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Cost of overseas studies rising for Chinese

Reporter: Laura Luo 丨 CCTV.com

11-22-2016 16:27 BJT

The weakening yuan means higher costs for Chinese students preparing to study overseas. The US Fed is widely expected to raise interest rates next month and that may mean the dollar could become more expensive. Let's take a look at how that would be impacting the financial plans of Chinese students aiming to study in the US.

Soon many of the Chinese students admitted to schools overseas will start exchange their yuan for foreign currencies. With the yuan continuing to decline, financial planning for such international experience can become more costly.

"The depreciation of the yuan will result in 20 thousand to 30 thousand yuan more cost for outbound Chinese students. "said Si Mingxia, director of Vision Overseas in US.

A four-year-undergraduate degree in the US costs about 1.3 million yuan. As the yuan drops to 6.8 a dollar from 6.4, the cost of a four-year-degree will increase to somewhere near 1.4 million yuan. However, some students are positive that the investment is worth it.

A Chinese student said "The currency fluctuation won't affect my overseas study plans. I will work more and earn some extra income. "
China is the top source for students studying abroad. More than 500 thousand Chinese students went overseas last year. More than half of them chose to study in the United States.

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