Recession Worries Students
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 35 lakh rupees, he thought he'd be able to find work in Britain that would help repay the loan of 12 lakhs 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 28,000 pounds and then living, food, transport expenses means about 40,000 pounds 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.
