The relentless decline of the Indian rupee against the US dollar, now hovering around the 90 mark, is imposing a severe financial burden on thousands of Indian students pursuing education overseas and their families supporting them from home. The currency's weakness has directly translated into a significant surge in the cost of global education, squeezing budgets and forcing difficult financial recalculations.
The Steady Slide and Its Direct Impact
Over the past eight months, the rupee has weakened considerably, moving from approximately 84 to 90.12 against the US dollar. This depreciation has made every international financial transaction more expensive. For students in countries like the United States, essential expenses including university tuition, accommodation rent, grocery bills, and even loan repayments have become substantially costlier overnight. Students report that their monthly living costs could increase by nearly Rs 20,000, while overall tuition fees for a course may now swell by an additional few lakhs of rupees.
Those enrolled in long-duration programs feel the pinch most acutely, as they must absorb this currency-driven inflation semester after semester. Each dip in the rupee's value acts like an unofficial surcharge on their education. The scale of this issue is vast. Data from the Bureau of Immigration reveals that 7.6 lakh Indian students went abroad for higher studies in 2024. While this marks a drop from the 8.9 lakh recorded in 2023, it underscores the sustained, strong demand for overseas education. Over the last five years, the number of outbound students has seen sharp growth, rising from 2.6 lakh in 2020 to 4.5 lakh in 2021, 7.5 lakh in 2022, and nearly 9 lakh in 2023.
Families Feel the Strain, Budgets Are Recalibrated
A significant portion of expenses for students abroad is funded through family savings, scholarships, or education loans, placing immense pressure on parents in India. Sanjay Malhotra, whose daughter studies at Arlington University in Texas, shared his experience of constantly having to adjust his financial plans. "The first six months are always the hardest for parents. Once students start part-time jobs, things ease out a bit," he noted.
He provided a stark breakdown of the rising costs: "Her monthly expenses were around Rs 1.25 lakh. The real hit comes with the semester fees. The first semester fee was Rs 14.5 lakh two years ago. After fluctuations, it is now Rs 16 lakh. That's Rs 1.5 lakh more than what we had planned. If one dollar is Rs 90, the actual cost becomes around Rs 93 with taxes. It's a huge burden."
This sentiment is echoed by Devansh, whose brother is at the University of Illinois, Urbana-Champaign. He estimates the family will need to send an extra Rs 3-4 lakh annually. "Sending a child to the US is already a significant financial commitment. Percentage-wise, this may not be a make-or-break situation, but there will still be an impact," he said.
A Widespread Challenge Beyond the US
While Indian students in the US are among the most affected, the financial pressure is not confined to one country. Students in the United Kingdom, Canada, Australia, and Europe face similar strains, as their local expenses are often tied to currencies that move in correlation with the US dollar.
Abhishek, a student at Concordia University, mentioned his monthly spending could jump from about Rs 1.4 lakh to nearly Rs 1.6 lakh, covering rent, health insurance, and groceries. Harshita, studying at Deakin University in Australia, highlighted how even modest budgets are impacted. "My monthly expenses of nearly Rs 60,000 may now go up to a lakh. My semester fee is about 15,000 Australian dollars. That's likely to increase too," she explained, adding that a friend solely dependent on parental support is equally stressed.
The frustration has spilled onto social media platforms. One user on X (formerly Twitter) pointed out the severe impact: "A $50,000 annual fee that cost Rs 41.5 lakh a year ago now costs nearly Rs 44.7 lakh — an extra burden of over Rs 3 lakh per annum." For prospective students like Vanya, who is preparing for a master's degree abroad, the rupee's depreciation could fundamentally alter her plans. "Now the destination will depend on what we can afford once I clear my exams," she stated.
Immigration consultant Harpreet Singh highlighted how quickly ancillary costs have escalated. "In August, the visa processing fee in rupees was around Rs 16,000. That alone is estimated to grow by at least 4%. Similarly, the average annual tuition fee for a US college was about Rs 34 lakh in August, and that may now rise by a minimum of Rs 2 lakh," he said.
For countless Indian families, the falling rupee means making tighter budgets and sacrifices at home to ensure their child's educational dreams abroad remain on track. The situation presents a complex challenge at the intersection of global economics and personal aspiration.
