Currency fluctuations blight Indian students
Indian students are finding it harder to stump up enough cash to secure a place on a course at an Australian university.
A lot of Asian academics head down under in order to take a degree, as Australia has a great reputation for providing top class further education.
Upping sticks and moving is not a cheap business though and Indian youngsters soon find that their student bank accounts can take a hammering.
The situation has been made even more difficult because of the declining value of the rupee when compared with the dollar.
In fact, the Indian currency has declined by as much as 20 per cent against the dollar since the start of 2012, which means a lot of foreign students are being priced out of starting a new life in Australia.
Neha Racch – senior counsellor at Apex Consultants – said the extra expense has turned overseas education into a distinctly luxury affair.
Have a question about student banking? Ask the money gurus at Mozo Answers.