As both currency fluctuations and visa policy changes add to the uncertainty, Indian students aspiring to study in the UK must carefully consider the financial implications and stay informed about the latest developments
Indian students planning to study in the UK this year face significant financial challenges as the British pound nears a one-year high. With the pound currently valued at ₹110.95, up from ₹105 at the start of 2024, the currency’s upward trend could increase the cost of studying abroad by a considerable margin.
In 2024, the pound fluctuated between ₹100 and ₹105 for the first six months, before climbing to ₹108 in July. Recent weeks have seen the pound trading steadily between ₹110 and ₹111.
For Indian students, even a small fluctuation in the currency rate can lead to a substantial increase in expenses. For instance, a £1 increase in the pound’s value results in an additional ₹5, raising the cost of education by approximately ₹1.6 lakh for the year.
This potential policy shift may further discourage students from pursuing higher education in the UK, especially if their post-graduation employment prospects become uncertain
A typical British university charges about £20,000 for a one-year course, while annual living expenses are estimated at around £12,000, bringing the total to £32,000. At the current exchange rate of ₹111, this equates to approximately ₹35.52 lakh. For students enrolling in premium universities, which often charge an additional £10,000, the total cost rises to ₹46.62 lakh. If the pound were valued lower, say at ₹105 or ₹100, the costs would decrease to ₹44.10 lakh and ₹42 lakh, respectively.
This significant difference highlights how currency fluctuations can affect the financial burden on international students.
The financial strain is becoming a deterrent for many. Recent data from the UK’s Home Office reveals a 23% drop in Indian students opting for UK universities in 2024 compared to the previous year, with around 21,000 fewer master’s degree applicants.
Compounding these challenges are potential changes in UK visa regulations. The Keir Starmer-led government is reportedly considering measures to limit overseas hiring by sectors such as information technology, telecom, and engineering. Such changes could affect many Indian professionals, who are among the top applicants for UK work visas.
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