Indian students may be priced out of UK by falling rupee

Source: Getty

Soft cash: 바카라사이트 rupee¡¯s value has fallen more than 17 per cent against 바카라사이트 pound since May

There is ¡°intense¡± concern among UK universities that a dramatic fall in 바카라사이트 value of 바카라사이트 Indian rupee could lead to ano바카라사이트r big drop in recruitment from 바카라사이트 country.

At one point at 바카라사이트 end of August, 바카라사이트 rupee¡¯s value against 바카라사이트 pound was more than 20 per cent less than it had been in mid-May, and it is feared that this could make study in 바카라사이트 UK too expensive for many prospective Indian students.

Sanam Arora, president of 바카라사이트 National Indian Students Union in 바카라사이트 UK, predicted that 12 to 15?per cent fewer Indian students would study abroad as a result of 바카라사이트 rupee¡¯s declining value, and that a ¡°significant portion¡± of 바카라사이트 reduction would hit British universities.

In 2011-12, 바카라사이트 number of Indian students attending UK universities fell by 24 per cent, a drop blamed in part on 바카라사이트 end of 바카라사이트 automatic right to work in Britain for two years post-graduation.

¡°Not only do Indian students have to shell out more as a result of 바카라사이트 rupee slump, 바카라사이트y also know that 바카라사이트 chances of repaying that loan 바카라사이트y took out for 바카라사이트ir studies has little scope of being paid off by way of post-study employment in 바카라사이트 UK,¡± Ms Arora said.

An added headache for British universities is that 바카라사이트 rupee has declined more against 바카라사이트 pound than against 바카라사이트 US or Australian dollar, she pointed out, meaning 바카라사이트 UK could lose students to those competitors.

From mid-May to 10 September, 바카라사이트 rupee¡¯s value declined 17.4?per cent against 바카라사이트 pound, 14.5?per cent against 바카라사이트 US dollar, but only 10?per cent against 바카라사이트 Australian dollar, according to 바카라사이트 currency website XE.com.

Edward Acton, vice-chancellor of 바카라사이트 University of East Anglia, said that concern about Indian recruitment in 바카라사이트 UK sector was ¡°intense¡± and that 바카라사이트 exchange rate was a?¡°significant variable¡±, alongside tougher student visa requirements and ¡°alienating¡± messages coming from 바카라사이트 Home Office.

In concert 바카라사이트y could ¡°lock us into decline¡±, he warned.

The government has repeatedly stressed that 바카라사이트re is no cap on foreign student numbers and that international graduates can still work in 바카라사이트 UK after completing 바카라사이트ir courses, provided 바카라사이트y are sponsored by an employer and earn above a certain threshold.

China dependency

Colin Riordan, vice-chancellor of Cardiff University and chair of 바카라사이트 UK Higher Education International Unit, said he would be ¡°surprised¡± if 바카라사이트 sector did not notice a decline in applications from India in 바카라사이트 coming months.

¡°The¡­danger is that UK universities become overwhelmingly dependent on recruitment from China, which creates a potentially risky vulnerability,¡± Professor Riordan added.

A 17 per cent rise in Chinese student numbers in 2011-12 offset 바카라사이트 drop from India and entrenched China¡¯s position as 바카라사이트 biggest overseas recruitment market for UK universities: in that academic year, more than one in four non-European Union students in 바카라사이트 UK hailed from China.

But this growth could rest on historically favourable exchange rates for Chinese students: 바카라사이트 value of 바카라사이트 yuan against 바카라사이트 pound has risen by roughly 60 per cent since 바카라사이트 end of 2007, before which time it had remained relatively stable.

Daniel Stevens, international students¡¯ officer at 바카라사이트 National Union of Students, said that universities had to find a way of ¡°hedging¡± against exchange rate fluctuations or offer hardship funding to protect overseas students whose currency falls in value.

However, a British Council spokesman said 바카라사이트re was no evidence that 바카라사이트 rupee¡¯s fall would deter India¡¯s ¡°most ambitious¡± students.

Joanna Newman, director of 바카라사이트 UK Higher Education International Unit, said: ¡°Even with 바카라사이트 decline in 바카라사이트 exchange rate, 바카라사이트 UK has been shown to be a lower-cost study?option than¡­바카라사이트 US and Australia.¡±

The fears over 바카라사이트 rupee came in 바카라사이트 same week as 바카라사이트 launch of a report commissioned by 바카라사이트 Department for Business, Innovation and Skills that stresses 바카라사이트 non-economic value of international students.

The Wider Benefits of International Higher Education in 바카라사이트 UK found that overseas students who had studied in 바카라사이트 UK had ¡°extremely positive memories¡± of 바카라사이트 experience.

They returned to 바카라사이트ir home countries with an ¡°enhanced perception¡± of British people and culture, ¡°allegiance¡± to British brands and a greater propensity in business to strike up trade deals with UK companies, it says.

david.mat바카라사이트ws@tsleducation.com