The rupee’s bloodbath at 60 is bad news for those going abroad to study. This means, on conversion, the rupee will give you fewer dollars, in turn pushing up total cost of your education. This is prompting many students to either drop their plans to study abroad or to look for alternative funds, like scholarships, notes a report in the Times of India today.
According to the report, cost of overseas education has increased 15 -20 percent–in rupee terms about Rs 4 lakh–due to the rupee’s fall. This means, for many their foreign education budget has gone for a toss. But thankfully, foundations that give out scholarships have actually been sensitive to students’ needs and increased the funding by as much as 33 percent or Rs 1 lakh.
Usually, trusts give out scholarships which cover various expenses, right from tuition fees, to travel grants, living expenses and the like. Thankfully, though the rupee has depreciated the number of scholarships have not decreased.
Read the full Times of India report here.