December 6, 2007

Declining Dollar Has Colleges Scrambling to Cover Study-Abroad Costs

By Karin Fischer

As the dollar dips to all-time lows, study-abroad programs are feeling financial pressure, forcing colleges to cut costs, tap reserve funds, or increase charges to students.

In the last year alone, the dollar's value has tumbled 5 percent against the pound, 7 percent against the yen, 10 percent against the euro, and 14 percent against the Canadian dollar. Brian J. Whalen, president of the Forum on Education Abroad, an independent organization of study-abroad providers,

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