<p>Hey guys, I have a question:</p>
<p>“Does our government currently impose restrictions on the exchange and release of funds for US undergraduate study?”</p>
<p>Some help please :)</p>
<p>i put no as the answer.</p>
<p>Anyone applied to trinity college and harvey mudd college??? I applied ED 2 to trinity.</p>
<p>@hopingforbetter</p>
<p>“Does our government currently impose restrictions on the exchange and release of funds for US undergraduate study?”</p>
<p>And why would you need to know that^??</p>
<p>The answer’s no though! :)</p>
<p>I have a 2290 in my SAT I, 800 in Math II, 800 in Chem.
GPA 10/10. been at the top of my batch since the past 6 years. Tons of ECs. Spent about 4 months on my essays, was pretty happy with them. Great recs, as far as I know.</p>
<p>Highlights of my app - Asia Region Finalist at the NASA Space Settlement Design Competition. One project under the CM of Delhi, another one which won an international competition.</p>
<p>@rishav that question is on the financial aid apps. So I asked.</p>
<p>@thekd95 wow!!</p>
<p>Hey thekd! That’s really cool 
One of my friends won the 2 nd prize solo entry in the NASA space settlement competition :-D</p>
<p>“Does our government currently impose restrictions on the exchange and release of funds for US undergraduate study?”</p>
<p>Yes it does. There’s an act by the government. Just google it; i forget the name.</p>
<p>And thanks thekd! That puts a lot of things in perspective!</p>
<p>^ Keya93, I don’t think so. There are no restrictions for release of funds for “undergraduate study in the US”, as far as I’m concerned. Because of 2 reasons:-
- Then you wouldn’t see SOO MANY Indians go to USA each year, because the inability to pay in $$ would restrict them otherwise.
- India has friendly relations with USA in all aspects. So I doubt they would restrict something like this.</p>
<p>Is it possible that you read something about a restriction on the “general transaction” in foreign currencies in a single day by an individual or something – RBI does have such restrictions…</p>
<p>@thekd95 - Congrats!! </p>
<p>My school team actually won at NASA!! 
Too bad – I was new to the school in 11th when all the selections were taking place and so I couldn’t really get into the team!!</p>
<p>Rishav^^ are u in cottons,bangalore??</p>
<p>I’m not sure what this means, then: The Foreign Exchange Regulation Act (FERA) was legislation passed by the Indian Parliament in 1973 by the government of Indira Gandhi and came into force with effect from January 1, 1974. FERA imposed stringent regulations on certain kinds of payments, the dealings in foreign exchange and securities and the transactions which had an indirect impact on the foreign exchange and the import and export of currency.[1] The bill was formulated with the aim of regulating payments and foreign exchange.[2]</p>
<p>^ Doesn’t affect payments with regards to overseas education!! :)</p>
<p>FERA is applicable only in certain investments and transactions, IIRC. Educational funds are not a part of them. Its more of a business kind of a thing.</p>
<p>Oh GREAT. I wrote that on my FA app! :P</p>
<p>^You can always mail the college and ask for a correction, keya :P</p>
<p>FERA is replaced by FEMA (see wikipedia and RBI site for more details).</p>
<p>@thekd thanks for the update. How tough is the Space competition compared to, say, things like the IMO, Region MO…</p>
<p>^ True. Another problem with “unrevised” revised editions of Economics Text books in India!! :p</p>
<p>Both FERA & FEMA though did/do not place any restrictions on undergraduate study payments in foreign countries!! (I might be wrong… )</p>
<p>@antialias - IMOs test your knowledge, SSDC tests different things - team work, application, imagination, work ethic, etc.
I know for a fact that to do well in IMOs you need to be married to the books while to do well in ARSSDC/ISSDC you need to be smart!! :)</p>
<p>Rishav17, are you from Amity Saket/Bishop Cotton?</p>
<p>And I agree. IMOs etc test theoretical knowledge and theoretical application, where as ARSSDC/ISSDC require you to think about the future, and in the future (the scenario given is usually in the 2070s or 2080s). Plus these type of competitions test leadership skills and teamwork. I think the fact that I has the VP of my company, as well as the head of both a science and a business division seperated me from the scores of others who participate. If that makes sense.</p>
<p>haha…rishav17 has to answer i guess. Two persons have asked him if he is from Cottons. </p>
<p>Come on rishav…rishav rishav rishav! :p</p>
<p>^ I don’t :p</p>
<p>:D</p>