Crisis affects students planning overseas study


Many Chinese students are still planning to study abroad despite the world credit crisis. But they say they'll be choosing their destination and degree more cautiously.

Experts suggest the crisis may actually improve conditions
for Chinese applicants.

The uncertainty caused by the ongoing credit crisis hasn't shaken the determination of many Chinese students to study abroad. Experts suggest the crisis may actually improve conditions for Chinese applicants.

Study counselor Zheng Youwen said, "Foreign exchange rates have been changed by the credit crisis. This has lowered the cost of studying abroad. If you want to study in the United States or Britain, the average cost every year has been reduced by at least 50 thousand yuan."

While their determination to study abroad is solid, students are having second thoughts about some majors. Finance and management used to be hot, but recent bank failures are causing students to look at other academic concentrations.

University applicant Feng Yulong said, "I must plan my career ahead of deciding my major. Now many banks, especially investment banks, have collapsed. I am sure that other industries will prosper and I must prepare for new opportunities."

Many students also predict there will be less financial aid available, with corporations cutting donations to many universities during rough economic times.