nmmbaabroad Says

Based on your plan, If you come back to Indian in Year 2 and stay in India (out of US) for a year, then the clock is reset. That means, Year 5 will be treated as the starting year for the new H1B you are going to get after your MBA.

So if i return to India, i would have to apply for H1B again to be able to work there, right?
Also, does applying for H1B for the 2nd time have any particular advantage or disadvantage? Thank you

Based on your plan, If you come back to Indian in Year 2 and stay in India (out of US) for a year, then the clock is reset. That means, Year 5 will be treated as the starting year for the new H1B you are going to get after your MBA.

After getting an H1B this year, I have a set plan for the next 7 years(if all goes according to plan)
Year 1 - Work for my company in the US
Year 2 - Back to India & work for a yr more
Year 3,4 - MBA in the US
Year 5,6,7 - Work in the US to repay my loan.

Query: H1B is valid for a max of 6 years. I think we need to return to India before applying for H1B again. How to do i manage to work in the US in the 7th year without having to return back to India for a yr? Kindly help. Thank you.

After getting an H1B this year, I have a set plan for the next 7 years(if all goes according to plan)
Year 1 - Work for my company in the US
Year 2 - Back to India & work for a yr more
Year 3,4 - MBA in the US
Year 5,6,7 - Work in the US to repay my loan.

Query: H1B is valid for a max of 6 years. I think we need to return to India before applying for H1B again. How to do i manage to work in the US in the 7th year without having to return back to India for a yr? Kindly help. Thank you.

I can help all i can

Looking at this link that you posted The High Price of Admission

The Years to payback has been calculated as Total Cost/ Salary premium

....

Hope it helps!

nice explanation

ITs a US mba loan topic but still --I dropped the idea of joining HKUST inspite of 100 % scholarship(though chances are high that i might join it next year after collecting some good amount of money)

I really want to be back in india asap and thats the priority for me!!

Any reason for not looking at Indian MBAs? there are some top notch ones right here as well...

what is the credibility of this company???
Has some one taken a loan???
Seniors help pls.........

http://www.isloan.org/

Hi,

Can anyone tell me what would be the total cost for doing an MBA in US from top20 universities...?
I referred to different websites but each one is giving different estimates.

bs0409, each b-school would have certain fixed and variable component that would determine the cost of your MBA.
For example, the fixed components would include the tuition fees (which is the major chunk), health insurance, fees for books & course materials. The variable component would be your living, eating, personal excursions and other life-maintainence expenditures (including studying with family)- which will depend on your lifestyle.
Other than this you would be paying for any field trips/ career treks etc
The best place to get this data would be from the websites of your target schools. In general you can expect the cost of an MBA from the top 20 programs to work out around $150,000 - $160,000.

MBA Decoder

myself ashish from India , from a middleclass family taking a loan and thought to do mba in usa ,i have few questions
is mba from average university in usa is worth to be taken as loan to pay tuition fees or there is hamburger of universities like scene in India and one cant pay loan so easily
in order to pay loan i have to remain in usa for long time ,and to stay in usa i have to file h1b during opt status ,what are chances of this narration as of international student previous experience in this regard
IS only top ranking 15 business school in usa fruitful in my case ,if yes their 2years tuition fee is around 100 k but i donot have that money and i have to take loan do they provide loan for international student?
is scholar ship available .please comment
my email id is
my phone is

Hi,

Can anyone tell me what would be the total cost for doing an MBA in US from top20 universities...?
I referred to different websites but each one is giving different estimates.

ITs a US mba loan topic but still --I dropped the idea of joining HKUST inspite of 100 % scholarship(though chances are high that i might join it next year after collecting some good amount of money)

I really want to be back in india asap and thats the priority for me!!

I also heard of Paras. How quick and reliable are they in processing loan applications?? Any idea?

In this context does anybody have any idea about
1) How long it takes to get Canadian citizenship?
2) How long the US GC queue is for Canadian citizens?

Hi Folks
Anyone having any idea on the following:
Duration of OPT in US post MBA? Is it 14 months ? Also anyone who completes an MBA from US gets to stay in US during OPT irrespective of whether they get a job or not ?

OPT period is 12months. You are allowed 90days of unemployment in the OPT period before you have to leave the country. However, if you are working in even a non-paying job, then the 90day rule is put on hold. Most students, when still searching for a job, volunteer at some kind of organization and thus keep away the 90day limitation.

Hi Folks
Anyone having any idea on the following:
Duration of OPT in US post MBA? Is it 14 months ? Also anyone who completes an MBA from US gets to stay in US during OPT irrespective of whether they get a job or not ?

@MissionMBA2013 : also, check out http://www.isloan.org -- they're giving US$ based loans and their terms are wayy better than Credilia's. Makes the finance not a worry! I had used them for my undergrad in the US many years ago.

TraderJoe1976 Says

Well, it is true that IF you get sponsorship for H1-B visa AND you are able to keep your job for five years, you should be able to pay off the $160 K MBA loan (even with the interest acruing on it). But the reality is that very few Desi MBAs are able to keep their job long enough to get the Green Card. The USA immigration system works in such a way that the companies keep the employees on H1-B visa for 4-5 years before they agree to sponsor the Green Card. Once they start the Green Card process, it takes an additional 8-10 years to actually get the Green Card. Very few people are able to keep their job for 12 years. In Hedge Funds most people get fired within 3 years. In the MBB consulting firms, the turnover is very high because they don't allow people to stagnate. So almost everyone lands up back in India looking for a job and sometimes the Indian job market is not so accomodating to foreign MBAs from the lower ranked schools.

@TraderJoe -- really?? Clearly really really smart, only then would you get into a top school & get a fancy well-paid job. I'm really surprised that you start off iwth "if you can keep you job for 5 years". Most companies do have a leaning-out-the-fat policy, but it is mainly for getting rid of the bottom 10% or so. Pretty much everyone I know has been able to keep their job if they wanted to for 5 - 10 years, though most of them found a better opportunity after 3-4 years so voluntarily moved on.

Hello,

I have admits from the school mentioned below along with scholarships.

1. USC Darla Moore School of Business
2. W&M; Mason School of Business
3. Case Reserve Western University Weatherhead School of Management
4. University of Missourie-Robert J. Trulaske College of Business-Crosby MBA program.

After considering the scholarship amount, I will be spending around INR 36 Lakhs to pursue the MBA program. Moreover, I am planning to take a loan of INR 20 lakhs.

Given the current job situaiton in US is it worth it to spend this kind of money on a MBA program form the schools listed above??

With a loan of INR 20 Lakhs, I would end up paying a EMI (Monthly Installment) of approx. INR 65,000 for a period of 3 years to payback the loan.

It would not be possible to pay off such a huge loan by working in India, so it would be very necessary for me to secure a job in US.

In current economic situation would it be advisable to go ahead with the admits.

Please advice.

Hey... I do not have too much idea about these schools, but about the loan of 20 lakh, why are you saying that u will need to pay it back in 3 years? if you take a loan from say, Credila, or even a PSU bank, all of them have a repayment tenure from 7-10 years... which means much lower EMI... maybe 35000 INR per month for 7 years' loan and 26000 INR for a 10 year one...

Hey i have got 71%in ssc,55in hsc and 63 in B.E from mumbai university ,
7 + years of IT experince and 3 years of enterpernur experince +10 years of USA B1 Visa,+ 3 Months Of Internation Exposure.Whihc unviersities i shud target for ???

Hi Folks
I have an admit from BYU (2011-2013).My details are as follows : 700/IT/3years; planning to do specialization in Marketing. I have few questions out here:
1. The duration for OPT post MBA is 14 months or not?
2. Chances of getting a job/H1B after a degree from BYU considering its ranked 27th and is ofcourse not amongst the top 10.
Any more updates about the school or possible description of jobs that an IT person with MBA in marketing might get or should target.I am looking for a client facing role actually preferable in IT only.

absolutely correct kungfupanda2....but there are other factors also whihc should be taken care off and when you get there on loan...belive me there is no backing off even if you like it or not.

Hello Puys,

I have been reading the posts in this thread for sometime now. It seems the general advice is to do MBA from US only from top 20, otherwise there might be a lot of problem, in terms of loan repayment, job, career growth etc. But I also read a lot about the right fit B School, location, International job placements etc. I am a bit confused, so what if some school outside top 10/20 offers a good scholarship ?Should we take it, and will it be possible to get a good job in US and back in India(if the situations compel one to come back).I know of a person who got into Vanderbilt with a good schlarship and has passed out and doing project management work for a manufacturing firm in US(this perosn was in IT -4 yrs exp), Now vanderbilt is not in top 20... I have been to US recently and my H1 is also getting processed from my company... and the visa scene for US is not at all very positive..I really want to know how students from India doing MBA in USA are doing in terms of getting a job, finding a visa sponser etc... Kudos to all who have been there and done it and all who are in the process.:cheerio:

Well my profile - IT- 4.8 yrs exp, planning to give GMAT, intersted in a career in technology. I personally feel after having read innumerable blogs, threads, profiles that with my profile to get into top 10-20 is very very tough, may be my perspective is too pessimistic.So is it really worth all the effort to do a MBA from USA especially in the current situation or it is better to do from India/Singapore ?

Sorry for writing a long post, or if my questions are repetitive but I would be thankful to all you experienced puys if you could provide some answers/advice/suggestions to my doubts/questions.

Thanks in Advance.

Sir, I do know that there is some risk involved and I'm willing to take the risk. That's not a problem.

The problem is that I want to know of what magnitude the risk is likely to be and at what stage is it likely to arise. I don't want to be taken by surprise.


BTW, do you think the adcoms will be willing to take the trouble of answering a few questions related to the application process?

Regards

Adcoms should be helpful. I would suggest you try at pagalguy, gmatclub.com, betathegmat.com, first as there are people in your shoes in these forums. You can discuss with MBA grads on facebook communities as well.

Hello Buddyforal,

What about rest of the schools apart from the top 20. I have been admitted to the schools mentioned below:
1. W&M; Mason School of Business
2. USC Moore School of Business
3. Case Reserve Western Weatherhead School of Management
4. University of Missouri-Crosby MBA

These schools are not in the top 20. Taking into consideration the scholarship amount, I will have to pay 36 lakhs to complete my MBA. To pay this amount, I am planning to take a loan of INR 20 Lakhs.
With this kind of a loan, I will have to pay a EMI (monthly installment)of around INR 65000.

With the current economic condition in USA, is it advisable to take such a hefty loan and pursue an MBA from any of the schools listed above...I am sure that it would not be possible to pay such a high amount of EMI working in India....

Its all about your family's financial condition. Market conditions
are getting better in US. I know one guy who's dad sold a plot of land for 35 lakhs to finance his MBA from Purdue. He got a 115k job, this year. But there is some chance you have to come back to India, you have to be be prepared for that as well.

Top 20 MBA schools give you loans without cosigner. That's why getting in difficult.

Every Indian who gets a MBA thinks about these questions. I can assure you will never get 100% satisfactory answers for these questions. I don't know any one from Top 20 MBA coming back to India with the heavy loans. Do you ? At the end of the day its a risk. Return is directly porpotional to risk.

Hello Buddyforal,

What about rest of the schools apart from the top 20. I have been admitted to the schools mentioned below:
1. W&M; Mason School of Business
2. USC Moore School of Business
3. Case Reserve Western Weatherhead School of Management
4. University of Missouri-Crosby MBA

These schools are not in the top 20. Taking into consideration the scholarship amount, I will have to pay 36 lakhs to complete my MBA. To pay this amount, I am planning to take a loan of INR 20 Lakhs.
With this kind of a loan, I will have to pay a EMI (monthly installment)of around INR 65000.

With the current economic condition in USA, is it advisable to take such a hefty loan and pursue an MBA from any of the schools listed above...I am sure that it would not be possible to pay such a high amount of EMI working in India....

Top 20 MBA schools give you loans without cosigner. That's why getting in difficult.

Every Indian who gets a MBA thinks about these questions. I can assure you will never get 100% satisfactory answers for these questions. I don't know any one from Top 20 MBA coming back to India with the heavy loans. Do you ? At the end of the day its a risk. Return is directly porpotional to risk.

Sir, I do know that there is some risk involved and I'm willing to take the risk. That's not a problem.

The problem is that I want to know of what magnitude the risk is likely to be and at what stage is it likely to arise. I don't want to be taken by surprise.


BTW, do you think the adcoms will be willing to take the trouble of answering a few questions related to the application process?

Regards

Well, I'd just say that I want to know what I'm getting into.

I don't want there to be a day when I'm sitting in the US after completing the MBA, having a $180k loan on my back, unable to secure a job, faced with the prospect of returning back home and saying to myself "Why the hell did I not think of this before?"

or

In the middle of the B-School/Visa application process, having already paid the Rs 70-80k in applications and suddenly the question "Show your financial support to finance the first/second/both years of your MBA education." pops up and I'm wondering, "Oh hell! Why didn't I think of this earlier?"

It's good to be in the know.

Regards.

Top 20 MBA schools give you loans without cosigner. That's why getting in difficult.

Every Indian who gets a MBA thinks about these questions. I can assure you will never get 100% satisfactory answers for these questions. I don't know any one from Top 20 MBA coming back to India with the heavy loans. Do you ? At the end of the day its a risk. Return is directly porpotional to risk.

buddyforall Says

Dude these questions come only when you get an ADMIT from a Top school. Believe me its not that easy. The question is how badly do you want to get an MBA ? Are you ready to stay in US for 5 years to payback the loans. If you get in Top 20 MBA, loan will not be a big issue. Don't let these reasons demotivate you from applying in the first place. Remember you are not the 1 st person to get a US MBA and you won't be the last.

Well, I'd just say that I want to know what I'm getting into.

I don't want there to be a day when I'm sitting in the US after completing the MBA, having a $180k loan on my back, unable to secure a job, faced with the prospect of returning back home and saying to myself "Why the hell did I not think of this before?"

or

In the middle of the B-School/Visa application process, having already paid the Rs 70-80k in applications and suddenly the question "Show your financial support to finance the first/second/both years of your MBA education." pops up and I'm wondering, "Oh hell! Why didn't I think of this earlier?"

It's good to be in the know.

Regards.

Hi puys,
So here's what I've been able to construe so far:
The US MBA from a top B-School will cost around $180,000 over a period of two years.
Now the question:
What fraction of this amount of $160,000 can the B-school get me (an international student) a loan for?
Will the loan be requiring a US/non-US co-signer?
Will I be required to present proof of a particular amount of liquid assets at the time of application?
Can I, being an international student, hope to manage some scholarship/fellowship? Of how much amount?

Dude these questions come only when you get an ADMIT from a Top school. Believe me its not that easy. The question is how badly do you want to get an MBA ? Are you ready to stay in US for 5 years to payback the loans. If you get in Top 20 MBA, loan will not be a big issue. Don't let these reasons demotivate you from applying in the first place. Remember you are not the 1 st person to get a US MBA and you won't be the last.

Hello Sahini Prashant
As per my expirience, you need to show the proof of assets amounting to your first year fees inorder to get an I 20 from the university. Without completing this formality you cannot get an I 20 from the US University.

Are you sure about that?

I'm thinking of mailing some B-Schools' adcoms and asking them straightaway. I hope they won't mind answering.

Regards

Hi. Thanks for the reply. I need some clarification on one aspect, actually.

Actually I have a bitter experience from the past.

About two years back, I had applied for MS to a few universities in the US and only after paying the application fee, did I come to know that they wanted a proof of a particular amount of liquid assets from me.

I didn't have the assets so couldn't pursue the case any further even after paying the application fee. I don't want to make that mistake again.

That's why I want to make sure that I know whether, during the application process, I'll be asked to present proof of having a certain amount of assets with me or not. For e.g., enough liquid assets to finance the first year of my MBA program, say!

Also, does any such requirement arise during the visa application process?

Regards.

Hello Sahini Prashant
As per my expirience, you need to show the proof of assets amounting to your first year fees inorder to get an I 20 from the university. Without completing this formality you cannot get an I 20 from the US University.

sahniprashant Says

Hi. Just one question. These expenses that you've listed (20+36 = 56lacs) are for one year or for two years?

Hello Sahni Prashant,

The total fee is 36 lakhs for two years (This is after taking into account a scholarship of USD 12,000 for the first year and an Instate tution fee for the 2nd year with a graduate assistantship of USD 4000). Out of which I am applying for a loan of 20 lakhs.

Hi. Thanks for the reply. I need some clarification on one aspect, actually.

Actually I have a bitter experience from the past.

About two years back, I had applied for MS to a few universities in the US and only after paying the application fee, did I come to know that they wanted a proof of a particular amount of liquid assets from me.

I didn't have the assets so couldn't pursue the case any further even after paying the application fee. I don't want to make that mistake again.

That's why I want to make sure that I know whether, during the application process, I'll be asked to present proof of having a certain amount of assets with me or not. For e.g., enough liquid assets to finance the first year of my MBA program, say!

Also, does any such requirement arise during the visa application process?

Regards.

What fraction of this amount of $160,000 can the B-school get me (an international student) a loan for?
Will the loan be requiring a US/non-US co-signer?
Will I be required to present proof of a particular amount of liquid assets at the time of application?
Can I, being an international student, hope to manage some scholarship/fellowship? Of how much amount?

Depending on the school-- 20 to 100%
No, the loan is provided by the school.
Not sure. I think you have to make a separate request for loan once you are offered admission.
You can, but it also depends on your profile and the college. Strong profiles at lower-ranked college get offered a fee-waiver as long as they maintain their GPA.
High GMAT and strong profile will obviously help you a lot.

Hi puys,

So here's what I've been able to construe so far:

The US MBA from a top B-School will cost around $180,000 over a period of two years.

Now the question:

What fraction of this amount of $160,000 can the B-school get me (an international student) a loan for?

Will the loan be requiring a US/non-US co-signer?

Will I be required to present proof of a particular amount of liquid assets at the time of application?

Can I, being an international student, hope to manage some scholarship/fellowship? Of how much amount?

Hello,

I have admits from the school mentioned below along with scholarships.

1. USC Darla Moore School of Business
2. W&M; Mason School of Business
3. Case Reserve Western University Weatherhead School of Management
4. University of Missourie-Robert J. Trulaske College of Business-Crosby MBA program.

After considering the scholarship amount, I will be spending around INR 36 Lakhs to pursue the MBA program. Moreover, I am planning to take a loan of INR 20 lakhs.

Given the current job situaiton in US is it worth it to spend this kind of money on a MBA program form the schools listed above??

With a loan of INR 20 Lakhs, I would end up paying a EMI (Monthly Installment) of approx. INR 65,000 for a period of 3 years to payback the loan.

It would not be possible to pay off such a huge loan by working in India, so it would be very necessary for me to secure a job in US.

In current economic situation would it be advisable to go ahead with the admits.

Please advice.

Hi. Just one question. These expenses that you've listed (20+36 = 56lacs) are for one year or for two years?

Hi All,

I am Mithilesh and looking for an MBA from US university. Can anybody please tell me various options of getting loans for financing MBA?

hello every1..i have just joined this forum and hope for some good and helpful advice..as i am very confused at this stage :{..i am currently pursuing my B.E. in computer engiineering from mumbai university..i have also secured a job in an IT MNC and plan to work der for 2 years.(as most univ in da US need job exp)
I want to pursue my M.B.A in the U.S. after having worked for about two years.
My first question is(and i think this doubt crops up in evry persons mind who's pursuing an Mba abroad).Is it really worth doin an mba in the US rather den in India.(i have no financial issues,its just dat der shd be enuf returns ).
Secondly,i was confused between da field to choose. mba in international buisness or mba in operations.

can som1 guide me wid the right choice of field and clear my oder doubts.and plz don say dat concentrate on ur .E. for now as i have already started preparing for GMAT.

Hello,

I have admits from the school mentioned below along with scholarships.

1. USC Darla Moore School of Business
2. W&M; Mason School of Business
3. Case Reserve Western University Weatherhead School of Management
4. University of Missourie-Robert J. Trulaske College of Business-Crosby MBA program.

After considering the scholarship amount, I will be spending around INR 36 Lakhs to pursue the MBA program. Moreover, I am planning to take a loan of INR 20 lakhs.

Given the current job situaiton in US is it worth it to spend this kind of money on a MBA program form the schools listed above??

With a loan of INR 20 Lakhs, I would end up paying a EMI (Monthly Installment) of approx. INR 65,000 for a period of 3 years to payback the loan.

It would not be possible to pay off such a huge loan by working in India, so it would be very necessary for me to secure a job in US.

In current economic situation would it be advisable to go ahead with the admits.

Please advice.

hats off to your determination !!!!