Falling rupee, restricted loans scupper study abroad

By Alya Mishra. For thousands of Indian students aspiring to a world-class higher education, the rupee’s continuing depreciation against American and British currencies has been a major setback. Some may have to postpone their studies for a year, while others are desperately seeking additional loans to cover the shortfall. The rupee has depreciated by around 20% against the United States dollar this year alone.
Mallika Ghosh, who secured admission to a leading British university, has requested a deferment. “With the rupee’s depreciation my costs have gone up 20%,” she said. “I hope that by the next term the rupee will have stabilised and regained.”
She added that it was already a struggle to scrape together £12,000 (US$18,700) for tuition fees and another £8,000 (US$12,500) for living expenses. More...