British pound’s spike to burn a hole in the pockets of UK-bound students from India

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risen considerably against Indian rupee in the past few weeks, Indian students travelling to the UK for overseas education later this year stare at a tougher (er.. expensive) times ahead. With pound going upward from ₹100 per unit to ₹105 per unit in the recent past, the cost of foreign education of UK-bound students has undoubtedly seen a considerable jump.

Not only the tuition fee, but also the cost of living is set to increase for the Indian students geared to study in British colleges this year i.e., September 2024. Let us suppose, a student is set to join a university that charges £20,000 per year as fees from international student, s/he will end up incurring ₹21 lakh instead of ₹20 lakh when pound was ₹100 per unit a couple of months ago. Add to this the living expenses which have also proportionately risen in line with the exchange rate.

To be able to live in London, an international student is supposed to show the money to the tune of £12,006 for each year of stay. At the new exchange rate of ₹105, this amounts to ₹12.61 lakh against ₹12 lakh earlier. ALSO READ: UK visa fees hiked: Here's how much you will pay now for Student, Tourist visa It is vital to note that this money (Indian currency equivalent to £12,006) needs to be kept in an Indian bank account for a minimum of 28 days before one can apply for the visa under what is known as 28-day rule.

Those who intend to study in a university outside London need to show a relatively less money (i.e., £9,207 for first year of study). A slew of other expenses towards visa and air tickets amount to nearly £3,000. With increase in exchange rate, the cost comes to around ₹3.15 lakh when computed at the rate of ₹105, whereas it stood at ₹3 lakh when the exchange rate was