The steep decline of the Indian rupee against the US dollar, UK pound sterling, and Euro has increased the cost of studying abroad by 20% for Indian students. This, along with visa restrictions by the US and Canada, and economic uncertainties in the UK due to the war on Iran, has resulted in fewer applications to foreign universities this year.
Drop in Applications
Typically, around 10,000 to 15,000 students from Tamil Nadu travel abroad for higher studies annually. However, education consultants report a 25-30% reduction in applications and queries this year.
"Considering the depreciation of the rupee, tuition fees in the UK have risen from about ₹15 lakh to ₹20 lakh. Living expenses have also increased by 20%. International flight fares have become more expensive due to the war. Consequently, many students have postponed their plans to study abroad," said R Sureshkumar, managing director of Truematics - Overseas Education Consultancy.
Visa Rejections and New Destinations
Srinivas Venkateswaran, director of Global Degrees in Chennai, noted that students aspiring to study in the US face high visa rejection rates due to immigration policies. He observed that students are now exploring alternative destinations such as France, Germany, Netherlands, Malaysia, South Korea, and Japan.
"Students are looking at alternative destinations. However, course preferences remain unchanged. Students continue to opt for computer-related courses including artificial intelligence, data science, and management programmes, similar to last year," he added.
Economic Challenges in the UK
"The job market in the UK has become tough due to the economic situation. Therefore, students prefer countries like Germany, France, Sweden, and Latvia for higher studies. But the cost of education has risen due to the rupee's fall. The value of one Euro has increased from ₹85 to ₹112," said R Manikandan, director of Meisters International Educational Advisory Private Limited.
Student Perspective
Nihil, a city college student, secured admission to an artificial intelligence and business analytics master's programme at Clermont School of Business in France. "While competition is very high for UK universities, there are more opportunities for foreign students in France and greater international exposure. The tuition fee is ₹15 lakh, which was within my budget," he said.
Although Australian universities offer top-quality education, stringent visa requirements deter many students, prompting them to consider other countries.
