as the rupeedollar parity becomes increasingly skewed students in search of quality overseas education are in a quandary to provide them relief the indian banking sector has just vowed to stand by all such students who want to study abroad by agreeing to top up all educational loans either taken recently or being processed to meet the gap created by the falling rupee this comes as a huge relief to a whole lot of students grappling with the increasing cost of education due to the rising rupee they may need to cough up much more for their overseas studies in future as the rupee may slide further as many as 104000 students went to the us in 201011 while 41350 went to the uk in 2010 students will not be left high and dry in their pursuit of higher education said union bank of india chairman and managing director mv nair huge cost of education abroad for an international student the cost of studying at a us university for a year inclusive of tuition and living expenses varies between 25000 and 60000 for an undergraduate course and 25000 and 60000 or more in case of mba at the current exchange rate that works out to rs 13 lakhplus to nearly rs 32 lakh per year bankers said the average loan size for foreign studies is about rs 14 lakh while they are allowed to lend up to rs 20 lakh payments are made every semester the rupee has slipped 17 in the last five months parents will have to cough up more if the local currency stays at this level for the entire tenure of the course for which the loan was taken new borrowers hit hard investigations conducted by et reveal that the weakening rupee is impacting various borrowers in the education space in a number of ways the main disadvantages a student borrower who is getting a topup now from the bank in effect will have to pay back more since the topup will get added to the loan amount a parent who is funding a childs overseas education from personal savings will be critically hit as the rupee slips more and more the reserve bank of india says indians remitted 458 million between april and august and 150 million in 201011 for overseas studies but the rupee depreciation has come as an advantage for students who are about to start repaying their loan after having completed studies and having got a job abroad that pays in dollars they will be smiling all the way to the bank since they will need to pay less due to the falling rupee those who have already paid the course fee either from their own pockets or through loans will not be impacted from the exchange rate fluctuations since they will be paying back in rupee through the contracted emi process it may only get worse the pain of students planning to study abroad is likely to multiply foreign exchange players