Study Abroad News & Alerts

Will the rupee fall affect the study abroad situation?

posted on: July 30, 2022

Recently the rupee hit an all-time low rate against the dollar by hitting the 80 figure for the first time ever. Since the beginning of 2022, the rupee has depreciated by 7% against the US Dollar. The craze for studying outside the country despite all these complexities remains the same. The hope for a better future is the main driving force behind so many students migrating abroad. After the pandemic, the number of students going abroad doubled. This is because taking an education loan has become much easier, visa processes are less complicated and the ROI on the education is great as students get high-paying jobs afterward. The US is still the most popular destination among students for studying abroad with 60% of the students wanting to study there. Rupee fall is beneficial for students who are studying already in the US as they will have to pay back in an appreciated currency. The movement of students is likely to remain oblivious to the fall in currency very much similar to it has remained over the years.

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