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  • 20-12-20

    Lebanon: Private university students struggle with rising tuition fees

    (MENAFN) Due to the USD catastrophe and the rising tuition fees in Lebanon, Tarek Malaeb, a mechanical engineering undergraduate at the American University of Beirut (AUB), may need to put off his graduation since he is unable to enroll for his last semester.

    With his tuition worth more than about USD99,117 per year at the official rate of one dollar against 1,515 Lebanese pound, Malaeb addressed Xinhua saying: "I will probably have to postpone my last semester because my father may not be able to secure dollars for my last tuition at AUB."

    The majority of the private universities, including AUB, the Lebanese American University (LAU) and Universite Saint Joseph (USJ), will begin to determine their USD tuition fees at the rate of 3,900 in place of 1,515, as of next semester.

    The country has been experiencing a U.S. currency scarcity for the past year with clients unable to take out their dollars from banks. Banks, as a substitute, choose to hand the clients their money in Lebanese pounds at the rate of 3,900.

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