Amid the increasing frequency of assaults on Indian students in the United States, there has been a discussion regarding alternative study destinations for Indian students pursuing higher education.
Recently, a [ppp0] involving an Indian student from Hyderabad gained widespread attention, depicting him bleeding profusely after being physically assaulted and robbed in the US.
Subsequent to this incident, the President of the United States acknowledged that the US government is actively striving to combat such attacks targeting international students from India.
Undoubtedly, the United States, alongside Canada and the United Kingdom, remains a highly coveted study abroad option for Indian students seeking to pursue undergraduate and postgraduate programs.
The influx of Indian students to the US surged by 35 percent, reaching a peak in the academic year 2022-23, as reported by the Open Doors Report (ODR). Indian students represent over 25 percent of the total international student population exceeding one million in the USA.
In this context, we provide an overview of the expenses associated with studying at an American university.
Primarily, the cost comprises tuition fees and living expenses.
Tuition fees constitute a significant portion of the total expenses and vary depending on the chosen academic program and institution.
The cost of courses differs substantially based on the university selection. Generally, prestigious private universities command higher tuition fees compared to less renowned or state universities.
Management Education
A management degree ranks among the most sought-after qualifications in American academia. Despite the substantial financial investment required, the high employability associated with this degree justifies the expenditure for many students pursuing a management qualification from a US university.
Tuition fees for an MBA program at Harvard amount to \(115,000 per year (approximately ₹92 lakhs at an exchange rate of US\)1 to ₹80), totaling around ₹1.8 crores for the two-year course duration.
Conversely, opting for a state university like Arizona State University would entail a total fee of $107,923, equivalent to roughly ₹86.33 lakhs.
Graduate Programs
Similarly, the tuition fees for graduate programs vary significantly based on the institution of choice. For example, pursuing an MS in computer science at the University of Chicago could cost between \(59,337 and \)79,116 (approximately ₹47 lakhs to ₹63 lakhs).
In contrast, Kent State University charges approximately $20,000 per year as tuition fees, amounting to around ₹16 lakhs in Indian currency.
F-1 Visa (Academic Student) Financial Requirements: Additionally, applicants are required to demonstrate sufficient funds in their or their family member’s account. If utilizing funds from a relative, proof of relationship must be provided. Eligible relatives include grandparents, aunts, and uncles. Multiple sponsors can also contribute to demonstrating the financial capacity.
Explore a plethora of benefits! Access informative newsletters, real-time stock monitoring, breaking news, and personalized news updates – all conveniently available at your fingertips!
For more insightful stories and updates, visit Live Mint.
Download the app for daily news and live updates.
Published: 27 Mar 2024, 08:50 PM IST
Topics You May Find Interesting