The initiative targets Indian students enrolling at leading partner universities in the UK, Ireland, Australia, the US, and Canada.

The INR 2 crore scholarship fund will be allocated across more than 50 university partners of Acumen and University Living. According to a joint statement, the program aims to ease the financial burden of securing housing abroad, allowing students to focus on their academic journey without added stress.

"Studying abroad can be overwhelming, especially during the initial months," said Sagar Bahadur, Executive Director - South and Southeast Asia at Acumen. "With this groundbreaking partnership, we're not just helping students find a place to stay; we're offering them peace of mind and the confidence they need to thrive academically and socially from day one."

With accommodation costs on the rise, securing affordable housing has become a growing concern for Indian students pursuing education overseas

University Living's Indian Student Mobility Report 2024 highlights a sharp increase in student housing expenses across key study-abroad destinations.

Between 2019 and 2022, accommodation spending rose from $1.9 billion to $2.4 billion in the US, from $1.7 billion to $1.8 billion in Canada, and from $0.8 billion to $1.2 billion in Australia. The UK witnessed the most dramatic surge, with student housing costs jumping from $0.4 billion to $1.4 billion.

To help ease this growing financial pressure, the Living Scholarship will be available starting March 2025. It is designed to support Indian students as they adapt to life in a new country by offering much-needed financial relief.

"This is our way of helping universities alleviate the financial burden for their prospective students and ensure a smoother transition abroad," said Saurabh Arora, CEO of University Living.

In addition to this initiative, University Living has recently partnered with NISAU to launch a £12,000 (INR 13,10,832) scholarship program. As reported by The PIE News, this scholarship will be awarded to 10 exceptional Indian students pursuing higher education in the UK.

Source: PIE NEWS