By Admin 
The rupee is continuously weakening and now one dollar has reached around Rs 90. This decline has increased the concerns of Indian students and their families studying abroad. The cost of education abroad was already quite high, but the weakness of the rupee has pushed these expenses further higher.
In the last eight-nine months, the rupee slipped from around Rs 84 per dollar to Rs 90. This decline has had a direct impact on the pockets of those students who are studying in America, Britain, Canada, Australia and European countries. There college fees, accommodation, rent, travel expenses and insurance, everything has to be paid in dollars, pounds, euros or other foreign currencies. These expenses automatically increase due to the weakness of the rupee.
The number of students going abroad is still large
According to Bureau of Immigration data, 7.6 lakh Indian students went abroad for higher education in 2024. This number is less than 8.9 lakh in 2023, but still shows that the demand from Indian families to study abroad remains strong. Five years ago, i.e. in 2020, this number was only 2.6 lakh. It will reach 4.5 lakh in 2021, 7.5 lakh in 2022 and around 9 lakh in 2023.
Students’ expenses suddenly increased
According to media reports, every new semester has become a new challenge for the students who are already studying. Many students say that the monthly expenses have increased by Rs 20-30 thousand. The total annual expenditure has to be paid an additional Rs 2-3 lakh. Food, rent and travel expenses have increased the most. Fees in dollars and pounds automatically become expensive as the rupee falls.
Some students get support from part-time jobs
Many students describe the first six months as the most difficult. They have to adapt to the new environment and expenses also keep increasing. Many families say that along with studies, children also do part-time jobs so that they can manage some part of the expenses themselves.
Pressure on family budget too
Families in India count every rupee and send money for their child’s education. Household expenses, loan installments, and children’s foreign education put together have created a huge financial burden. A young man wrote on social media that the annual fee of $50,000, which was earlier Rs 41.5 lakh, has now become around Rs 44.7 lakh. Due to the fall of rupee alone, there is an additional burden of Rs 3 lakh annually.
Some students are thinking of changing country
Many students say that if the rupee continues to fall, they may consider other countries for their studies where the cost is lower. A student who is preparing to do her master’s in America said that now we have to decide what we can afford. Our destination may have to be changed.
Visa and processing fees also expensive
Immigration consultants have reported that visa fees and other processing charges have also increased by about 4%. The average fees of American colleges is also increasing by Rs 2-3 lakh every year.
Also read – UPPCS has announced recruitment for the post of Polytechnic Lecturer, you will be shocked to hear the salary.
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