The recent fall in the value of the Indian rupee has significantly impacted students’ plans to study abroad
“With the cost of education and living expenses on the rise, it is becoming increasingly difficult for students to afford a quality education”
The rupee has been on a downward spiral for the past few months and hit a new low against the US dollar last week. This has caused many students and parents to rethink their plans for studying abroad, writes Prajwal Ikhar, co-founder of EduCred India.
The cost of studying in the US has always been high, but the rupee’s recent depreciation has become even more expensive. Besides the US, the cost of studying in countries like the United Kingdom, Australia, and Canada has increased by at least 10% in the last few months. But for students planning to study in the US, the pain is too much as they are now facing a 20-30% increase in the cost of their education. This is a major deterrent for students who have plans to study abroad.