with regulatory tweaks that encourage risk capital and talent retention without increasing compliance burdens.
Also See: Stock Market Updates Today
The Budget speech will be broadcast live here and on all other news channels. You can also catch all the updates about Budget 2026 on News18.com. News18 will provide detailed live blog updates on the Budget speech, and political, industry, and market reactions.
We are providing a full, detailed coverage of the union budget 2026 here, with a lot of insights, experts’ views and analyses. Stay tuned with us to get latest updates.
Also Read: Budget 2026 Live Streaming
Here are the Live Updates of Union Budget 2026:
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