Thursday, February 13th, 2025

Students doing MBBS from abroad are worried, falling rupee is causing huge ‘loss’, they are doing top up on education loan.

Study Abroad News: The Indian rupee is continuously falling against the US dollar, due to which the difficulties of Indian students studying abroad have increased. Students and parents are fed up with education becoming increasingly expensive. The biggest impact is on those Indian students who have gone to countries like Russia and Uzbekistan for medical studies or say MBBS. Medical fees for Indians in these countries have increased by more than 20 percent.
Taking a loan to study abroad has become common, but after the fall of the rupee, those taking education loans are having to top up it from the bank. Talking to local media, a parent resident of Gorakhpur said that the conversion price of dollar in 2019 was Rs 71.40, which is currently Rs 85.79. Due to this, the expenses of his/her son, who is studying medicine in Uzbekistan, have increased by Rs 1 lakh annually. Similar is the condition of many other parents.

Cost of education is increasing every year

The father of Hasman Arkam, who is studying medicine from Kuruk State Medical University, Russia, said that there has been no change in the fees during the admission in 2021 and at present, but due to the falling rupee, 80 to 90 thousand rupees have to be paid every year. Have to pay extra fees of Rs. Indian students have taken loans worth crores of rupees to study abroad, but the rupee is falling and hence they have to top up to cover their expenses.

Problems increasing due to falling rupee

A parent of a student studying MBBS from the Medical Institute of Ukraine told that the Russia-Ukraine war started in 2022. After this his/her son got transferred to Tashkent Medical Academy in Uzbekistan. he/she said that in 2019, the annual cost of medical education and accommodation was around $7,000, which remains more or less the same even today. But in 2019, the value of $7,000 was Rs 4,99,800, which has now increased to Rs 5,96,820.

The father of the student, who is pursuing a master’s degree in computer science from Seattle University of America, said that his/her son took admission two years ago. At that time the fees was 45 thousand dollars and a loan of Rs 44 lakh was taken for studies, but now due to the strengthening of the dollar, the cost of studies has reached Rs 52 lakh. For this reason, I have applied for a topup of Rs 8 lakh in the bank. Similar is the condition of almost every student and parent who is studying abroad or their child is studying.

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