New Delhi: A weaker rupee and tightening of post-education work visa norms in major study destinations have intensified financial challenges for Indian students abroad.
In the past six months, the rupee depreciated by 5%, falling to Rs 87.2 per dollar from Rs 83.5 in August, increasing costs for students studying overseas. This depreciation adds Rs 5 lakh to a Rs 1 crore education budget, significantly affecting families funding international education.
Compounding the issue, countries like the UK and Canada have introduced stricter work visa requirements. The UK now mandates graduate-level jobs with salaries between £36,000-£40,000 for extended stays, while Canada has tightened student permit regulations.
“Earlier, students could repay loans quickly by earning in dollars. Now, repayment periods may increase due to higher costs,” said Ajay Bohora, co-founder of HDFC Credila.
Experts advise securing education loans early and prioritizing scholarships to reduce financial strain. Career counselors suggest students focus on emerging fields like GenAI, cybersecurity, and blockchain for better job prospects.
