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The Educational Impact of a weakening dollar

July 22, 2008

While many bemoan the impact of the weakened dollar on U.S. tourists visiting Europe this summer, not much has been said about the effect on all those college students who have been planning to study abroad in Italy, France or the U.K. It turns out there’s been a chilling effect on the desire of U.S. students to visit Europe this year.

When I read this line, it struck me that St. Maarten students wantng to go to Holland for study purposes must face the same fate. If their parents make a living in US Dollars, studying in Holland has become a huge cost.

Some experts say the actual purchasing power of the dollar in Western Europe is hovering around 50% lower than it is here and consequently St. Maarten. This hits students especially hard, and the buzz on many campuses is about study programs in places where the cost of living is manageable.

Perhaps the outcome of the shift in destinations for study abroad is that some of our future leaders might actually visit more remote destinations — maybe Canada or Mexico or even Central America.

My wife recently got a “job” offer from the Foundation for Intercultural Exchange to place 48 European kids in North Florida in an educational exchange program. She has a long track record in providing this type of service and it turns out an easy job this time around as the Euro is “buying” large parts of the US eastcoast.

With the new school year starting soon, it would be interesting to get some feedback on the number of St.Maarten College bound students and where they are going.
Comments are welcome.

Written by stringdude · Filed Under Current 

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