December 14, 2007

Study-Abroad Officials Feel the Pain of Dollar's Plunge

By KARIN FISCHER

Increase in costs could hamper efforts to attract low-income students

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

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