Foreign universities attract Indian students despite of fall in rupee
The steady depreciation of rupee seems to have zero impact on Indian students who wish to study abroad. As the years roll by, many colleges around the globe have reported increasing number of applicants despite the devaluation of the rupee.
Take the University of Pennsylvania for instance, which received 465 applications from Indian students in 2011. This is a record breaking number in the University's history.
The perceived benefits of a foreign degree or qualification is so much so high that the Indian students are not disturbed by the terrible visa regulations or rupee depreciation even if it means spending some lakhs to obtain a degree.
With increasing competition in the Indian Universities, many students are willing to aspire for abroad universities as the next best alternative.
In 2011 many Indian Universities reached the 100% cut-off mark for many undergraduate courses. This has led to a increase in students applying for universities from other side of the globe.
Cambridge University in UK registered a 7% increase in the total number of Indian applicants applying for the undergraduate courses over the past five years.
The education loan demand for foreign universities has also been increasing with every passing year reaching 18-20% increase. Experts predict that the growth rate would remain the same for this year as well.
Clearly, the rupee depreciation has no effect on the Indian students who are willing to study abroad. The potential return that the foreign education gives is the biggest reason for students applying to foreign varsities.
Source: Economic Times
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