This week, the Indian rupee weakened tremendously to the dollar as it stood at Rs 81.72 per $1 as of Tuesday. This new low in the Indian currency rate will have a direct impact on the cost of education of Indian students going to the US to study, statistics state. 

At Harvard Business School, the Cost of Attendance (COA) for an MBA course in 2022-23 is $1,12,764, which at the current rate against the dollar comes to Rs 91,88,332. The COA for the same course for the year 2021-22 was $1,11,542, equivalent to Rs 90,88,760. This rise is almost a 10 per cent hike in the cost of fees in the US. The COA refers to the total cost of tuition and fees, books and supplies and on campus accommodation. It doesn’t include transportation costs, daily living expenses, student loans, food, etc.