<p>ok, once again to all of u going duke, do u get decent financial aid or does askin for aid screw ur chances??</p>
<p>Merc, if u work for 2 years u can join Wharton, H, or Kellogg for MBA, and earn BIG $$$ aft, so if u plan something like that, u can pay back more comfortably.</p>
<p>hmmm most top b schools recommend 3 years of work expoerience atleast and Merc I am sure your degree will be worth this investment.</p>
<p>abduke i have been able to acess the internet for a grand total of 3 time sin the last 4 weeks so sorry didnt get oppurtunity to do mail yea 
anyway sorry but are you new here or an alias lol i am lost !</p>
<p>as for travel expenses neha the max i can do is pay for ur taxii fare ( given you pay fo rmy shopping ) i am flat out broke after my delhi trip</p>
<p>ok merc- this is how the $$ situation lloks to me… warning my maths sucks so check the numbers… then again im gujju and generally good with money :P</p>
<p>after your first year the amount becomes 978250 Rs.
second year Rs. 1051618
third year Rs. 1130489</p>
<p>so when u graduate ur debt will be like 11 Lakh 30 thousand … which isnt THAT bad.</p>
<p>what is strange is the freakin interest rate. 7.5% is quite high for a student. im payin something like 4 %. so what iguess you could do is take out another loan thru a relative or friend in america and refinance your loan- pay them with a loan. then atleast your payin 4% niterest and nnot 7%… then again im not sure if u’ll be able to get a loan. </p>
<p>does anyone know whether its possible to pay back a loan thru another loan? i don see any reason why it shouldnt be… </p>
<p>besides all that.,… i say chuck grad school. its just not worth going into more debt for grad school. plus grad school means u cant work, so ur debt will just multiply. i dont think grad school is <em>THAT</em> important… i l know tons of people who have got great jobs straight after undergrad… </p>
<p>well its your decision, just givin my bukllsht advice as usual…</p>
<p>neha- duke finaid was great, for me. but i was told that only 5 students from india got aid… so yeah i guess their quite stingy… </p>
<p>and one more thing- dukes not need blind for intls… so it does reduce your chances…</p>
<p>u thinkin of transferring?</p>
<p>somehow it seems the undertones ot ft’s posts have mellowed down a bit lately…</p>
<p>nope, let me settle in nus first 
but collecting info for juniors… thnx…</p>
<p>in that case nomad, the max i can pay for ur shoppin wud be…ummm…
[sau rupe ke under accha kya milta hai aaj-kal?]</p>
<p>on side note, fantastic four was a gd time pass, the johhny fella[human torch] was cute… :p</p>
<p>adides will comment on DUS</p>
<p>great advice, guys.</p>
<p>ft, interest rate is crap at 7.75%, but I went to SBI yesterday, their rate is 10.5 to 11.5% !! I guess Duke’s loans are way more cool than other places :p</p>
<p>As for paying one loan thru the other, well, while granting a loan, banks look at all aspects, so like SBI told me I already have a 900k loan, so getting MORE will be difficult. :-/</p>
<p>ANYWAY. I think will have to work for at least a couple of years before grad school, and no ft, I wont “chuck” it :).</p>
<p>thx again everyone.</p>
<p>
</p>
<p>heh… lull before the storm… </p>
<p>merc- i ment try and get a loan in the Us thru a relative or friend… they can vouch for you … the interest rates are much lower there…</p>
<p>yo, ft man - i am not in bbay right now…so sorry couldnt join u to see ezra…i am sure that he had more of his crazy stories to share…</p>
<p>
i dont know much about germany, but in the US they offer what is called ‘consolidation’ and as the name implies, you can consolidate your diff. student loan with another agency. also you can always refinance your loan at a lower interest rate.
merc. - you might want to inquire if your int. on student loan is tax deductible in germany (that is if you plan to work in germay/EU). coz if it is, its not that bad considering the high tax level in germany. even if you get to 35% bracket your effective rate would be 4.875% - since you would be able to offset the interest amount against your taxable income.
if you dont plan to work in germany/EU for couple of years, then inquire if the loan can be transferred to the country of your residence, thereby getting tax deduction in India/US or whereever you are.</p>
<p>as for grad school - it is pretty much IMPOSSIBLE to get into good bschool (if that is what you want to do) without 2-3 years of exp.</p>
<p>as far as if the loan makes sense or now - it depends on your other options. think about long term and find the net present value of both options, go with the higher npv option, to do it…you can create a spreadsheet witht the following format (example)</p>
<p>Year Option 1 net savings Option 2 net savings
1 -$7500 -$2000
2 -$7500 -$2000
.
.
5 +$12,000 +$8000
.
.
10 +$70,000 +$40000</p>
<p>and then use the NPV function on excel, with the appropriate rate factor. hope this helps…</p>
<p>^ clearly you have been takin your financial engineering classes a bit too seriously…lol</p>
<p>we gujju’s just kick A$$ when it comes to “rokda” dont we?!</p>
<p>sry bout yestday merc the power went where i was and had to leave anyway… laterss</p>
<p>hope everyone’s goood</p>
<p>Hey dude’s you know with all this loan stuff goin on.
I was wondering if any one here took a complete loan to finance his studies abroad.
Is such a loan really offered?
Even if it is I doubt if it is practical.</p>
<p>actually i’m scratching my head over adides’ post :o
basically i have to convince dad that repaying it is possible.</p>
<p>astrix- no problemo 
taste life outside gurgaon j/k
vampiro - i have a friend who went to take a 1 crore loan for a UG course in the UK… didnt get it cuz they wanted 60 lac security cover.</p>
<p>ok merc then maybe it is possible to get it but you have to have a strong security.
I think you will be able to pay it back.Because a friend borrowed abt 2years of expenses for studying at Purdue and he payed it back easily.
And I do not know from where but he got a loan which allowed deferment for grad studies.So he did his MS too u see.</p>
<p>what??? 20hrs and not a single post??? cmon you cant let tit get bumped down! :eek:</p>
<p>OK fine. Bump :p</p>
<p>blah blah blah!..;)…</p>
<p>oh-i forgot- im going to kanpur :P</p>