Please put this comment i have made as a separate post because many are wondering whether they have to go for masters in India or USA.
They think that one can easily get into Indian universities and spending for USA education is very difficult. But if one tries sincerely for USA Education and takes a loan one can easily get settled in life within a short span of time.
Also the bank loan will get re-paid within 4-5 years. After that one can get more salary and keep their parents happy.
Due to the high fee structure in US universities people avoid to think about USA education.
But the fact is this is like a one time payment, if we spend for Masters now then the future will be happy for all.
I just want students to understand that opportunities and future goals can be achieved through USA education than Indian university education system.
Regards,
Pranav.
****
Thanks to Pranav for sharing your views.
Who is this Pravan anyway?
Read the following comments posted by him at Graduate education is pathetic in India.
I am writing this Comment which follows the thread “Graduate education is pathetic in India”.
Yes it is !!! The education system is pathetic !!! 
I am a guy who had a dream of studying in IITs from my childhood. From 12 th, I started my preparation for getting into IIT through IIT-JEE. After i got the results, i was shocked to see that i got 2 marks lower than the minimum individual cut-off marks in Physics. Qualifying in Maths and Chemistry does not matter at all. All my dreams were shattered !!! :’(
I don’t blame Indian edu system that I did not get a seat but I blame it for the reason that it will give seats to those BC, SC, ST who have a very very low cut-off marks !!! Leave about the quota allotted for them, atleast the cut-off should be the same !!! :O
Through AIEEE, I got into SASTRA University, the uni which is next to IITs, NITs in ranking. I had a great opportunity to carry on research work from my 2nd year in B.Tech. 
I wrote GATE exam in Life Sciences to get into IITs. I got an All India Rank of 508 (95 %le). I was really happy for that. But that happiness lasted for only few months. I contacted many IIT Professors but only 1 replied saying that I should have a GATE Score in Biotechnology not in life sciences.
Next year i wrote GATE in Biotechnology and scored AIR of 1200 (92 %le).
Though it was less than the previous one, it was valid one and the qualifying rank went upto 3,000. So, I was sure that I can get into IITs. But that professor said he had no vacancy in his lab. If it was the case why the hell did he tell me that he wants GATE score in Biotechnology to enter his lab ??? ‘_’
Getting into IITs for Masters is very very difficult. NO ONE RECOGNISES OUR TALENT, ONLY SCORE MATTERS IN IITs. In my case, scores are there but luck is not there. :-/
Meanwhile I had done 2 projects and completed Internship at famous CSIR research organization. My worked is now published in Famous International Journals. I am very very happy that I can learn from my experiences.
I will suggest others that getting a seat in USA is very very easier than getting seat in IITs. Only its just a matter of money and learning. 
Currently i am working in a top MNC. Planning to go for MS as soon as possible. Hope I will achieve my goals soon. 
Share Your Views
Do you have similar or opposing thoughts about higher education in Foreign countries? Share with us, I will post your comments, experience as new blog post.
I agree to this point that in India not only education but in all fields processes are made so random that it leaves you frustrated in the end….in US you are paying more but everything will be set clear to you…no banging head in walls for no reason
Hi! I am Sahil and am currently in class 12th ( physics, chemistry, maths) I aspire to do my undergraduate studies in “industrial design” or “mechanical engineering” from a US university
I have selected my universities, etc and researched a lot about this, the problem i am facing is that my parents are not supporting me….first of all they say that i should do engineering and not industrial design and secondly they say that do B.tech from India and go abroad only for post graduation. I gave the SAT in 11th but my parents didnt not even allow me to touch the SAT PREPARATION BOOKS so i got a score of 1940 …now in 12th when im almost done with my SAT preparation they are reluctant to even register for SAT.
One more reason that they are avoiding sending me abroad is because they fear that if i get racially assaulted or become a victim of ragging it would be very difficult for them to help me. In defense when i told them that according to statistics indian colleges have the highest suicide rates etc they just simply ignored it.
I just hate rote learning and am not able to do it. I love doing practical stuff like mailing science project s, designing blueprints of my new ideas and designs which led to choosing industrial design as my preferred course, but parents dont understand this. Please help me and tell me how to convince them……I would really appreciate if you could write a blog for students like me.
And please do visit my blog and comment!
http://www.geekynation.wordpress.com
Thanks!
Hey Sahil! I have been through same situation. I managed convincing my parents and got into The University of Toledo for my Bachelor’s in Mechanical Engineering. A score of 1940 is good actually. Let me know if you are still interested.
http://www.happyschoolsblog.com/study-bachelors-degree-usa-parents/
Could you please tell me how much was your all india rank for aieee to get into SASTRA university? would be of a great help! thanks.
hi…HSB thx 4 helping.. but my problem is that i what to get admission in us university as right now i have pass my 12 cbse exam.. but dont know how to apply for student visa…im planning to do nursing..
hey guys can you please tell me the chances of getting a good pay job in US after completion of MS programme???? please reply fast!!!!
regards,
aditya
50% graduated in USA are jobless…. its not worth to put money where you cannot recover . period
fully agree
Hi HSB. This is chandu I follow your website very regularly.I have done my B-tech(ECE) in the year 2010 with 64.33% and 4backlogs .my GRE score was 810,Toefl -90 applied for F-1visa on Gannon univ and have got rejected in the month of oct,nov(2010) and dec(2011) I am working right from oct-2010 to till date as a software consultant in a Central govt. Firm .I am planning to rewrite GRE and IELTS and apply for 2013 Spring intake. so my problem is my brother is been to us for his masters in the year 2009 which might be the reason of my rejection previous apart from the LOW GRE score of mine.so all i need is a suggestion from HSB that does a work experience really an added advantage as my salary is 15000 per month.So how far can i show my savings to the VO.and do you think it would really work out if i apply for a VISA, provided my brother is still in USA.
I hope many of us face the same situation
Awaiting For Your Valuable Suggestion
what is the maximum amount of loan one can get from bank?
Like sbi offers max 20lacs…does any bank offer more than that?
I dont think any bank offers loan for education greater than 20 Lacs. Most of the nationalized banks have a ceiling of 20 lacs. And the Rate of interests in most of the banks are ALMOST the same so it doesn’s make much of a difference there.
What you can look forward to in choosing a bank to take loan from is the down payment and the margin amount.
Some Banks also follow a customer loyalty philosophy when it comes to fixing the margin amount. So make sure you have that as a priority.
thanks for the quick reply buddy.What is margin amount and how much downpayment one needs to pay?
When you present your application for a loan with the amount specified in the I20, the bank does not give you a cheque of the entire amount. You must make an agreement with the bank saying you, as an applicant for the loan, are ready to bear with X% of the total amount and you need the bank to support you with the remaining amount. The X% that we are talking about is the margin.
Down payment is relative to the amount of loan you are applying to. Usually the margin concept that I just told you itself is considered as a down payment. It depends from bank to bank. These are the 2 things that you ll have to make a clean clarification of before applying for a loan.
You mean to say if one applies for say loan of 1000 with margin of 10% then he would get cheque of 900 instead.but will,have to pay interest on 1000? Am I getting it correctly.
You ll be issued a cheque for 900 and you ll have to pay interest for 900 itself. The rest of the 100 bucks is your investment for the education.
First of all thanks once again for answering my queries.
So it means when the loan is issued in our example of 1000,I ll get a 900 amt cheque and I ll have to pay that 100 as downpayment.
It usually works like this. You will have to open an account in the bank where you ll be taking the loan. So when you inform the bank that you need 1000 bucks loan amount for your education, they will ask you to deposit a 100 bucks in this account. Then they will issue a cheque utilizing this 100 bucks along with an extra 900 bucks from their side.
So you need to make sure that you have the margin amount (your contribution) in this account before you apply for an installment disbursement.
Ok i got it now i guess.Suppose one is taking a loan of 20 lac at 5% margin then he would first have to deposit 1 lac in the account then he would be issued cheque of 20lac but he would pay interest on 19 lacs.right??
One more thing can the loan be paid in one lumpsum account instead of monthly emi if say one is able to get money luckily.
Yes thats correct.
The margin usually ranges between 15 to 25 percent.The larger your loan amount, the larger the margin will be because you are closing in on the 20 lacs limit.
Loan amount can be repaid in any manner as long as you are paying it within the stipulated period with the required interests.
thanks a ton.
Do you know of creditla.A venture fro HDFC for edu loan.Is it any better than normal edu loans.
Yes I have heard of that. They have a few attractive features like you can apply for a loan without getting admit from any university or before visa interview so that you can show your financial status and things like that. But I am not sure how these things work with private banks. I am not even sure if I have to suggest a nationalized bank over a private one because I am not aware of how these things work in the long run with private banks. But one thing I am guessing is they ll have exorbitant dollar to rupee conversion rate.
So I think thats where they will make up for the reduced interest rates.
Hi,
I approached nationalised banks for loan amt of Rs.20 lac. They said for 20 l, they need some security, like property and the margin will be nearly 33%, eventhough they have mentioned margin is 15% in website.
There is no processing charge. But we should pay for evaluation / legal clearance, stamp duty of property documents – moreover they insist to take some insurance thro them in addition to some initial deposit.
Hello,
Like I said in one of my previous comments to ‘anon’, the closer is the maount to Rs. 20 lacs you are requesting from the bank, the more is the margin because it means that you are seeking admission in a college that has a very high tuition fee (well above 20 lacs) so they expect you to make a justified contribution.
Almost all banks ask for a security or collateral. And the fact that the extra fees has to be taken care of by the customer is also true. I ended up paying nearly 20k bucks as processing fee and all that.
Insurance is a way of making sure that the liability does not become a burden on your family in case of any mishap to the person who is supposed to repay it. In a way its good, but in the midst of all the expenditure it might seem expensive.
Buddy just go for USA if you get the chance. There is no need of any proof that US educAtion, infrastructure, technological excellence, lifestyle is far better than India. One of my friend got a low GRE score, but his SOP and resume showed enough promise so as to get admission and right now he is in Duke. I won’t say just US, most of the other developed countries in the world give a chance to talented students in different ways , not just depending on stupid scores. It’s the Indian education system which can’t/doesn’t wants to recognise the talent but just marks marks and marks. I wish u all the best.
Hi Pranav,
It is a fact that US is expensive. But trust me when I say this, the opportunities you have here in the academic field is not even close to what we have in India. Its all interlinked. You take good subjects that you are interested in, carry out good research and gain quality knowledge. And this quality knowledge is a major contributor in helping you find a job.
After coming to the US, I felt I was lagging behind so much in technological knowledge that I have decided to do my thesis to learn a limited set of topics in depth.
As far as the loan is concerned, you can safely consider that as an investment as it will surely come back to you in the form of financial benefits. But plans to make large amounts of money aside, you can start concentrating on what you need to do in future from the very first day by choosing the right classes.
+1
In India, importance is given only to engineering subjects where as in USA we can go for Specialization in Arts, Music or any other interesting sub-field. Not only education is offered in these fields but also opportunity of getting related jobs is more in USA.
For example only a few universities in India offer Masters in Food Sciences but in US around 50+ top (within 100) universities offer it.
But one has to think and act accordingly to the present and future positions of job aspects in a particular field.
One should think of one’s classes, subjects, electives before entering the day 1. Plan should be made and one should follow it sincerely so that they can utilize the time for studies/part time job or RA.
Any how thanks for the advice !!!
Well Said…