Education Loan for the USA

A recent report by upGrad, an ed-tech platform, shows that a significant number of working professionals, about 64%, want to pursue master's degrees in foreign countries. These professionals are attracted to these programs because they provide a curriculum that is focused on the job market and offer better employment prospects. Another factor that makes these master's programs appealing is their shorter duration, which means lower costs compared to bachelor's programs.

The report also reveals a growing preference for education loans among aspiring students. Approximately 31.2% of respondents rely on education loans to finance their studies abroad. Additionally, 27.6% of respondents are actively seeking scholarships, while 21.9% are exploring alternative sources of funding.

Despite the strong interest in studying abroad, the report highlights that 51.8% of respondents are unsure about the application process, including requirements for exams, visa procedures, and other related details.

These findings indicate a rising trend among working professionals who are interested in pursuing master's degrees overseas, mainly due to the program's focus on the job market and the potential for better career opportunities. However, the report also emphasizes the need for improved guidance and support to assist individuals in navigating the application and visa processes.

Last Update - 05/07/2023

A groundbreaking analysis by the National Foundation for American Policy (NFAP) emphasizes the crucial importance of international students in America's pursuit of AI leadership. These students, from diverse backgrounds, significantly contribute to AI research and entrepreneurship, driving innovation in technology.

NFAP's research reveals that a considerable number of top AI companies in the US have founders who arrived as international students. Additionally, a significant proportion of leading US-based AI companies were established or co-founded by immigrants or their children. This underscores the profound impact of international students on the US AI industry's growth and success.

However, challenges in obtaining visas and permanent residency may lead talented international students to seek opportunities elsewhere, potentially jeopardizing America's AI leadership. To maintain its competitive edge in AI, the US must retain and support these students, fostering continued innovation in the field.

Last Updated - 20/07/2023

The US Embassy in India is upgrading its customer service platform, resulting in temporary service suspensions from July 25 to July 28. During this period, customer calls, appointment bookings, and fee payment services will be unavailable, with operations resuming on July 29.

To facilitate the transition, applicants were advised to ensure accurate data in their profiles and make fee payments before July 24. US Ambassador to India, Eric Garcetti, mentioned substantial progress in visa processing, with first-time tourist visa interview wait times reduced by over 50 percent. 

The embassy aims to process at least one million visas in 2023 and plans to expand visa operations and streamline the process. Starting July 29, the embassy's customer service center can be reached at support-india@usvisascheduling.com.

Last Updated - 23/07/2023

The Biden administration is introducing the "Saving on a Valuable Education" (SAVE) student loan repayment plan to ease the burden of student loan debt. This comes after a US court rejected Biden's broader student debt forgiveness proposal in June. 

The SAVE plan aims to reduce monthly payments and total repayment amounts for borrowers, and a beta website will be available for applications before federal student loan payments resume in October. Borrowers will only need to apply once, making it more user-friendly. Those already enrolled in the "Revised Pay As You Earn" (REPAYE) repayment plan will be automatically switched to the new SAVE plan. 

The full website launch is set for August, and it is estimated that over 1 million additional borrowers will qualify for zero-dollar payments under this plan. The SAVE plan seeks to provide relief and a smoother pathway for managing student loan debt.

Last Updated - 01/08/2023

Harvard College has adjusted its admission essay requirements in response to the recent Supreme Court ruling against affirmative action in college admissions. Instead of a single optional essay, applicants must now answer five questions.

The new essay prompts ask students to reflect on how life experiences, academic achievements, and extracurricular activities have shaped them and to describe their future aspirations. This change aligns with the Supreme Court's decision that universities can still consider an applicant's perspective on how race has influenced their life, provided it's directly tied to their character or unique abilities.

In June, Chief Justice John Roberts ruled that universities couldn't establish race-based admissions through essays or other means, reaffirming equal opportunity principles.

Harvard isn't alone in revising its admissions. The University of Virginia lets applicants explain how their backgrounds will enrich the institution, emphasizing diversity's value in academia. Sarah Lawrence College incorporates Chief Justice Roberts's words into an essay prompt, encouraging students to contemplate how the court's decision may affect their educational goals.

In this evolving college admissions landscape, U.S. universities aim to balance diversity promotion with Supreme Court guidelines, valuing each applicant's distinct experiences and potential contributions.

Last updated- 21/08/2023

The US State Department has introduced a groundbreaking one-year professional master's degree program, catering to science, technology, engineering, and mathematics (STEM) students. This initiative, developed by Akhlesh Lakhtatia, a Jefferson Science Fellow and Evan Pugh University professor, aligns with India's National Education Policy 2020.

Indian students, during the fourth year of their four-year bachelor's program, can apply for this 12-month professional master's program in the USA. To qualify, they must maintain a GPA above 3.0, complete two on-campus elective courses in their fourth year, and promptly apply for an F-1 visa through a US Consulate in India.

Upon acceptance, students undertake a year of intensive studies in the US, encompassing lectures, hands-on laboratory work, and industry-specific projects. Graduates have the option to extend their stay for three years via Optional Practical Training (OPT), gaining both experience and remuneration from US industrial facilities.

This program addresses the rising demand for skilled high-tech workers in the United States, offering an opportunity for Indian STEM students to hone their skills and support the high-tech industry. However, students are responsible for tuition fees at both their Indian institution's fourth year and the US university, as well as living, medical, and travel expenses.

Last updated - 29/08/2023

The US Department of State has enacted a pivotal change, permitting student visas (F and M) to be granted up to a year before the program's commencement, effective January 26, 2023.

This aims to expedite visa processing for Indian students, addressing extended wait times. In FY 2022, US diplomatic missions in India set a record by issuing over 125,000 student and exchange visitor visas, positioning India as the second-largest source of US international students. China leads in sending students to higher education. International students contribute over $32 billion and 300,000 jobs to the US yearly, with higher education ranking as a top 10 service-sector export. 

The Department of State foresees issuing the highest number of student visas since FY 2016 this year. Secretary Blinken underscores the crucial role of international student mobility in diplomacy, innovation, economic prosperity, and national security. Over 392,000 F-1, F-2, M-1, M-2, and academic J-1 and J-2 visas have been issued in FY 2023 (through June 30). 

The Department is steadfast in its commitment to facilitating international student travel for its vital contributions to US campuses, communities, and the economy.

The US Embassy has seen a remarkable increase in visas granted to Indian students for the upcoming summer season, reflecting a growing trend of Indian students opting for international higher education. Via a social media post on X ( previously Twitter ) the US Embassy announced- the issuance of a record 90,000 visas to Indian students from June to August. This accounted for nearly one in every four global student visas, highlighting the appeal of American education.

This record-breaking number follows proactive measures by the US Embassy to accommodate the increasing demand from Indian students. Last year, they issued a historic 125,000 visas to Indian students, surpassing all other nationalities. They anticipated interviewing even more students this year, reinforcing the popularity of US universities among Indian youth.

Currently, over 200,000 Indian students are studying at various US institutions, representing over 20% of the international student population. Saurabh Arora, Founder and CEO of University Living, attributed this growth to factors like global university recognition, diverse courses, and plentiful research opportunities. He emphasized the academic and cultural enrichment that studying abroad provides, preparing students for a globalized world.

Last Updated - 17/10/2023

An Indian diaspora group has highlighted a substantial gap between the number of graduating students and available H1B visas in the U.S., limiting the contribution of Indian students to the workforce. The Foundation for India and Indian Diaspora Studies (FIIDS) has urged the Biden Administration to modify the Optional Practical Training (OPT) program for international students.

FIIDS proposes several changes, including extending the STEM OPT period from 24 to 48 months for eligible students with science, technology, engineering, or mathematics (STEM) degrees. They also suggest extending the OPT application window after graduation from 60 to 180 days and providing STEM degree holders with six times better odds in the H1B visa lottery compared to non-STEM graduates.

These changes are aimed at retaining talent for U.S. innovation and national security, particularly in fields like artificial intelligence and cybersecurity. Foreign students contribute nearly $10 billion to U.S. universities and enrich the academic environment.

Without these adjustments, talented individuals might seek educational opportunities in other countries, impacting U.S. universities and the economy. In summary, the OPT changes are essential for retaining skilled STEM graduates and ensuring U.S. leadership in emerging technologies.

Last Updated - 24/10/2023

In the 2022-23 academic year, US colleges are witnessing a remarkable 12% surge in international student enrollment, marking the most significant increase in over 40 years. India is a driving force behind this growth, contributing to a 35% rise in students choosing US universities, reinforcing the nation's status as the top global education destination. The Institute of International Education's CEO, Allan E Goodman, underlines the enduring appeal of the US to international students.

Indian students, reaching nearly 269,000, set a record high and now rank second only to China. The study reveals a strategic emphasis on graduate programs, particularly in science, technology, and business. This aligns with a broader shift, deviating from the undergraduate dominance of the previous decade. China remains the leading source with 290,000 students, but its numbers have declined for three consecutive years, attributed to geopolitical tensions, competition from other countries, and pandemic-related travel restrictions.

US universities, recognizing India's demographic potential, have intensified recruitment efforts, successfully attracting students. The revival, especially in fields like math and computer science, brings international student numbers close to pre-pandemic levels, approaching the 2018 peak of 1.1 million students. This positive trajectory is expected to continue, with an anticipated 8% increase in international enrollment for the upcoming fall, according to recent trend surveys.

Last Updated - 13/11/2023