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Rupee Slump: Study Abroad Dreams Face Financial Shock
5 Dec
Summary
- Indian rupee hit historic low against the US dollar.
- Students face higher costs for overseas education and loan repayments.
- Global employment squeeze forces graduates back to India.
The Indian rupee's recent drop to an all-time low against the US dollar is forcing a major reassessment of funding for Indian students planning to study overseas. With the rupee's value declining, the cost of international education and the burden of repaying dollar-denominated loans have escalated significantly.
This financial strain is particularly acute for students who have recently graduated and returned to India without securing employment abroad. They now face the prospect of repaying loans that have become substantially more expensive than initially budgeted. This situation impacts students at various stages of their educational journey, from initial applications to ongoing loan repayments.
The current scenario adds complexity to the upcoming spring intake, following a period where US visa scrutiny had already led some students to defer their plans or seek alternatives like the UK, Canada, or Australia. While a weaker rupee can benefit those already earning abroad, it poses considerable risk for students returning without employment.
