When choosing a university degree, and where to study it, one of the fundamental variables to take into account is the economic factor. It is necessary to evaluate not only the investment that will be made to pay for the 4 or 5 years of a university degree but also the income that will be obtained by practicing their profession, and the time it will take to recover the money invested in studies.
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According to figures from the consulting firm GSG Education, a Colombian graduate abroad can recover in just 1 year and a half the total investment in education, unlike a graduate in the country, who would need 2 and a half years on average.
Mirko Chiappe, general manager of GSG Education assures that the value of the investment in a foreign university is double, compared to a national institution, approaching 71 thousand dollars during the entire period of study; and the time in which this money can be recovered is 1 year and a half, receiving an average income of 54,500 dollars per year, equivalent to 200,000,000 million in Colombian pesos“This, because the average income of graduates from a university abroad can be almost 3 times the local income,” explains the expert.
The National System of Information on Higher Education (SNIES), ensures that in 2020 more than 1 million people enrolled in a higher education entity in Colombia to pursue undergraduate studies; of which 42,100 did so supported by loans granted by the governmentamounts that can be recovered in an average of 2.3 years to pay the debt, without taking into account interest or external charges, according to the consultant.