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Hike in US colleges fees to hit Indians hardest

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Major US colleges announced their tuition fees for 2004, and across the board there is a hike of almost 15 percent; which is certain to hit Indian students harder than any other group, as they form the largest enrollment group every year in US colleges.

In 2003, nearly 90,000 Indian students enrolled in American colleges. The average annual tuition fee has now crossed Rs 14 lakh per annum as against Rs 12 lakh last year.

The availability of financial aid has also come down in 2004. For many international students, financial assistance is necessary to be able to get an American education.

The 2004 costs of a university in America will range between 30,000 and 60,000 dollars per annum or Rs 14 lakh plus on the lower side.

This large sum is very difficult to meet without some sort of assistance from the college. Indeed, most students on American campuses receive one form of aid or another. However, a large portion of a college's financial perks have now been reserved for American citizens for the academic year 2004.

Already lots of students are sufferring with credit card debts due to less aid resources available, this hit students a lot with increase in fee. On the other side as most of the jobs are now going abroad, a lot of students will try to find jobs in India and will ditch the credit card debt, this will inturn hit the american credit market, which will inturn bring stringent rules for issuing credit cards to International students in a couple of years. Who is loosign at the end, America loosing the top notch talent, or students who have to sqeeze their pockets and get into debt situations to get American education.