Students find ways to cope with weakening ringgit

PETALING JAYA: Students planning to study abroad are finding ways to cope with the ringgit at its 17-year low against the US dollar.

Wong Ling Hui, 19, who planned to study in Brown University in the United States, said she would try to get an on-campus job to ease her parents’ burden or apply for a scholarship.

“I want to study in the US as I feel I could get a better education and exposure there.

“And I won’t consider going to other countries, even if they have a lower exchange rate.”

Moh Heng Wei, who is bound for Berklee College of Music in Boston this fall, said she would cut down on her expenses.

“That means less shopping and more home-cooked food,” said the 21-year-old.

A student, who only wanted to be known as Sue, said she had chosen a Canadian university, instead of going to the US.

“I had applied to the US universities but changed my mind when I saw the ringgit weakening. It was cheaper to go to Canada,” she added.

Methodist College Kuala Lumpur academic counsellor Joshua Johnson said since the exchange rate was high at the moment, students could take a gap year.

“A gap year is not a waste of time. Besides the income, you also obtain good life experiences,” he said.

He also suggested students opt for a country or university that offered some flexibility for them to work.

“However, you can’t be fully dependent on this as jobs aren’t guaranteed but its an option,” he said.

Malaysian-American Commission on Educational Exchange adviser Kendall Quisenberry pointed out that there was a plethora of scholarships available to international students.

“Not only do Malaysian corporations and government organisations offer scholarship money, so do the US universities,” she said.

A parent, Shirley Ng, said they had to reconsider sending their son to US, especially given the current exchange rate.

“It is a huge setback and now we’re thinking of applying to universities in countries such as Canada and Australia.

“It would be good if he could get a part-time job when he studies overseas,” said the 51-year-old.

Yvonne Chin, 49, whose daughter is studying in the US, said she would have to rethink sending her son to the US as well.

“The exchange rate fluctuates a lot so I have to really think things through,” she added.