Dude...focus on the GMAT and get a decent score (700+ ideal!).

Apply to the best possible schools (including 1 or 2 backups) based on your profile and aspirations. Once you get an admit, start thinking about loans/ repayments.

-Bhavya (MBA '09 Booth)

Hi . I have decided to sit for GMAT this year . I have a work experience of 3+ yrs in IT(which mostly here are) and have a fairly good academic record with 81% in U.G .

But after reading your posts on loans and repayment of loans . I think I need to rethink on sitting for GMAT. Please help me should i think about loans and repayment after i get the SCORE or even before it. .

Please help me . waiting for your reply

Hi . I have decided to sit for GMAT this year . I have a work experience of 3+ yrs in IT(which mostly here are) and have a fairly good academic record with 81% in U.G .

But after reading your posts on loans and repayment of loans . I think I need to rethink on sitting for GMAT. Please help me should i think about loans and repayment after i get the SCORE or even before it. .

Please help me . waiting for your reply

My 2 cents:

Focus on your GMAT now and get a 700+ score. After that work hard on your applications.

If you can make it to top 20 US business schools, you should not worry about the financial burden.

-Bhavya (MBA '09 Chicago Booth)

Hi all.

I shall be taking the GMAT during the first week of June this year. I want to know if spending so much on a US MBA is worth it or not. For me, personally, a US MBA will involve a considerable financial burden since I'll have to opt for a loan for the most part of it.

I intend to pursue the US MBA only if admitted to one of the top B-Schools. I look forward to working in the US after graduating from the B-School in order to pa back the debt and also to acquire some international work-ex. I have little idea as to how the job scene currently is for international MBA students in the US and would like to have some insight on that as well.

Could anyone please do the cost-benefit analysis for me? I'm really so confused right now.

Thanks in advance.

Hi all.

I shall be taking the GMAT during the first week of June this year. I want to know if spending so much on a US MBA is worth it or not. For me, personally, a US MBA will involve a considerable financial burden since I'll have to opt for a loan for the most part of it.

I intend to pursue the US MBA only if admitted to one of the top B-Schools. I look forward to working in the US after graduating from the B-School in order to pa back the debt and also to acquire some international work-ex. I have little idea as to how the job scene currently is for international MBA students in the US and would like to have some insight on that as well.

Could anyone please do the cost-benefit analysis for me? I'm really so confused right now.

Thanks in advance.

I just posted on this topic : http://www.pagalguy.com/forum/international-indian-mba-schools-accepting/14956-phoren-b-school-assistance-desk-442.html#post2440407

- TP
bizschoolprep@gmail.com

Hi all.

I shall be taking the GMAT during the first week of June this year. I want to know if spending so much on a US MBA is worth it or not. For me, personally, a US MBA will involve a considerable financial burden since I'll have to opt for a loan for the most part of it.

I intend to pursue the US MBA only if admitted to one of the top B-Schools. I look forward to working in the US after graduating from the B-School in order to pa back the debt and also to acquire some international work-ex. I have little idea as to how the job scene currently is for international MBA students in the US and would like to have some insight on that as well.

Could anyone please do the cost-benefit analysis for me? I'm really so confused right now.

Thanks in advance.

I need lodging in the USA. I need to know what can help me save on lodging while i'm abroad ?

HBS/W/Chi/Col/Stern/Sloan

v2013 Says

In India, reputation wise which US schools is LSE comparable to in Finance? Thanks

It is worth it if you know you want to get into specific finance role post school. If you want to have keep more options open you should go for MBA program.

-Bhavya (MBA '09 Chicago Booth)

In India, reputation wise which US schools is LSE comparable to in Finance? Thanks

It is worth it if you know what you want to get into (some specific finance role) post school. If you want to keep more options open you should go for MBA program.

-Bhavya (MBA '09 Chicago Booth)

v2013 Says

Guys I wanted to ask a similar question. Want to study a masters at LSE in Finance (2 years) so would have to take a 35 000 pound loan. Is it worth it?

Guys I wanted to ask a similar question. Want to study a masters at LSE in Finance (2 years) so would have to take a 35 000 pound loan. Is it worth it?

Good Luck. Let me know if you need any help.

-Bhavya (MBA '09 Chicago Booth)

Sniper2 Says

Thank you Bhavya Ji. I am working on my applications now

I wish to go in management consulting post MBA. I have got a B-school admit How to improve my profile during the time before joining the B school? Any suggestions friends?

Thank you Bhavya Ji. I am working on my applications now

Hi,

In my experience I have seen many folks with similar profile to yours (including GMAT around 690) in Columbia, NYU, Wharton and Booth.

GMAT is just one aspect of the application so my advise would be focus on the rest of the application. Make sure you have the right story and that it is communicated well in your essays and resume.

Good Luck!

-Bhavya (MBA '09 Chicago Booth)

Guys,

Please evaluate my chances for a full time MBA program in Columbia, NYU Stern, Yale or Wharton. I am 27 years old professional (not US permanent resident)

GRE: 590 Verbal + 790 Quant (GRE/GMAT comparison table puts this score as equivalent to 690 in GMAT. I know this is not how the adcoms might compare but just to give idea to many of us I am using this tool)

Work Exp: Currently working in Hitachi Corporation in California since 4.5 years as Engineer specializing in semiconductors and advanced materials for future memories. I am not where close to IT.

M.S.: University of Alabama (Materials Engineering)
GPA: 3.67/4.0
Won the grad school fellowship award, internships, thesis, papers

B.Tech: NIT Trichy (Metallurgical Engineering)
69%

12th & 10th: 75 %

Please tell me if I have a chance any of the schools I mentioned for a full time course.

Has anyone opted for loans from Paras Educational Foundation? Please reply in case you have ever used Paras..

Not sure about the reliability. mail to 1984.suman@gmail.com

Private Equity

Thank you for the suggestion. I believe I need to make a stronger case by improving my GMAT. Please explain me what is PE/VC? VC - Venture capital? What is PE? You are right I need to figure out why I need go to B-School.

I have a query on certificate if finances form. I came across smith- maryland certificate of finances form. We are not allowed to show loans as a source of funding. Just wanted to know following things

1) Is this practive the same among all schools. Can't we show loans as a source of funding

2) For a person like me who aims to fund MBA completly through loans, what are the options in filling up this form.

thanks

The question is what kind of a career possibilities do you look for after MBA and how your past experience can be of help in this! I believe given your Engg experience, you might be beter of applying to b-schools which are favourably inclined towards engg types- Stanford, Berkeley, MIT etc.
You can also aspire for jobs in PE/VC.
In any case 690 gmat score is not competitive at any of the schools mentioned. You need to improve the score a bit more. Among the most competitive candidates, MS may not give much of an additional advantage. There are so many applicants with excellent qualifications and experience, wanting to get in!

I appreciate your reply. I think 590 of Verbal does lie between 75-80 percentile.

I might be stupid to ask this but you don't think already having a MS with experience in research & development not related to IT makes a difference? May be an advantage for me since the school wants to diversify its class?

If you really believe the chance to get into Columbia, Yale or Stern is too low I may not consider to apply. These are only 3 schools I have in mind. So please let me know.

I appreciate your reply. I think 590 of Verbal does lie between 75-80 percentile.

I might be stupid to ask this but you don't think already having a MS with experience in research & development not related to IT makes a difference? May be an advantage for me since the school wants to diversify its class?

If you really believe the chance to get into Columbia, Yale or Stern is too low I may not consider to apply. These are only 3 schools I have in mind. So please let me know.

You need to improve your verbal score.
These top schools generally look for 75th to 80%ile at least. GMAT score of 720-730 at least would be needed for your application to be competetive at these schools. In addition, of course you need some other wow factor.
If you have done some thing extra-ordinary, then even the current GRE score might be ok.

Guys,

Please evaluate my chances for a full time MBA program in Columbia, NYU Stern, Yale or Wharton. I am 27 years old professional (not US permanent resident)

GRE: 590 Verbal + 790 Quant (GRE/GMAT comparison table puts this score as equivalent to 690 in GMAT. I know this is not how the adcoms might compare but just to give idea to many of us I am using this tool)

Work Exp: Currently working in Hitachi Corporation in California since 4.5 years as Engineer specializing in semiconductors and advanced materials for future memories. I am not where close to IT.

M.S.: University of Alabama (Materials Engineering)
GPA: 3.67/4.0
Won the grad school fellowship award, internships, thesis, papers

B.Tech: NIT Trichy (Metallurgical Engineering)
69%

12th & 10th: 75 %

Please tell me if I have a chance any of the schools I mentioned for a full time course.

Guys,

Please evaluate my chances for a full time MBA program in Columbia, NYU Stern, Yale or Wharton. I am 27 years old professional (not US permanent resident)

GRE: 590 Verbal + 790 Quant (GRE/GMAT comparison table puts this score as equivalent to 690 in GMAT. I know this is not how the adcoms might compare but just to give idea to many of us I am using this tool)

Work Exp: Currently working in Hitachi Corporation in California since 4.5 years as Engineer specializing in semiconductors and advanced materials for future memories. I am not where close to IT.

M.S.: University of Alabama (Materials Engineering)
GPA: 3.67/4.0
Won the grad school fellowship award, internships, thesis, papers

B.Tech: NIT Trichy (Metallurgical Engineering)
69%

12th & 10th: 75 %

Please tell me if I have a chance any of the schools I mentioned for a full time course.

By the time i go out i would have had atleast 3 years of work experience.I am currently doing my internship in a top mulitnational and need to compulsorily complete 3 years of them.Plus i intend to work for 3 years post qualification so effectively it will be 6 years of quality work experience , so dont tell me your assumptions and life history, keep it in your head im sure it will make you feel better.(In short i have my future planned)
And i dont intend to go to USA anyways there are many other places to make a mark , i dont know why some indian students think that USA and UK are the only golden mines to be dug , thats very narrow minded of them

Its great to have dreams but make sure you test yours before taking that huge jump and investing so much money. Planned MBA can do wonders for you but an unplanned MBA will land you up with a lot of expenditure and may be a very less ROI.Maybe with time your aspirations would change maybe they wont but I am sure with time your thinking would be more responsive rather than reactive
Everyone here wants to help

Well, no decent Business School in USA will take you if you do not have minimum two years work experience. So if you want to study in USA, you will have to first get 4-5 years work experience. This will give you the opportunity to mature as a person and to fully understand the extent to which you are going to ruin your father's retirement. No company in USA would hire you anyway, so you would just return home after losing all your father's money.
If you are so smart, why don't you take admission into IIM-A,B,C. That should give you a good reality check.

By the time i go out i would have had atleast 3 years of work experience.I am currently doing my internship in a top mulitnational and need to compulsorily complete 3 years of them.Plus i intend to work for 3 years post qualification so effectively it will be 6 years of quality work experience , so dont tell me your assumptions and life history, keep it in your head im sure it will make you feel better.(In short i have my future planned)
And i dont intend to go to USA anyways there are many other places to make a mark , i dont know why some indian students think that USA and UK are the only golden mines to be dug , thats very narrow minded of them

All the best dude... I would pray that life works exactly as planned for u... I surely hasn't for 99% people on this forum... Let's c what you feel about ur posts 6 years from now... Peace...

Well, no decent Business School in USA will take you if you do not have minimum two years work experience. So if you want to study in USA, you will have to first get 4-5 years work experience. This will give you the opportunity to mature as a person and to fully understand the extent to which you are going to ruin your father's retirement. No company in USA would hire you anyway, so you would just return home after losing all your father's money.
If you are so smart, why don't you take admission into IIM-A,B,C. That should give you a good reality check.

By the time i go out i would have had atleast 3 years of work experience.I am currently doing my internship in a top mulitnational and need to compulsorily complete 3 years of them.Plus i intend to work for 3 years post qualification so effectively it will be 6 years of quality work experience , so dont tell me your assumptions and life history, keep it in your head im sure it will make you feel better.(In short i have my future planned)
And i dont intend to go to USA anyways there are many other places to make a mark , i dont know why some indian students think that USA and UK are the only golden mines to be dug , thats very narrow minded of them

exactly what i wanted to say... but ended up being un-polite :(

Well, no decent Business School in USA will take you if you do not have minimum two years work experience. So if you want to study in USA, you will have to first get 4-5 years work experience. This will give you the opportunity to mature as a person and to fully understand the extent to which you are going to ruin your father's retirement. No company in USA would hire you anyway, so you would just return home after losing all your father's money.
If you are so smart, why don't you take admission into IIM-A,B,C. That should give you a good reality check.

Well, no decent Business School in USA will take you if you do not have minimum two years work experience. So if you want to study in USA, you will have to first get 4-5 years work experience. This will give you the opportunity to mature as a person and to fully understand the extent to which you are going to ruin your father's retirement. No company in USA would hire you anyway, so you would just return home after losing all your father's money.
If you are so smart, why don't you take admission into IIM-A,B,C. That should give you a good reality check.

No harm.
Wish you best of luck in your endeavours.

Van Dijk Says

so? any harm in that?

so? any harm in that?

Van Dijk Says

guessed what , care to elaborate

that u are less than 20 years old...

guessed what , care to elaborate

Plus i have alot of time , im pretty young (not even 20) so i'll contribute from my side too from my earnings

I should have guessed it from ur post

The main idea behind my post was that the burden of loan wont be on my head after my PG
And i wont be taking ALL his life savings but certainly a fair chunk of it say (1/3rd).
Plus i will be helping him invest some of it for better returns and more money (mutual finds).
I do intend to pay him back and he isnt a Pvt bank who pesters you all the time for money
Plus i have alot of time , im pretty young (not even 20) so i'll contribute from my side too from my earnings

Van Dijk,
I hope that you get into a good school and finally a good job in USA or Europe, post-MBA; even if you don't take any loan, you will be investing your father's life time savings to study MBA abroad.
I would have a lot of anxiety about the post-MBA pay-offs, if I were to be in a similar situation.

I wish you good luck.

Ok heres what me and my father have planned.We both have a great relationship (not saying that i have a bad one with other people in my family but we both just have a telepathic understanding)

My dad is an IIT grad, BTech Civil from kanpur(1982 batch) and has been working in a Govt Company (dont worry hes not corrupt , if thats what your stereotpying govt employees to be) for the past 27 years and in 5 years he will retire which means it will be 32 years of work ex.
If you know about contributions to provident fund and gratuity(a pay off for an employee who is leaving/retiring and has been in service for more than 5 years) then great. Since he has contributing to this fund right from the first day at work he has now amassed 30 lacs, yes 30 lacs ( 15 contributed by company and 15 through his own salary) plus he will get a gratuity of say around 20-25 lakhs. So in total he will make half a crore when leaves.
He has promised to fullfill my ambition to go abroad with this money.
Secondly i am going to help him invest some of this money in various investment schemes for more money as i am going to be an expert in this field soon(lol i have to be as i am studying to be a Chartered Accountant)
Plus i will save some of my salary when i work and pool in those funds.

With this planning we can finance my MBA abroad without taking any loan whatsoever.The pressure of bank loan probably will be non-existent.
So loyalty(working at one company for so many years) is an asset and will always be, something which isnt valued much these days as people change their companies faster than their under-garments.
So hopefully i can laugh at people (from the inside, only) who are pressurized by US loan repayment after completing their MBA

Ok heres what me and my father have planned.We both have a great relationship (not saying that i have a bad one with other people in my family but we both just have a telepathic understanding)

My dad is an IIT grad, BTech Civil from kanpur(1982 batch) and has been working in a Govt Company (dont worry hes not corrupt , if thats what your stereotpying govt employees to be) for the past 27 years and in 5 years he will retire which means it will be 32 years of work ex.
If you know about contributions to provident fund and gratuity(a pay off for an employee who is leaving/retiring and has been in service for more than 5 years) then great. Since he has contributing to this fund right from the first day at work he has now amassed 30 lacs, yes 30 lacs ( 15 contributed by company and 15 through his own salary) plus he will get a gratuity of say around 20-25 lakhs. So in total he will make half a crore when leaves.
He has promised to fullfill my ambition to go abroad with this money.
Secondly i am going to help him invest some of this money in various investment schemes for more money as i am going to be an expert in this field soon(lol i have to be as i am studying to be a Chartered Accountant)
Plus i will save some of my salary when i work and pool in those funds.

With this planning we can finance my MBA abroad without taking any loan whatsoever.The pressure of bank loan probably will be non-existent.
So loyalty(working at one company for so many years) is an asset and will always be, something which isnt valued much these days as people change their companies faster than their under-garments.
So hopefully i can laugh at people (from the inside, only) who are pressurized by US loan repayment after completing their MBA

snaval1 Says

so is there no way by which a guy who is medicore means a 7 point some guy who has no cash n dreams 2 study at US fr MBA.....n has barely 1 yr experince in a reputed firm????

If studying in the US is your only dream, then there will be schools who'd be willing to take you in.

But living the 'American dream' after graduation will be a completely different story. See what you are expecting from the degree and then take a call.

snaval1 Says

so is there no way by which a guy who is medicore means a 7 point some guy who has no cash n dreams 2 study at US fr MBA.....n has barely 1 yr experince in a reputed firm????

1 year is too low for US MBA, dude, how will you justify why you want to do an MBA? but if you have stupendous community and extra-curriculars at undergrad, then you can form a solid case.

so is there no way by which a guy who is medicore means a 7 point some guy who has no cash n dreams 2 study at US fr MBA.....n has barely 1 yr experince in a reputed firm????

Lodging for Students Going Abroad
For this years intake,I came across this link for students heading abroad.They are giving students a months free stay for anyone who takes part in the contest.Unfortunately,I'll only be able to go after 2 years due to lack of work-ex.Check Cox & Kings tour operators, india tours, luxury tours, flights, hotels, cars, holidays, cruises, rail, incentives, franchisee

Hi All..

Regarding these international student loans my question is whether these loans can be showed as funding proof for obtaining the visa?

As far I've researched you can apply for these loans only after you get the student visa. And in some cases you can apply before (ex. Ross RSB-UMCU loan) and show that for I 20 as well. When I spoke to a consular they said that you should not show the international student loan as funding proof and that you shoudl show fund on your own(parents or self). Coz the ques will be if we are taking loans in the US we are basically expetcing to work there and pay it off.

Can anyone who has taken these loans shed light on this matter.
Thanks in advance.

I understand this is probably not the right place to ask this question, but could not find a suitable forum.

The thing is that my university (UPTU - Uttar Pradesh Technical University) provides the engg. score in %... I need to convert it to 4 point GPA scale for b-schools... Can anyone point me to how to get this done?

Hi,

I just happen to see this - Higher Education In UK, Education In UK Universities, Admission In UK Universities, Higher Education In UK, Education In UK Universities, Admission In UK Universities, Higher Education In UK, Admission In UK Universities, Education In UK Universities

They claim to grant loans upto 60 lacs....any idea about this firm??

-Manish

well considering my experience I am considering the Fellows programs at MIT and Stanford. These programs are for one year and more expensive than typical mba programs in US/UK.

1) could anyone provide some inputs on how much max loan can one get from US banks. if my tuition and living etc is a total of $150,000 ~ Rs.70 lacs, how much will the banks fund in US. considering that i will not have a co-signor.

2) what if i need 100% funding.. does that happen.?

3) considering i land into a $100k job in US post the mba, how much is repayment period ?

as far as i know, banks in India will provide a max of 20-25 lacs so what about the rest of the funding.? i may have missed it in one of the prev posts but will appreciate if someone can give some inputs here.

thx.

Adding to ma013851 I also wish to know are their loan rates more than the loans which we may get from U.S.?

Hi,

Has anyone considered global student loan corporation to finance his/her MBA.

I wanted to know what is the upper limit for the loan amount and how does the process look like?

-Manish

Hey Baccardisprite

Thanks a tonne dude... That was really informative and encouraging... I have already started working on my essays...

-Gaurav

Hi everyone,

I am an IT Professional with around 4 years of experience and a 770 / 5.5 in GMAT... good academics all around and okayish extra-curricular as well...

Well just like many of us from the typical middle class, I am very confused on how to finance my studies if I were to aim for a good B-School in US... as such, after some searching, i came upon this thread... But as of now I am unable to find definitive answers... Considering I need to spend $130k to $150k total in 2 years (that is 65-75 lakh INR), how should I plan my financing strategy.

1) I can try to get a 20 lakh student loan (guess HDFC provides it)
2) I can raise up to 10-12 lakh from my and dad's savings
3) The remainder is a big uncertainty :oops:

So a few questions:
1) Considering that loan in India is expensive, is it even worthwhile to go for it?
2) Is it possible to get loan in US without a co-signer? I don't know anyone in US who can be the co-signer
3) I read that a few schools give substantial grants. Is it a good option to aim for?
4) Does taking loan from abroad from bank or grant from school, create any issues in applying for visa?
5) On a slightly unrelated note, what do i need to keep in mind to say or not-to-say when going for a visa interview?

I would really appreciate help in this regard .

Thanks.
Gaurav

Gaurav, apologies for intervening in your conversation.

The best places to research the information you seek are:

- websites of the top schools (read them thoroughly first),
- direct contact with admissions committees (they're normally nice & responsive) with specific questions that are not answered by the FAQ section,
- where possible talking to Alumni who would either provide you with the right information or point you in the right direction
- Forums like Wharton MBA - Interact - go through the S2S forums, they provide a wealth of information including financing options for Internationals; and there's absolutely no restrictions on discussing schools besides Wharton on the S2S forums.

Some economic context for everyone's benefit - A combination of economic crisis + US immigration & employment policy has made it more challenging for International Students to get so-called co-signor free loans. A co-signor free loan for an International student without a credit history in the US means the school / university became the guarantor (i.e your co-signor) for the loan provided by the bank to the international student to pay his / her tuition.

The guarantees from the school are / were back up by a strong financial position driven by endowments to the school / university and the "assumption" that most / all of the students (US or International) would get jobs (US or International) and pay those loans back. A deteriorating economy meant that universities / schools either lost their endowment streams or saw a severe reduction + graduates were not really getting jobs. US employment policy (chiefly H1B reductions) means International Students would be most affected.

The best applicants with strong profiles (academic, professional and other) and stronger rationale (essays & recommendations) to apply for an MBA at the time to a certain school will find that if the school wants them, then the school will (partially) take on the offer to fund the student, either in the form of scholarships or fellowships and assistantships.

So while it's advisable & important to seek the information above, first & foremost do concentrate on writing the best applications you can for the schools you believe will offer you the best possibility to chase the career you want! Hopefully you have a clear idea by now as to what you want to do after an MBA...

Good Luck
Baccardisprite

@Gaurav - OK I did not know that there was a limit. I was thinking the bank would match close to the tuition fee of the Business school.

Arey but the max. loan that you can get for education is 20 lakh... which means around $40000... but an MBA would cost minimum $100000 even if i get some scholarship (I don't have a fundoo profile that someone would give me extraordinary scholarship)...

The max. money that I can raise from my savings is 10-12 lakh more... The deficit is still big.

I am wondering how people of same financial status as me afford such education

-Gaurav

mba graduates from indian state universities like mumbai and pune etc have job opportunities abroad ?
if yes than in which countries ?
my previous edu is B.com 70 %

@Gaurav
Why can't you get a loan from India? Everybody who comes here does it.

Arey but the max. loan that you can get for education is 20 lakh... which means around $40000... but an MBA would cost minimum $100000 even if i get some scholarship (I don't have a fundoo profile that someone would give me extraordinary scholarship)...

The max. money that I can raise from my savings is 10-12 lakh more... The deficit is still big.

I am wondering how people of same financial status as me afford such education

-Gaurav

@Gaurav

Thanks man! I always wanted to be a sniper but for now, I would be happy to get into B-School. Speaking of your question, you do bring up an interesting point here. For me, I would try to get loan from the B-School or from a US bank since I have a good credit history. In that case, I would be in trouble for my visa interview too. I am on H1B visa now. But for folks living in India, I don't think it is easy to get loan from the US or B-School itself. You may want to get in touch with B-Schools you want to apply. Why can't you get a loan from India? Everybody who comes here does it.

Hey thanks buddy. By the way I really like the name of ur profile "Sniper" :D

The reason why i posted that Visa question is because I have heard that in case you tell them honestly that the college is granting you some loan, it naturally means that u would need to work in US for 3-5 years at least... and this is what the Visa personnel try to prevent to the max. possible... just what I have heard... I would like you guys to tell me if this is true and if yes, what is the work around for this?

Also, are there schools that give grants without co-signer? I would doubt there would be any school doing so.

Regards,
Gaurav

I am trying to apply for B-School this year. I am living in US since 6 years and working in technology sector so I can tell you something about loans other members here can guide you about B-Schools.

Your 1st question is something that nobody can answer (most likely not even yourself). But rest of your questions are not very difficult. I don't think you can get a loan in a US bank without a co-signer. They need to know someone's credit history. Yes, you can try to get a loan from the B-School itself, but I am not sure if they need you to be residing in the US for that, they might also need credit score and all. As long as you can show finance for your course, it doesn't matter where it is from for the visa interview. For visa interview, it is recommended to give honest answers as to why you are going and what are you expecting to get out of your MBA. They are not going to intensively question your background, you have the finance, you have admission, good GMAT, they will give you visa. Visa not a problem for you.

Hey thanks buddy. By the way I really like the name of ur profile "Sniper" :D

The reason why i posted that Visa question is because I have heard that in case you tell them honestly that the college is granting you some loan, it naturally means that u would need to work in US for 3-5 years at least... and this is what the Visa personnel try to prevent to the max. possible... just what I have heard... I would like you guys to tell me if this is true and if yes, what is the work around for this?

Also, are there schools that give grants without co-signer? I would doubt there would be any school doing so.

Regards,
Gaurav

I am trying to apply for B-School this year. I am living in US since 6 years and working in technology sector so I can tell you something about loans other members here can guide you about B-Schools.

Your 1st question is something that nobody can answer (most likely not even yourself). But rest of your questions are not very difficult. I don't think you can get a loan in a US bank without a co-signer. They need to know someone's credit history. Yes, you can try to get a loan from the B-School itself, but I am not sure if they need you to be residing in the US for that, they might also need credit score and all. As long as you can show finance for your course, it doesn't matter where it is from for the visa interview. For visa interview, it is recommended to give honest answers as to why you are going and what are you expecting to get out of your MBA. They are not going to intensively question your background, you have the finance, you have admission, good GMAT, they will give you visa. Visa not a problem for you.

Hi everyone,

I am an IT Professional with around 4 years of experience and a 770 / 5.5 in GMAT... good academics all around and okayish extra-curricular as well...

Well just like many of us from the typical middle class, I am very confused on how to finance my studies if I were to aim for a good B-School in US... as such, after some searching, i came upon this thread... But as of now I am unable to find definitive answers... Considering I need to spend $130k to $150k total in 2 years (that is 65-75 lakh INR), how should I plan my financing strategy.

1) I can try to get a 20 lakh student loan (guess HDFC provides it)
2) I can raise up to 10-12 lakh from my and dad's savings
3) The remainder is a big uncertainty :oops:

So a few questions:
1) Considering that loan in India is expensive, is it even worthwhile to go for it?
2) Is it possible to get loan in US without a co-signer? I don't know anyone in US who can be the co-signer
3) I read that a few schools give substantial grants. Is it a good option to aim for?
4) Does taking loan from abroad from bank or grant from school, create any issues in applying for visa?
5) On a slightly unrelated note, what do i need to keep in mind to say or not-to-say when going for a visa interview?

I would really appreciate help in this regard .

Thanks.
Gaurav

Hi everyone,

I am an IT Professional with around 4 years of experience and a 770 / 5.5 in GMAT... good academics all around and okayish extra-curricular as well...

Well just like many of us from the typical middle class, I am very confused on how to finance my studies if I were to aim for a good B-School in US... as such, after some searching, i came upon this thread... But as of now I am unable to find definitive answers... Considering I need to spend $130k to $150k total in 2 years (that is 65-75 lakh INR), how should I plan my financing strategy.

1) I can try to get a 20 lakh student loan (guess HDFC provides it)
2) I can raise up to 10-12 lakh from my and dad's savings
3) The remainder is a big uncertainty :oops:

So a few questions:
1) Considering that loan in India is expensive, is it even worthwhile to go for it?
2) Is it possible to get loan in US without a co-signer? I don't know anyone in US who can be the co-signer
3) I read that a few schools give substantial grants. Is it a good option to aim for?
4) Does taking loan from abroad from bank or grant from school, create any issues in applying for visa?
5) On a slightly unrelated note, what do i need to keep in mind to say or not-to-say when going for a visa interview?

I would really appreciate help in this regard .

Thanks.
Gaurav

I'm surprised nobody talked about company sponsorship if you already work for a couple of years. Do anyone benefit ?

Like I said on a post on INSEAD (not US MBA I know), the earlier you apply, the more chance you have for a scholarship. I mean you apply in round 1 , you're among the 1st to ask a scholarship. You apply in round 3 , lots of scholarship have been given away. It's worth waiting a another intake (6 months) instead of taking a loan on 10 years.

Indian people, is there any foreign companies paying US standard salaries if you come back to your country ?

Sniper2 Says

Guys, I need your advice. I wish to apply for full time MBA programs in the US. Recently many B-Schools are accepting GRE scores as alternative to GMAT. If am more comfortable with submitting GRE scores will that be fine? Do they scale down the GRE to some equivalent score in GMAT? Like if I have 1500 total in GRE, is that good score (when I compare 740 to GMAT)? I have engineering background and several years of experience in hardware industry.

Sure. Go ahead and use the GRE score. If a school is accepting it, it's a legit option to explore.

As far as mapping GRE to GMAT is concerned, let that be the Adcoms concern. There is no 'industry standard' there. If the uncertainty is troubling you, then the best option is to take the GMAT and settle all doubts.

It'll also open up a whole new set of schools which you currently cannot access (if you take the GRE route).

If you have a considerable amount of work-ex, I'd strongly suggest that you take the GMAT and see where you stand.

Guys, I need your advice. I wish to apply for full time MBA programs in the US. Recently many B-Schools are accepting GRE scores as alternative to GMAT. If am more comfortable with submitting GRE scores will that be fine? Do they scale down the GRE to some equivalent score in GMAT? Like if I have 1500 total in GRE, is that good score (when I compare 740 to GMAT)? I have engineering background and several years of experience in hardware industry.

Update. So far 10K H1Bs in Masters quota applied for.

Also everyone knows what the jobs number came out today is I think. If not check CNBC or cnn money.

So, bottomline, international MBA students who ABSOLUTELY NEED a job in the US after graduation to recoup the money spent for it, be very cautious and have a realistic expectation, be mentally prepared to go back home after graduation. Especially true for people who need H1B to work.

Dear Virgil
Someone has asked me to direct MBA Finance specific queries to you. Please take time to respond to the following unanswered query :-

Am quite new to this International MBA section. Please suggest colleges I can target to meet following requirements :

1. Work experience in Finance Risk Management (done with FRM). Presently working as risk management (banking) consultant and would like to carry in the same/ilar field.
2. Scored 690 (Q51:V32) in GMAT, didn't apply anywhere as I guess I need to prepare for GMAT before writing it one more time.
3. Talking of some 5 choices for MBA Finance, two am very inclined to are ISB/HKUST as both are relatively more affordable and finishes in an year itself. Additionally am banking on >80% expenditure to be covered by loan in these cases.
4. Please suggest some more B schools from US as am new to that geography. I am ready to do research from there on.
5.Affordability is definitely an issue with my limited savings and resources. Imagine some one having no major collateral to put, is there still any way out to do MBA abroad.

Good article. Also, if you read through the link below as well - you are likely to have a more complete picture....

How to think about financing? http://virgil-speak.com/?p=94#more-94

This link doesn't work for me.
Can you please check?