Top-up loans can help finance your studies abroad, but may not come cheap

Apart from the higher interest rate, they may also require you to offer additional collateral

The 13.2 per cent depreciation of the rupee against the dollar year-to-date has affected a large number of people who have expenses in foreign currency. 

Those who will be hit particularly hard include people who plan to send their children abroad for studies, and those whose wards are already studying overseas. 

While the rupee has depreciated 13.2 per cent against the US dollar, the exact level of change in costs will depend on the country in which the student is studying. 

Says Amit Gainda, Chief Executive Officer, Avanse Financial Services: “The  exact increase in cost will depend on the movement