Dreams Of Studying Abroad Appear Farther Away As Rupee Plunges To Record Low
NDTV
With rupee touching its new all time low every other day, study abroad aspirants in India fear their American university dream is getting farther
With the rupee touching its new all-time low every other day, study abroad aspirants in India fear their American university dream is getting farther as they will have to cough up more money or shift their choice of destination country where it is comparatively cheaper.
While financial institutions feel the concerns are genuine and the requirement for a higher amount of education loans will go up, study abroad consultants believe students have less to worry about, especially those who plan to work in the US post completion of their studies.
"As the rupee tumbles to a new record low against the US dollar, it ripples concerns far and wide among study abroad aspirants. The weakening of the Indian currency against the US dollar will deeply impact students' overseas education plans and add to the financial burden," Pushpender Kumar, who plans to study law in the United States, told PTI.
"For my other friends, a change in choice of a country can work, but for me, it cannot consider the long-term plans. Every country has a different legal system, requiring different knowledge to practice as a lawyer. I don't have the option. However, I feel the ultimate cost will further shoot up till I land there and ultimately graduate," he added.
