The Hindu Business Line : Now, one-stop shop for students going abroad

Mumbai, July 8 Thomas Cook (India) Ltd’s ‘U Special’ product for students promises to ease the passage to an overseas education. Besides airline ticket, passport and visa services, hotel and car reservations, it offers discounted tickets, and insurance and foreign exchange services under one roof. Students can also pay tuition fees through the foreign currency drafts and other instruments offered by the travel company.

While charges for the drafts range between Rs 150 and Rs 500, the insurance premium ranges between Rs 1,500 and Rs 15,000. “It would depend on the country one is applying to, the insurance cover he or she is seeking and the period,” said Mr Parag Mehta, Head of Foreign Exchange, Thomas Cook (India).

“After clearing GRE or GMAT, if students want to apply to more than one university, they need to send application fees to every institute which becomes a hassle. We assist them with multiple transfer options in foreign currency through drafts and other services, helping them meet deadlines,” Mr Mehta said.

Post-admission, apart from remitting fees directly to the institution, parents can make direct money transfers to their wards through SWIFT wire transfer service to help meet living expenses or emergency needs during the student’s stay abroad.

Thomas Cook plans to run the scheme till 2010, but foresees an extension due to growth in the overseas education market. “According to various data available, around 1.5 lakh Indian students go abroad for studies every year, and the market is likely to grow by 40 per cent. We are targeting 10,000 students in our first year of operation and plan to reach 50,000 in the next three years,” he said.

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