Inflation & Exchange Rate Effect On the Cost Of Education in the US

    Updated on: 25 Oct 2023 5 min read

    The cost of education in the US or for that matter any country abroad is directly affected by the currency exchange rates. There have been several instances in the past where a down sliding rupee has inflated the cost of education abroad. However, this time around the falling rupee against the dollar has become a major concern for students wanting to go to the US for higher education. Every year thousands of Indian students go to the US in search of quality education, multi-cultural environment, abundant employment opportunities and more. 

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    Options Amid the Rising Cost of Education in the US

    Of late there has been a trend that has worried the universities and other stakeholders in the US. An increasing trend among international students is to move to the UK, Canada, Australia, etc instead of going to the US. The US government is even considering some big reforms in terms of eased immigration policies, fast processing of green card applications, and other reforms.

    But in these times when the cost of education has increased so much, students can also consider the UK and Canada for similar prospects at a relatively lesser cost of education. It’s not like that as if there hasn’t been volatility in terms of the exchange rate of rupee to pound or Canadian Dollar but the overall impact doesn't seem to make much of a difference on the cost of education. These destinations can be an alternative to the US as even if there is an increase in the tuition cost, at least it will not be worsened by exchange rates. 

Picsart 08 15 07.42.27
Written by Anjaney Chaturvedi

Anjaney has in-depth knowledge of abroad colleges, and universities. With a background in Mechanical Engineering, he has a unique understanding of STEM courses. His interest also lies in finance and education financing. Firmly believes in ‘Being as unique as your fingerprint’.

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Reviewed by Aman Jain

Aman Jain graduated from IIT Kanpur, and currently functions as the CMO at GyanDhan. He is deeply passionate about creating equality in higher education and has directly interacted with 2 Lakh students in his 8-year-long journey.

Specializes in:
Education loan , Study Abroad Admissions

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