A study abroad consultancy platform is a company, usually with an app and a team of counsellors, that helps an Indian student go abroad to study. It prepares the student for the English test, applies to universities and arranges the education loan. India is one of the largest sources of international students in the world. Most go to Canada, the United States, the United Kingdom, Australia or Germany.
A student going abroad needs three things. The first is an English test score, such as IELTS or TOEFL, which universities ask for from students whose first language is not English. Some courses also need the GRE or GMAT, which students prepare for on a test prep platform. The second is an admission. The student must choose courses, write a statement of purpose, the essay that explains why they want the course, and apply before each deadline. The third is money for the tuition fees and living costs: a scholarship, family savings or an education loan.
Say a civil engineering graduate in Vadodara wants a master's degree in construction management. A counsellor reviews his marks, his IELTS practice score and his family's budget of about ₹35 lakh. The platform suggests 8 universities in Britain and Canada, in three groups: ambitious, likely and safe. He takes the platform's online IELTS classes and scores 7.0. The counsellor checks his statement of purpose, and the platform sends 6 applications. He receives 4 offers and accepts one from a university in Manchester. The platform then arranges a loan of ₹30 lakh from a lender. It helps him pay the tuition deposit in pounds through an international education payment service, and helps him prepare his visa documents.
Who pays the platform? Mostly not the student. Many universities abroad pay a commission for each student who enrols, often a percentage of the first year's tuition fee. Lenders pay a fee for each loan that a student takes. The student pays only for some services, such as the test classes. This is why these platforms can offer counselling for free. A business that brings two sides together and earns from them is a kind of marketplace.
This model has a risk. A counsellor whose company is paid by universities may recommend the universities that pay the highest commission. A student should ask which universities pay the platform, and compare courses independently.
Inside the platform, a scholarship search platform matches each student with the scholarships and loans they qualify for.
How is it different from international student recruitment? Recruitment companies are hired and paid by universities to find students for them. A study abroad platform starts from the student's side, and it covers every step, including the English test and the loan.