Chinese and Indian students might choose the US or Britain over Australia

Australia's historically high currency exchange rate may prompt Indian and Chinese students to seek university admissions in the United States and Britain in the near future. Commentators said more students from China and India might begin to choose the US, with its weak currency, or Britain over Australia. According to commentator Simon Marginson, the Australian Government may have to step in to shore up second-tier universities, which are "losing sleep" over the currency crunch.These universities presently feel deprived of foreign student income. With markets expecting an increase in official interest rates today, and sustained upward pressure on the Australian dollar, the 9.5 billion dollar education export industry is facing an unprecedented challenge on price competitiveness. [View Full Article]