THE BIG FAT LOAN

GMTplus7
Fri, 09 Jan 2015 13:09:46 +0000

My family income is 18 lakhs. I will be able to pay for around one and a half years and will be taking a loan for the rest. How risky is this?

Actually, some banks did offer a loan for 3 years that could be paid back in 7 years

Isn’t 18 lakhs equivalent to USD 28k? Purdue’s website estimates cost of attendance for int’l students to be ~USD 44k-- and that includes USD 360/year for transportation. When is the last time you saw a R/T airline ticket from India to USA for USD 360?

2.5 years X $44k/year = $110k

How on earth are you going to repay USD 110k back in 7 years w an Indian income level?