In addition to the increased value of the yuan, encouraging Chinese that the time is right for the investment, the rise of the Chinese middle class also contributes to the trend of overseas study, said Xu Jing of the University of California, Los Angeles.

"Chinese parents are more than ever able to afford the higher education abroad," she said. "Compared with domestic education, which has long been criticized, Chinese parents obviously prefer to send their children abroad."

According to the Chinese Luxury Consumer White Paper issued in March by the Hurun report, nine out of every 10 Chinese whose assets exceed 100 million yuan ($16 million) plan to send their children abroad, and 85 percent of those with at least $1 million said they would send their children overseas for education. China's growing middle class also has aspirations to send their children abroad for education, according to the report.

Chinese parents will sacrifice almost everything they have for their children's education. Middle class families are more likely to spend their income on education than on leisure.

Despite all the shortcomings, American universities are seen by Chinese as emblems of the highest achievement, Xu said.

Wealthy Chinese parents believe the critical and quality-oriented teaching of a Western education works better than the Chinese schooling, which is sometimes rigid and mechanical, she said.

In addition, the friendly visa policy promotes the tendency, she said.

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