Rupee’s slide to record low at 92-mark raises overseas education costs; Dubai’s summer admission takes hit

• Rupee's fall raises costs for Indian students studying abroad
• West Asia conflict redirects student interest to Europe
• Summer admissions in Dubai drop due to safety concerns

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The rupee’s slide to the 92-per-dollar mark is a stark reminder for Indian students planning to study abroad, especially in the Middle East, as the West Asia conflict spills into emerging overseas education hubs.

The rupee fell 0.55 percent to around 92.10 as the US-Israel-Iran conflict entered its fifth day, and continues to hover near the 92-per-dollar mark on March 5.

“This depreciation has a direct, immediate financial implication on Indian families planning an overseas education,” said Pavan Kavad, Managing Director of Prithvi Exchange.

Kavad says that for students currently abroad, receiving financial support from families back home is having a ripple effect due to unpredictable currency swings, especially when remitting funds each semester.

“Every rupee decline meaningfully increases the overall cost of overseas education in rupee terms. Moreover, heightened volatility makes financial planning much more difficult, as families get exposed to unpredictable currency swings when remitting funds semester-wise,” said Kavad.

Summer admissions takes hit in Dubai; Mainland Europe in focus

The escalation of the US-Israel-Iran conflict has already forced students to rethink their Summer Admission plans, which run from May through August, across universities in Middle Eastern nations, particularly in Dubai, mainly due to safety concerns.

“We are already seeing, through our consultant partners, that students who are targeting the Middle East have obviously put their plans on hold,” said Ankit Mehra, CEO of Gyandhan, who works closely with NBFCs.

The analyst believes that the impact of the West Asia conflict on overseas education is largely concentrated in the Middle East. Instead, Indian families have shifted focus more towards education destinations in the Mainland Europe.

Mehra said, “Last year, the industry witnessed a sharp surge in students considering the Middle East a key option for overseas education. The trade-off is now looking more aggressively at mainland Europe, though we haven't seen that as aggressive at this point in time.”

He argued that UK universities, and other countries, were setting up campuses in the Middle East, and that was definitely a destination students were targeting. “I think, in terms of summer admissions, the numbers have dropped, and dropped considerably.”

While most NRIs and students are still abroad, many have already fled from affected countries, sustaining casualties of the crisis that entered its sixth day.

According to Mehra, nearly 9 lakh students go abroad for studies worldwide. Citing industry estimates, he argues, “This fiscal year seems to be in the 6 lakh to 6.5 lakh, or up to 7 lakh range, depending on how far the conflict stretches," adding that the number of students opting for studies in the Middle East usually stood between 2 lakh and 3 lakh per year.

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Our previous report, which cited Gyandhan’s data on education loan volume for 2025, indicated that Germany led with a 90 percent surge, followed by the UK at 88 percent, Australia 80 percent, Ireland 68 percent, and Italy 30 percent on year-on-year basis. The US share fell 45 percent and Canada fell 34 percent during the period.

Mehra believes education loan volumes may not be affected sharply, as students could increasingly shift to mainland European countries for abroad studies.

“The US and Canada have already seen the largest drop in the output of migration. I think most of the lenders will see a flattish kind of performance,” said Mehra.