A recent survey shows that many wealthy Indian parents are ready to make significant financial sacrifices to give their children an international education.

The survey, which included 1,456 affluent individuals in India, found that 78% of parents either have a child studying abroad or plan to send their child overseas for education.

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Of those planning to send their children abroad, 91% said they would pay for their education, with the most popular countries being the United States, the United Kingdom, and Canada.

However, only 53% of these parents have a savings plan specifically for education, which creates a financial gap.

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The costs of studying abroad are quite high. On average, affluent Indian families expect to spend around $62,364 (about Rs 52.4 lakh) on their child's education.

For a typical three-year degree, this would use up 48% of their retirement savings, and a four-year degree could take up to 64%, raising concerns about their long-term financial security.

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When it comes to their financial goals, the survey revealed that parents are focused on several priorities: supporting their family (45%), building wealth for security (41%), investing in property (40%), saving for education (40%), and planning for retirement (38%).

To manage the costs of education, many parents are considering selling their assets, while about 40% expect their children to take out student loans and 51% are hoping for scholarships.