Overseas- bound students, travellers feel the pinch

With the rupee weakening, the anxiety of many potential students who aim to study overseas is increasing. The cost of tuition, accommodation and daily necessities by itself can burn a deep hole in the pockets, and yet its appeal has not lost its sheen.

On average, per semester an Indian student shells out nearly ` 6 lakhs only for semester fees. A masters degree requires students to completed a total of 32 credits which amounts up to a staggering, ` 22 lakhs, sans the living cost. The fluctuating dollar cost only makes life harder as the rupee rate is falling. Every dollar is our 69 plus, making each dollar a crude sum.

Nihanth Reddy, a masters student at Purdue University states, “When the time comes to pay my fees, and the rupee value has fallen, it creates a deep cut in my total expenses set out for my education. Estimations of how much expenditures may be is constantly shifting, my parents are thus, left to bear the extra unwarranted cost, not earlier expected.”

Plus, after an expensive education, the scarcity in jobs is another burden, as repayment of loans becomes burdensome.

However, some students have the relief of securing a good paying job. The other advantage to the fall in rupee, is sending money back to repay loans or to reinstate one’s family coffers.

Deeksha Cauvery, a Cyber Security analyst in the US said, “I earn in dollars now, so when the rupee falls, it means I can send more money than expected back home and not feel the cringe.”

Meanwhile, the travel industry may see a rise as foreigners look to take advantage of the dip. While, India offers an mix of culture, scenic places and culinary delights, the lower pinch to pocket is always a plus.