The American University in Cairo’s president issued a statement on Tuesday morning, stressing that solutions will be found to address concerns about an increase in tuition fees, a day after students held a strike on campus. AUC students went on strike after a forum held with the administration on Tuesday to discuss the effects of the flotation of the Egyptian pound on tuition fees failed to address concerns. Egypt’s central bank announced the floating of the pound on Thursday, allowing the exchange rate to be determined by the supply and demand mechanism. The pound’s exchange rate was formerly fixed at 8.8 to the dollar, but under the new system, the pound has approached 18 to the dollar in some banks on Tuesday. President Francis J. Ricciardone said in an email that immediate solutions would be found “so that no current student will have to withdraw” for inability to meet the deadline on November 20 for the third instalment. AUC policy requires students to pay their tuition fees half in dollars and half in Egyptian pounds. Students who have opted for deferred payment still need to pay their third and last instalment for…
American University in Cairo President Promises Solutions After Students Protest Tuition Hikes
November 8, 2016
