Euro Fluctuations Wreak Havoc on Vietnamese Students' Finances

For international students from Vietnam heading to European universities, the current fluctuations in the Euro exchange rate are causing significant financial difficulties. According to Tien Ngoc Bao Chau, a student accepted into the University of Amsterdam, her tuition fees have increased by nearly 40 million VND due to the sharp appreciation of the Euro against the Vietnamese dong.

Vo Tra My, another student heading to Belgium's VUB in September, also faced a loss of over 30 million VND when her family transferred funds due to the significant increase in the exchange rate. The students' biggest concern is not only the rising tuition fees but also other expenses such as visa applications, insurance, and living costs.

Banks have attributed the fluctuations in the Euro exchange rate to macroeconomic factors, including the recovery of the European economy, the impact of the European Central Bank's monetary strategy, and changes in international financial markets. The Euro has appreciated by nearly 11% against the Vietnamese dong since the beginning of the year.

To minimize losses, parents and study abroad consulting companies are advising students to monitor the exchange rate daily and transfer funds at the most convenient time. Some families are also seeking part-time work opportunities for their children to cover expenses while studying in Europe.