THE BIG FAT LOAN

abcpqrxyz
Thu, 08 Jan 2015 17:42:49 +0000

Alright, first of all I am terribly sorry for posting on this forum so frequently. But the whole paying for US thing has been worrying me. (I should really be preparing for boards. lol. :P)

Okay so I have been accepted by Purdue. And from my previous post I gathered that it is a great university for engineering. I definitely want to go there. But however, I will have to pay full fee for which I will be taking a loan. I have a lot of questions regarding this. (Again I am terribly sorry, but if someone could answer them I’d be eternally grateful. )

a) 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?

b) I know that there are a copious number of Indians at Purdue. Are these students super rich or do they have a background like mine? If yes, are they doing good or are they breaking their necks to pay back the loans?

c) After graduation, I understand that there is a good possibility that I might not get a visa and might have to work in India. What then? Considering this to be the worst-case scenario will I be able to earn enough to pay back the loan in 4 years while getting help from my parent (i.e. with the 18 lakhs/year)?

d) Please do share any information about anyone you happen to know who has been in a similar situation like mine.

e) Lastly, I have a couple of close relatives who are working for huge MNCs in the US. They said that they would be able to get me a job if I opt for Computer Engineering (which is my second option after Aerospace). Can I consider this my “safety” or are there some loopholes that I am missing?