<p>For purely intellectual discussion, here's what I think. Asking for financial aid, and considering finances severely limit a student's options. It makes the process unnecessarily competitive - even among well qualified students. I believe that education is the cheapest investment and so even if it is expensive, it is worth taking a loan.</p>
<p>From a personal perspective, I am not asking for aid, and so I feel very less burdened with choosing a college. I can focus more on prestige, ranking, life and other factors.</p>
<p>Yep, Agree with you on this one. Most of us make the fatal mistake of converting the tuition costs into rupees. When we are done with our education and assuming we took loans, we would be earning in dollars, most of us don’t take this into account. </p>
<p>Granted that some of us would want to come back here and then work, but then most of us don’t anyway :P</p>
<p>I do plan to take a considerable amount of loans. I will be taking about 150k $ in loans.
I am quite sure that I will be able to pay out the loan in a few years, I am lucky that my family supports my decision. :)</p>
<p>It may be worth taking loans 1) if you are in a competitive major (and get into a top college here) with great job prospects
2) you should have family support and some back up in case the job scenario does not work out. (This is very important)</p>
<p>However, and this is just my opinion, if I needed to take out 200K in loans, I would rather opt to get my undergrad in India. And take the GRE/apply for grad school here. But again, I dont know the current undergrad situation in India. </p>
<p>My 2 cents - if your family can afford it, go ahead. But no, I would not take out 200K (assuming if that much loan is even possible from India) to finance undergrad here.</p>
<p>Agree with you, Tizil. I’m lucky enough not to have to bother about the finances either. Though when I was first talking to my parents about college, I kept stressing over and over on the cost But then again, if I had an option between asking for financial aid, thus lowering my already minimal chances, and putting my parents in debt for my education I would have chosen financial aid. Just my personal opinion.</p>
<p>Having said that, I do think education is worth taking loans for. But reasonably. No one would want to be in a $200k debt.</p>
<p>I’ll make sure to make it clear to any recruiter that I will only work if they offer me a place in Delhi. That is, only if I decide to work in the private sector.</p>
<p>I’m still pretty much leaning towards the UPSC exams.</p>
<p>What is the guarantee of getting a job here in the US? The work visa process is getting tougher every year. Unemployment is on the rise and the US economy isn’t doing as well. Things are turning around a bit but nothing like what it was 10-15 years back.</p>
<p>Again, if you happen to get into a top school in a major that has great job prospects, your opportunities may be better here. But again, getting companies to sponsor work visa is a long battle. Do not underestimate that.</p>
<p>Okay, new question for everyone. I want past and future posters to rephrase their answers around this one question:</p>
<p>Is there an investment cheaper than education - guaranteeing the same stable returns, of course. I’m talk ceterus paribus, so please don’t bring up implausible hypothetical situations ;)</p>
<p>@Fall2016Parent: Agreed. I was just reading some threads about how difficult it is for current graduates to find jobs in the US. Hence, my insistence on working gin India. I believe that the job opportunities are much better there (India).</p>
<p>Again, I don’t mean to sound pessimistic. The key is “reasonable loans”…what your family can afford. And I know some of you are quite good to be offered financial aid (at least partial) so that is the ideal scenario.</p>
<p>Job opportunities may be better in India, but quality of life definitely isn’t. And I don’t think many Indian companies know the actual value of a degree from say UC Berkeley, and would prefer an IITian over a person who chooses a school outside of the Holy Grail of HMS (Yale and Princeton are not as well known as these three)</p>
<p>Well Pratyush, that depends on a person’s quality of education and experience. My economics teacher, a Berkeley Graduate, is leaving her job as a highly paid teacher in Brussels to join an International School in Jakarta, Indonesia. Why? Because of better opportunities - she’s getting a car, a house, increased pay, lower tax rate. Talk about quality of life.</p>
<p>Also, being an Indian citizen, we’ll have many advantages that we won’t have in the US. Pratyush, do you have any news stories to back that up?</p>
<p>I don’t agree with the quality of life not being good. If you have money, the quality of life is unparalleled. And yes, we’re talking about earning money.</p>
<p>@fall2016parent- True true… Well I am honestly not looking at these things, I don’t know which place I am heading too. Although I have made a personal promise to myself, that I won’t ask my parents for more than a year’s money… And I will do my bets to cover the housing expenses myself… So lets see …</p>
<p>Hm, understandable, Ph43k. Personally, I think it is my parent’s responsibility to provide a financial base for me, at least at this level of education.</p>
<p>I would choose to go to India (despite being a US citizen) hands down after my education. Insult it as much as you want: It’s dirty, it’s sweaty, there’s corruption etc but to be honest I like ALL OF IT. Well I don’t like poverty per se but I like India’s identity. There’s something intangible about it, something vibrant as if its teeming with unadulterated life. Its as if the very air is alive. It can’t be found anywhere else. Hindustan meri jaan. :)</p>
But then again, if I had an option between asking for financial aid, thus lowering my already minimal chances, and putting my parents in debt for my education I would have chosen financial aid. Just my personal opinion.</p>