Dhanbad: The recent depreciation of the Indian rupee to a historic low has caught many pursuing higher studies in the US off guard.

Many are planning to wait out the rough patch and expecting the domestic unit to regain strength before depositing the course fees.

President of BIT Sindri Alumni Association Shashank Shekhar Garuryar, whose daughter Vastuti (20) is pursuing graduation (pre-medicine) from California State University, Los Angeles since 2016, said, "I have to arrange $11000 (around Rs 77 lakh) as the course fee for the fifth semester, excluding the lodging and food expenses. I am waiting the rupee to strengthen before the last date to deposit the fee (August 24) so that I have to shell out less money."

Garuryar knows that the plan has its own risk because the rupee can depreciate further. Moreover, if he misses the due date of depositing the fee, he would have to pay a fine as well.

"We are in a Catch-22 situation as speculations suggest that the rupee may slide to 72. In that case, we will have to face further loss. Sometimes I feel like depositing the fee on Monday itself."

The worried father said when Vastuti joined the course two years ago after completing her Plus Two from DPS Faridabad, the domestic unit was at 64.

"The rupee plunging below 70 has compounded the problems of Indian parents whose children are pursuing studies abroad," he added

Garuyar said he has to pay around $34,000 annually for his daughter's education, lodging and food. He paid Rs 22.76 lakh in the first year, but it would cost him Rs 25 lakh this time.