With the rupee falling over 18% against the dollar in the last year, course fees and living expenses carry a higher price tag for Indians, forcing students to defer overseas plans or look at alternative sources of funding like loans, scholarships or part-time jobs. But as a recent article in points out, obtaining a loan could be a challenge. According to the Reserve Bank of India, lending on education loans grew only by 17% in October 2011, compared to 24% in October 2010. Banks are cutting back slightly on loans for overseas study due to a perception that the graduate jobs market is tightening. “Banks may now see higher risks for students in terms of job potential and the ability to pay back the loan,” said Prashant Bhonsle, country head of Credila Financial Services, who felt that global uncertainty could have led to the slowing in education loan growth. Time will tell how Indian students cope with the currency fluctuations - will the majority wait it out, part with more money or turn to alternate funding sources? Source: