Here at World Education Services, a colleague - who himself is a former international student from India - recently shared that he would encourage Indian students to understand that although the depreciating value of the rupee is a clearly disturbing trend, the “long-term payoff of the 'studying abroad experience' is still expected to outweigh these short-term external fluctuations."
Something to keep in mind too is that according to a recent report from the Center on Education and the Workforce, graduates in STEM (science, technology, engineering and/or math) fields currently have the greatest post-graduate opportunities for work.
Also, funding your degree(s) can be done in a number of ways, and some students may be able to combine different sources of funding – like grants or assistantships – to pay for school.
Can anybody, who completed MS in US with Education loans say what is the job situation there now? will you get a job so that you can repay the loan taken in India or how many are coming back to India after MS due to lack of jobs?
My guess is none is really affected. That is why thousands of students are taking risk and going for MS. They must be getting dollars after MS.
I suggest you pay university fees every semester and take advantage of the fluctuations in forex...sure the conversion is high right now but it will dip too...Bankers can disburse the amount at the beginning of every semester...which shall be a breather. Working part time is a good option if you can balance your study and work.
It's really a mockery that Banks curtail education loan amount with the fall in tupee value. It is for the Govt's policy and strategy the value of rupee fall / rise. Government must step in to ensure that Bank's ceiling for the education should be floating with the exchange rate. ie. they should sanction loan in foreign currency and disburse the equivalent INR. There are many TRUST in Indian as well as overseas who can come forward in such situation to help the aspiring students. In the long run, the INDIA WILL BE BENEFITED BY ENRICHING KNOWLEDGE OF YOUNG INDIAN STUDENTS.
Don't worry about the falling rupee if you are going to the US for higher education or just f--king around.
Do what all students from Andhra in the US do ...... work at petrol pumps and motels!
It is not easy money but it is tax free and there is plenty of it depending on the time you can spare for such jobs!
You only need money to pay for your tuition fees.
Living expenses can be managed by living with 9 - 10 other Indians in a 2-bedroom apartment and running a community cooking practice in the apartment kitchen!
Remember, only foolish (Non-Andhra) Indians pay through their nose to get an education in the US!
I find Mr.Harish's plan as plain madness... US economy is going down the drain and by next year even the fiscal stimulus money would have vanished. What he will be getting into is a perfect storm with no exit point! Also, the university and the course he has opted is a big "No big deal" in the US today. getting into 40-50 lakhs of loan at such a young age for an MS in Software systems, is plain madness...
