Mumbai: The depreciating rupee has been giving nightmares to not only the businessmen but to students also, especially those who are hoping to study abroad.
For Pune's Pranaav Jadhav, a second year communications student in the US, the rupee's downfall has been a terrible blow. The higher exchange rates mean he has to shell out an additional Rs 50,000 per semester as his tuition fee.
Living expenses have also risen by at least Rs 10000 a month.
Shaillejaa Jadhav, Pranaav's mother, said, "One thing is very much worrying is that the banks, well most of the nationalised banks. They have a policy of maximum limit of loans is Rs 20 lakh. They don't give above Rs 20 lakh for students studying abroad... you know... education loans for students studying abroad. Now this is quite a small amount as compared to the fees that we are paying abroad, in the US especially."...more
09:59 AM, May 21, 2012