Further fall in rupee to hurt students taking loans to study abroad

The rupee has been depreciating sharply ever since tensions broke out between Russia and Ukraine in February

student loan

An IDBI Bank executive said the loan is given in rupees and is converted into dollars at prevailing rates based on student requirements

Subrata PandaAbhijit Lele Mumbai
While the Indian rupee has depreciated by around 5 per cent against the US dollar since the beginning of the year, experts reckon students who take out education loans to study abroad are cushioned from the currency volatility for the time being.  They, however, believe the students might feel the pinch if the rupee continues to depreciate further.

“With the rupee depreciating against the dollar, the costs for students going for education to the US is expected to go up. While sanctioning loans, there is usually headroom to take into account aspects like currency fluctuations and general rise in total cost

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First Published: Jun 16 2022 | 11:22 PM IST

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