Foreign-bound for travel or studies? Get set to shell out as rupee falls

Sudha Pai, whose daughter is a second-year computer engineering student at Oklahoma University, has been distressed with the sharp fall in the rupee in the past year. “The decline has dealt a heavy blow to parents as the cost of educating a child has gone up by 10 per cent since last year. Parents, who have taken education loans are facing the brunt more expensive foreign exchange,” said Pai.

With the rupee slipping to nearly Rs70 per dollar on Tuesday, most parents with children in the US will feel the pinch. Tuition costs are up between seven and nine per