Only students studying specific degree paths will be granted US dollars and euros.

The new regulations, published in the government’s official newspaper the Gaceta Oficial No. 39,904, state that the Foreign Exchange Administration Commission (CADIVI), the national authority on granting foreign currency, will only provide funds to those studying 172  subjects pre-determined by the Ministry for Higher Education.

“This [rule] reduces the possibilities for people who want to study abroad, creating a fence around thought,” said Francisco Javier Pérez, president of the Venezuelan Language Academy (Academia Venezolana de la Lengua) on the national radio programme Noticias24. “The decision to reduce foreign currency for some degrees will tremendously impact the deterioration of the country.”

In Venezuela when students want to study abroad, they must apply to exchange their own money into foreign currency through CADIVI. The process is extensive and it is not guaranteed the transaction will be granted. “It’s a lottery,” said a spokesperson for the education agency Asesores Educativos.

With the new changes, only students studying basic sciences, engineering/architecture and technology, agriculture and marine sciences, health sciences, education, sport sciences, social sciences or literature/the arts will be granted foreign currency.

These are fields of study in which Venezuela does not have enough trained professionals according to the government. Common subjects such as psychology, law, sociology, biology, international studies and the humanities are excluded from the list.

“The former system needed a revision to upgrade to the professional requirements of the country, ” said Manuel Barroso, the President of CADIVI, adding that the subjects form a part of educational guidance issued by UNESCO and the National Council of Universities.

“The decision to reduce foreign currency for some degrees will tremendously impact the deterioration of the country”

The new regulations will not affect students who are already abroad or students pursuing languages courses. Still, educators and prospective students across the country have lashed out, saying the rules are “discriminatory” and “unconstitutional”.

The government has directed students to use the Sistema de Transacciones con Títulos en Moneda Extranjera (SITME) as an alternative to CADIVI. However, the exchange rate is much worse, students must have a foreign bank account and the limit to how much money a person can exchange is much lower.

Many students say they will have to turn to the black market to get dollars and euros – a problem also faced in Argentina.

“A student who wants to study abroad for six months can only get exchange money for half of it through SITME,” said an Asesores Educativos spokesperson. “The black market duplicates the cost of the entire course.”