Inflation makes US education a faraway dream for many Indian students

In just one year, the rupee has lost 6.16 percent of its value against the US dollar. This means that, compared to previous year, an extra INR 6,575 for each INR 100,000 will be spent on US education.

Inflation makes US education a faraway dream for many Indian students
Photo by Kenny Eliason / Unsplash

Due to the steep decrease in the value of the rupee against the US dollar, students who are now studying abroad in the USA or those who want to do so in the near future may need to prepare themselves for increased tuition fees and cost of living in dollar terms as well as higher costs in rupee terms.

The rupee has fallen significantly in value when compared to the US currency. On June 14, 2021, US $1 was worth INR 73.12 as of June 14, 2022. Currently, it is worth INR 78.0015.