Indian students heading to the UK face a tough road as the pound hovers around its highest level in a year

With the British pound Tuition fees are rising rapidly and are in a race to reach last year’s high, so Indian students heading to the UK are likely to face a tough road this year.

One pound sterling is now worth ₹110.95, thus approaching its highest level in a year, reported Reuters.

When the year 2024 began, one pound was worth ₹105 per unit, and in the first six months, fluctuated between 100 and 105 Before hitting ₹108 in July (Source: XE.com).

Over the past month, the British pound has been steadily rising and reaching new highs every other day or week. Over the past few days, it has been trading in the range of ₹110-111 the unit.

For every pound unit, an increase of ₹5 makes a substantial difference when calculating the total cost of education for one year. An average British University He charges £20,000 for a one-year course. And if you factor in his living expenses for the whole year, which amount to £12,000, the total cost comes to £32,000.

And when you take into account a jump of ₹5 for each pound unit, the total cost amounts to ₹1.6 lakh. This means that studying in the UK is going to cost extra. ₹1.6 lakh only due to currency price fluctuation (i.e. GBP-INR).

Here’s how a small fluctuation in the price of a currency can burn a hole in the pocket of Indian students studying in the UK this year.

Here we take three options: the pound is valued at ₹111, 105 and 110.

Option I:The pound is valued at ₹111: When the pound is valued at ₹111, the total cost of a regular course at a British university for one year is ₹35.52 lakh. At a premium university, this cost will be higher by another 10,000 pounds, further increasing the financial burden. ₹11.10 lakh. The total cost then becomes ₹46.62 lakhs.

Option II: The pound is valued at ₹105: When the pound is valued at ₹105, the total cost amounts to ₹33.6 lakh. At a top university, the cost is an additional 10,000 pounds, which increases the financial burden. ₹10.5 lakh. The total cost, therefore, becomes ₹44.10 lakhs.

Option III: The pound is valued at 100: When the pound is valued at ₹100, the total cost is ₹32 lakh. At a premium university, the cost will increase by an additional 10,000 pounds, adding to the financial burden. ₹10 lakh. The total cost, therefore, touches ₹42 lakhs.

It is worth noting that Indian students opting for UK As their higher education fortunes have begun to decline, around 21,000 less Master’s applicants in 2024 than the previous year, and there is a 23 percent drop in Indian students coming to the UK for higher education, Home Office data reveals up to June 2024.

In another development, the government led by Prime Minister Keir Starmer in the United Kingdom is seeking curbing foreign recruitment by information technology, telecommunications and engineering companies.

Changes in the Visa rules in the UK It could affect aspiring Indian professionals in these sectors who have been among the major users of work visas.