Chinese Overseas Students Face Funding Crisis

Key Points:

1. Chinese overseas students have been facing economic difficulty because of numerous factors.

2. The pandemic has impacted the funding for many international Chinese students. A subsiding Chinese economy and declining family wealth are making it harder to afford overseas education.

3. With the tuition fees at US and UK universities also constantly rising, international Chinese students find themselves financially burdened.

In the recent news about Chinese overseas students, it is observed that they are facing hard financial difficulties due to economic constraints. Many factors are leading to impacting China’s economic situation, directly affecting the students overseas. This also includes the lingering effects of the Covid-19 pandemic, which has slowed down China’s economic growth. All these factors together make it difficult for Chinese students overseas to afford higher education in countries like the UK and the US, especially since there is a constant rise in tuition fees.

The social media platforms used in China have been filled with issues related to funding for overseas students. Multiple hashtags such as #funding for overseas studies cut off are being used on Xiaohongshu (China’s alternative to Instagram) and have garnered a lot of attention. A 2023 survey by New Oriental Education and Kantar paints a concerning picture: 27% of students and parents planning postgraduate studies abroad reported that the pandemic has disrupted their funding plans. This is a significant rise compared to the 19% of students who said the same in 2021 and 2022.

Some of the students have experienced the worst hardships in the case of funding for overseas education. Xiao Zhang, a Chinese student in USA who is studying design at Alabama, had to take up a part-time job after her financial sources crumbled as her father faced losses in his investments in the pharma industry. Michael Bai, a sophomore studying Economic and Social History at the University of Glasgow, also had to take up multiple part-time jobs after his family business back home collapsed.

China has witnessed a sluggish post-pandemic recovery, and many families are feeling the brunt of it. The real estate slump, a significant contributor to China's economic output and household wealth, has hit families particularly hard. This is also difficult for those who primarily had successful establishments in certain sectors, like Bai’s family. Government crackdowns on developers aimed at reducing reliance on debt have triggered the slump, further jeopardising student funding.

Apart from complex situations back home, Chinese overseas students also have to worry about the rising tuition fees at popular UK and US universities. International students are a crucial source of income for these universities, so the fees are usually higher for them than for domestic students. A recent report highlights how university fees in the US have doubled in some cases compared to 20 years ago.

Despite these circumstances, international Chinese students have endured hardships and shown resilience by taking jobs and paying the bills on their own. Bai managed to overcome his financial crisis by starting a used car business with friends. Although, many students still struggle to manage jobs along with their higher studies making it difficult for them to survive in a foreign country. China’s economic situation has directly impacted their academic performance and well-being. With no immediate solution in sight for China's economic woes and rising tuition fees adding to the pressure, the dream of studying abroad may become increasingly out of reach for many.

TD;LR

Many Chinese overseas students are on the verge of giving up on their higher education dream because of current China’s economic situation. The COVID-19 pandemic, a dull economic recovery in China, and rising tuition fees are all contributing to financial difficulties for students overseas. Social media conversations and surveys highlight the increasing number of students who are struggling to make ends meet.  Some students are juggling studies with part-time jobs, while others have had to cut their education short due to a lack of funding. The situation is likely to continue as China grapples with its economic woes.