What are the average salaries in STEM fields with undergraduate degree only from mid ranked Universities in USA ? How does that compare with salaries for a grad in STEM field from a mid ranked USA university who has an undergrad degree from outside the USA (from India).
I am trying to find out if doing undergrad in India and then going for grad studies in USA will be cost effective compared to doing undergrad study in USA.
The assumption here is that my kid will probably not go for grad studies if he does undergrad in USA. If he does undergrad in India he will definitely go for grad studies in USA.
In short, I am trying to evaluate the ROI for a undergrad degree compared to undergrad in India plus grad degree in USA.
You can be an electrical engineer working for a construction company and make 90K per year after 5 years, or an electrical engineer working for a Silicon Valley start- up making 70K but with a million dollars worth of options.
Your premise is very faulty. I don’t think you can make this decision based on what you are focused on.
The usual case involving non-US citizens is that the student will do a low cost bachelor’s degree in the country of citizenship or residency, then a funded graduate degree in the US, simply because attending undergraduate in the US is too expensive for most international students (who have very limited possibilities of financial aid and scholarships).
As a US citizen living outside the US, he is in a different situation. He will be eligible for financial aid and scholarships available to US citizens but not international students, but will not be an in-state resident for state universities. So the possibility of a lower cost bachelor’s degree in the US is a potential cost effective option, although he will have fewer options than a US citizen living in a state in the US where in-state public universities are attractive.
No one can tell the ROI comparison for you, since you did not give any information about what you can afford, what level of financial aid you are looking at (check net price calculators at various college web sites), what schools in India and US he can realistically get admitted to, how competitive getting into a funded US graduate program would be from the schools in India that he may attend, etc… Of course, financial ROI can depend greatly on economic and industry conditions at the time of graduation.
Ok. Let me put it in a different way leaving out the salary part. Which of the following will hiring companies favor ?
An undergrad only degree from a good USA university.
An undergrad degree from outside USA (probably the hiring entity has not heard about this college however good it might be since it is outside USA) plus a grad degree (masters) again from a good USA university.
I am able to shell out a total of $100k for my kid from my own money. Although I would prefer to shell out $50k and take the rest in loans if aid is not available.
I am targeting mod ranked state Universities like UT Dallas, Ohio State, University of California colleges etc.
However, the results for master’s degrees do not indicate whether the graduate did bachelor’s degree in the US or otherwise, and whether the graduate was an international student who needed a work visa, so they should be considered with caution.
At your budget, you need to check net price calculators to see if it is even possible on financial aid (and be aware that public universities give little or no financial aid to non-residents of their states). If the net price calculator results are too high, then your son needs to seek large merit scholarships or possibly low list price schools. He can borrow a limited amount on federal direct loans ($5,500 first year), but additional loans would require a cosigner (you) or be parent loans, either of which is typically a bad idea since it seems like you do not really have the money.
I have $200k set aside exclusively for both my kids’ education. I can shell it out completely if forced to but would rather use some kind of student/parent loan.
Besides being a USA citizen currently living outside USA, I currently also have USA income and am filing federal/state taxes so am hoping can qualify for loans.
Your credit score, income, and assets will determine whether you can get loans. If you do the usually-inadvisable thing of borrowing for your kids’ undergraduate education, try to avoid making either of these mistakes:
A. Taking too much debt in the student’s first year, then not being able to get additional loan in later years due to having too much debt, forcing the student to drop out.
B. Taking on so much debt that you can only pay it off with assistance from your kids, which will severely restrict their life choices. For example, they may always have to chase the money to have enough to help you, which can prevent them from choosing a job that is lower pay now but may be better for future career development later.
From what I’ve seen, a BS eng from a US school may start a little lower than an MS eng from the same school, but that difference washes out in 2-2.5 years.
Sometimes it seems that Visa sponsorship maybe factors into offers, but that’s not based on hard data.
If your kid has a decent GPA and over 30 ACT, several schools should be available for 50-75 for 4 years.
@golfdude71 there aren’t many universities in that price range, for international students at least. What are your kid’s stats? We could guide you toward schools that would likely end up in your price range, post scholarship and financial aid.
Forget trying to find ways to maximize your son’s income. Focus on maximizing his education. This includes the whole person, not just the academics. You presumably know your kid. You know his academic aptitudes, interests and stats. You also need to know his interests and desires to live in the US. My H is from India (a physician like me) and definitely belongs here. Others seem to have one foot in both countries. Given your financial situation how often would your son be able to return to visit family and friends? It is a lot different to leave home at 22 than at 18. Is it YOUR idea or his to come to the US?
Read post # 8 again. Scenarios:
Son is not enthusiastic about leaving home et al. Choose the Indian undergrad education, then further US education if HE wants to then. If he wants to stay in India and live in Indian culture, that is HIS decision.
Son really wants to be in the US. He then should go for a US education. He needs to look at schools good in fields of interest, STEM from what you state. Do not just consider schools you have heard of from family and friends. Research the best schools that he has the ability for (gpa, test scores are one indicator). If he ends up at a so-so/average US college he will be just that compared to the thousands of US grads in his field. Coming out of a college known for good departments in his field will help his job prospects. I assume he has no ties that make any one region stand out. He can always add a masters to his bachelor's degree later.
Son is more neutral about going to school in the US. He then should aim for the best school he can get into and be successful at in either country. A degree from a well respected Indian U is better than one from a so-so US school- he will have learned more. Hw would have the advantage of coming to work in the US without needing a visa- a good thing for companies. There are Indian U's that give a much better STEM education than many average US colleges. The tech industry prefers the best grads- you have taken citizenship issues out of the equation.
Finances will of course determine the exact path. Do not go into debt if you do not need to. Do not spend your retirement savings.
As you can see, it is all about education, not snagging the good job. It is HIS ability that counts, not just where he went to school. Being a top student at a good Indian U is better than being okay at an average US college for his major. The tech world is familiar with the caliber of students coming from many Indian U’s.
It is very important to take into consideration your son’s wishes. Yes, he is a US citizen. But he apparently is being raised Indian. It looks as though you tried life in the US but preferred to return to India. Perhaps your son likewise likes Indian culture. I know many people from India and can list pros and cons from their varied viewpoints. I know people whose kids came here and chose to stay. H has many classmates who came and others who chose to stay in India. Quality of life, not just income matters.
Short answer- for the thread question. Salary and job opportunities will correspond to ability. Being a good student from a good U is best.
And even the most die hard Comp Sci kid can get to college and fall in love with econ or history. So picking a college to predict future earnings/discipline/career is bound to be an exercise in frustration!
Wis, thanks a lot for the insightful reply. We lived in California for 14 years and loved every bit of it. We returned to India out of choice to give a taste of India to our kids, take care of aging parents etc. Both me and my wife have studied and worked in USA. I do not want my kids to miss out on the good things USA has to offer specially education. Thus the dilemma.