Economic Crises worries Indian Students in UK

AZ — Sat, 22 Nov 2008 06:05:59 +0000

When Kapil from Coimbatore decided to come do his MBA from a reputed business school in London in August, it made perfect sense.

Though it cost him a whopping Rs.35 lac, he thought he’d be able to find work in Britain that would help repay the loan of Rs.12 lac he’d taken quickly.

But, just three months later, UK is in the grip of recession. And thousands are losing their jobs everyday.

“The fees is about 28,000GBP and then living, food, transport expenses means about 40,000GBP is a realistic estimate. If you get a job, you can recover it in 3-4 years. But if not, it’ll be a very worrying factor,” said Kapil.

The dollar dreams, or in this case pound, are disappearing fast. Studying abroad maybe losing the appeal it had for so long.

“Most of the Indian students have come here on loans. Everyone is apprehensive. No one is sure what’s going to happen. What we’re learning from our alumni is that we need to lower our expectations. People like me who’d come for a career switch is almost impossible now,” said Mohamed Farzad K K, an MBA student.

The only silver lining in this gloomy picture is a weakening pound, which means student loans taken in India are becoming cheaper. But jobs are like a distant dream and students could be left staring at the prospect of massive loans to repay.

Foreign Students to British universities could boost due to pound’s plunge

AZ — Mon, 17 Nov 2008 07:24:47 +0000

The number of foreign students applying to British universities could enjoy a boost because of the pound’s plunge, giving UK institutions an advantage over US competitors in their battle for international prestige.

Research from iGraduate, a higher education research group, shows the cost of studying in the UK has fallen sharply for many foreign students, particularly Asians. Britain has become 46 per cent cheaper for Chinese applicants over the past year, and 29 per cent cheaper for Malaysians. The cost for Indian applicants has dropped 10 per cent.

Sir Howard Davies, director of the London School of Economics, which takes a majority of students from abroad, said: “The currency really does help us. When we were at two bucks to the pound, the total cost of coming to the LSE and living in London was really bumping up against the price of Columbia and Princeton, places that we see as our direct competitors.”

The University of Nottingham’s International Office said the weaker pound gave it an advantage over universities in the US, Singapore and Japan, but currency fluctuations meant British institutions faced strong competition for Asian students from Australia. Early figures from Ucas, the central applications body for UK universities, show the number of non-British applicants for 2009 entry has risen 11.1 per cent year-on-year. The figures comprise students who have applied for medicine, dentistry, veterinary sciences and Oxbridge entry. There was a 24.4 per cent increase in early applicants from Singapore, up from 772 last year to 961. The number from mainland China was up 3.2 per cent, with a 7.7 per cent rise for India.

A spokesman for Manchester university said applications from overseas students had risen from last year.

Dr Stéphan Vincent-Lancrin, a senior education analyst at the Organisation for Economic Co-operation and Development, said: “A weak pound will make the UK higher education more competitive against other Anglophone systems.”

He added: “Cost to the students is only one factor among many. In the case of Asian students, we know that the country’s reputation in higher education is the first determinant in their choice. Perceived overall quality is important, and with flattering ranks in international rankings the UK has probably strengthened its external reputation.”

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Economic Crises worries Indian Students in UK

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