Going to US in another 2 months

purifier

I'll be getting my I20 tomorrow. After getting that I will be applying for a VISA date in the month of June if the dates are available. I have a little confusion regarding the following things:

1. I have enough personal funds to support my MS program but I am planning of taking an educational loan from a local Indian bank. Can I take the loan for the first quarter from here and then with the help of a US citizen can I take the rest of the amount from a US bank? What would be the average rate of interest of a US bank?

2. Should I apply for the loan before going to the VISA consulate or can I apply even after getting a VISA?

3. I will be living with my brother in the United States. Should I be taking some sort of an undertaking (notary) from him stating that he would support me when I reach there?

4. I need an advice. Shall I pay the fee for the first quarter which is around $11,000 and then go to US and then take a loan there to pay the for the rest of the four quarters?

Thanks in advance.

ISN

1. I have enough personal funds to support my MS program but I am planning of taking an educational loan from a local Indian bank. Can I take the loan for the first quarter from here and then with the help of a US citizen can I take the rest of the amount from a US bank? What would be the average rate of interest of a US bank?

You can apply for a loan in India and you can also apply for a loan from USA, the average rate in US is lower when compared to India. Checkout the following link for a detailed interest rate in USA http://www.salliemae.com/get_student...ees/#Signature

2. Should I apply for the loan before going to the VISA consulate or can I apply even after getting a VISA?

When you meet the Visa officer he or she will ask for supporting funds for your education so you should at least have enough funds for one full year, and if your brother is willing to support you should as a formal letter from his saying that he will provide any extra funds that are required to cover your education.

3. I will be living with my brother in the United States. Should I be taking some sort of an undertaking (notary) from him stating that he would support me when I reach there?

Yes, it will be helpful

4. I need an advice. Shall I pay the fee for the first quarter which is around $11,000 and then go to US and then take a loan there to pay the for the rest of the four quarters?

If you don’t show enough funds for your first year your visa might get rejected, so it is better to show a bank balance and other immovable assets as a source of funding your education.

Checkout the Indian Students Network

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Indian Students Network http://www.IndianStudentsNetwork.com

crvlvr

1. you will not get any student loans here in the US are these loans are underwritten by the govt and meant for US citizens. If your bother owns a home, he could get a home equity line of credit (HELOC) for about 7.5 - 8.5% (or less if he refinances his home with cash out). the interest expense can also bewritten off against his income taxes. that would be the cheapest option for money here in the US.

2. If the loan fees are reasonable, apply for a loan for the full amount in India. Show the loan approval as the source of funds for the education on your visa application

3. Sponsprships are not required if you have sufficient funds (like the loan approval)to cover the cost of the applications. Sometimes sponsorships (like in the case of unmarried women) can work against obtaining a visa.

4. 3 things to keep in mind

a. Do I need to borrow the money or pay for it from savings?
b. Is it cheaper to borrow in the US v. India. Consider the interest rates and foreign exchange appreciation/depreciation. With the rupee appreciating, you might be better off borrowing in $

c. Are there other sources of funds -- like Financial Aid, Scholarships, and/or assistantships at the universoty.

purifier

Thanks a lot for taking time in replying. I think I'll pay for the first quarter and apply for a loan for the rest of the quarters through an American Citizen.

I received my I20 today. Thanks to everybody who helped me out. However there seems to be a little confusion. On the first page of the I20 the following is written:

The student named above has been accepted for a full course of study at this school, majoring in Electrical, Electronics and Communication. The student is expected to report to the school no later than 09/12/2007 and complete studies not later than 06/13/2008. The normal length of study is 9 months.

Most of my friends have 20-36 months as their normal length of study in their I20s. I'm a little confused as to what this 9 months includes. Could someone please help me out in this regard? If 9 months is the duration of my MS course will I be eligible for a PhD?

Secondly, I was mailed the following by my professor.

We are deciding graduate admissions for the Computer Engineering and Systems Division of the Department of Electrical Engineering and Computer Science at Northwestern University. Based on your application material, we believe that you have the ability to succeed in the Department's Master's degree program. There is a confusion about the branch. Are both the departments (i.e. Electrical, Electronics and Communication and Electrical Engineering and Computer Science) same? Please Help

I've mailed the university but I need some opinion from people around here. Kindly help me...