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Students should be supported to study abroad against the falling rupee

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Support students against falling rupee
Majority of Indian students aspiring for a world-class higher education are facing a major drawback after the continuity of rupee's depreciation against American and British currencies.

This year, while the rupee has depreciated, around 20% students who opt to study abroad are left with fear and disappointment. Hence, experts felt that students must be supported to overcome the falling rupee.

However, those students who have already enrolled in institutions abroad will have little relief. Experts believe that, universities should do their best to help prospective students.

Ravi Lochan Singh, managing director of the Kolkata-based consultancy Global Reach, feels it had been "a very difficult last few months" for Indian students - just when American, British and Canadian universities have been gearing up for admission.

"It is time these institutions stepped in and helped out the [Indian] students who are about to reach their campuses," Singh said.

Scholarships or India-specific grants of up to 10% of the tuition fee should be offered to bridge the widening gap between planned and real costs.
"Universities should freeze their tuition fees for a few years. Universities do teach economics, and the first lesson relates to demand and supply and how the price is fixed. We should let that be applied here too," he added.

Last year Australia based restrictions on working hours for Indian students, particularly postgraduates, to help them cope with the impact of the depreciating rupee.

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