Will the Weakening Rupee Ground Indian Students’ Dreams of Studying Abroad?

Studying abroad, especially in the US, is increasingly expensive due to rising tuition costs and the depreciating Indian Rupee (INR). Over the past five years, the USD/INR exchange rate has worsened, increasing education loan costs by 3-5% annually. The Union Budget 2024 also introduces a Tax Collection at Source (TCS) on foreign education expenses, adding to financial challenges.

​Studying abroad, especially in the US, is increasingly expensive due to rising tuition costs and the depreciating Indian Rupee (INR). Over the past five years, the USD/INR exchange rate has worsened, increasing education loan costs by 3-5% annually. The Union Budget 2024 also introduces a Tax Collection at Source (TCS) on foreign education expenses, adding to financial challenges. Studying abroad, especially in the US, is increasingly expensive due to rising tuition costs and the depreciating Indian Rupee (INR). Over the past five years, the USD/INR exchange rate has worsened, increasing education loan costs by 3-5% annually. The Union Budget 2024 also introduces a Tax Collection at Source (TCS) on foreign education expenses, adding to financial challenges.