University education in the US is known to be a big financial commitment, being amongst the most expensive in the world.

But the recent strength of the dollar against other major global currencies is adding to the financial struggles of international students studying in the US, and their families back home.

The dollar now sits around a generational high, up more than 10% in the year, and approaching parity with the Euro.

Source: Google Finance, as at 15th September 2022

While the causes are well explored in the financial press, and the consumer press focusses on domestic inflation worries, spare a thought for international students living in the US. Many of these students are being hit with a double-whammy of a strong dollar coupled with high inflation back home where parents are struggling to keep up.

At the moment there are no signs of a significant impact on international student recruitment into the US, and it may be that the relative strength of the US economy serves to encourage even more students, despite the additional costs.

Nevertheless, education and accommodation providers would be well advised to monitor the welfare of their international students carefully, and offer what support they can at a time of significant financial stress for so many.