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Indian Students Studying in the US Increased by 35% in the Most Recent Academic Year
MIDDLETOWN, Ohio, Feb. 27, 2024 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of higher education for domestic and international students in the US, Canada and the UK, today announced that on February 23, 2024, Davis University received approval from the Higher Learning Commission ("HLC") to offer two STEM degree programs, an Associate of Applied Science in Data Science and an Associate of Applied Science in Computer Engineering. These two programs are expected to lead to a substantial increase in revenue from tuition and service fees for this fiscal year. The Company expects the number of students recruited from China will be at least doubled, and students from India will constitute a significant revenue stream for the Company.
EpicQuest Education plans to target recruiting from India as the US remains the top choice for Indian students pursuing higher education abroad. According to the US Embassy and Consulates in India, the number of Indian students who travelled to the US for higher education increased by 35% and resulted in an all-time high of approximately 270,000 students for the 2022-2023 academic year. In addition, the Optional Training Program (OPT) grants students up to three years of temporary employment authorization in the US which allows highly skilled international students to gain work experience and contribute to the US economy.
"We are pleased with the HLC approvals of our technology programs as it reinforces our academic programming that prepares our students for their professional careers. It further highlights our mission to provide innovative practical training that aligns with the demands of the current economy that results in good jobs and career advancement," commented Diane Brunner, President of Davis University. "In addition, we anticipate strong demand coming from India in terms of the three-year Optional Practical Training program for international students who have F-1 immigration status."
EpicQuest Education's Recruiting Office in Sri Lanka
EpicQuest Education recently opened a recruiting office in Sri Lanka to serve as its main hub to attract students from Southeast Asia and the Middle East to expand its geographical market for international student recruiting. The Company believes that India, in particular, represents a huge recruiting market which will be attractive for Davis University's degree programs in technology, including its two new STEM degree programs. The Company believes that its practical training program in STEM coursework will allow students from India who can access OPT to gain valuable work experience in the US which can build a strong foundation for a wide array of careers.
HLC's Previous Approval of Davis University's Online Programs
Previously, the Higher Learning Commission (HLC) approved Davis University in September 2023 for all of its education courses and programs that are offered online. HLC indicated that since Davis has met the threshold requirement for online education, that it does not need to seek further online education approvals from the HLC. The HLC is an independent corporation that is one of seven regional accreditors in the US that accredits degree-granting post-secondary educational institutions.
Posted In: EEIQ
