Is taking a debt worth it to study abroad?
Got into multiple top-20 schools in the US, UK, and Canada. Have some initial liquidity and the plan to pre-pay the whole loan post-graduation. However, my net worth will be blown
I personally don't think so. And this is my personal opinion.
Unless you are not from a good clg in India, and you are going to Harvard, LBS, or Ivy League it doesn't make sense.
angryceo
Stealth
a year ago
Going for undergrad - my top 2 options are Cornell (3cr costs) UofT (1.5cr after scholarship). India pe, there's no mainstream Business School (for UG) just noticed these new curriculums from Masters Union and Scaler SST!
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It depends.
US would be way too expensive but if you land a 200k job straight out of college if you go to an ivy then it's worth it i guess. You would be able to pay back loan in 5ish years. Less if you are able to work during uni part time.
Have you exhausted all possible ways for scholarships? Both Indian and ones provided by uni?
UK would be cheaper but the salaries their are kinda mediocre.
Overall give it more thought. Reach out to recent alumni from your converted universities and clear your doubts.
angryceo
Stealth
a year ago
Don't dream of a 200k job post-UG. The Avg salary of my program at Cornell is $88.4k (before taxes)
UofT, I have a scholarship of 100k. Still, the costs become around 1.5cr.
UK, not going. The salaries are subpar, and I don't like English culture, lmao.
And you are right; it takes around 4-5 years to recover the cost of attendance. Therefore the ROI is shit.
I can pre-pay the loan diluting my portfolios, but that’ll lead to no net worth post-graduation - kinda starting life from scratch.
Now, if I stay in India, I'll have financial independence, but will it be worth compromising uni prestige?
Cafeinatedpragmatist
Stealth
a year ago
Wouldn't I have loved to have a "portfolio" before my UG. Make the most of it man, don't settle.
But then put in the work.
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angryceo
Stealth
a year ago
Most of it, yeah. It'll feel shit to blowup your net worth pre-paying a loan, lol.
Indusplateau
Stealth
a year ago
Don't listen to feedback here. Just go as per your gut.
Top 20 US is not easy to get into. Go work hard and make money 💵, plan for setbacks
angryceo
Stealth
a year ago
Well, everybody has their takeaways. I'm just reevaluating options, let's see!
Indusplateau
Stealth
a year ago
Like the YC meme says, just do it, don't be midwit..
Search for yc midwit meme if you need context
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GreyJiraffe
Stealth
a year ago
No. Not now. Only Australia or Switzerland
angryceo
Stealth
a year ago
Why do you think so? I'm leaning towards Canada, btw (University of Toronto)
GreyJiraffe
Stealth
a year ago
These two countries don't take trash in. Australia has huge natural resources. Switzerland has huge institutional resources. Plus they have creamy immigration. Canada, UK, USA take useless refugees and illegal immigrants. If you become a legal immigrant you will pay for welfare of illegal ones through you're taxes.
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WeepyPast83
Stealth
a year ago
If you go and work hard,your investment might be 100× or 1000x. Talking because my sister went there(NYU/MS in CS,works as SWE in Big Tech).She is living the American Dream.
angryceo
Stealth
a year ago
Mere school ke 90% bacche abroad jaate hai, but they generally don't take a debt. And UG costs more than MS. Long-Term, the ROI is great. But then my primary goal is to build a startup and scale it till IPO (provided we work out, lol)
Indusplateau
Stealth
a year ago
Us startup market is more vibrant than India 🇮🇳 and the cusotmer are more tech savy too..
And if you come back to India to build all the VC will be happy back a us educated person
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AliveYouth71
Stealth
a year ago
No
Do you want to settle/get citizenship in the US after this degree? i heard the green card queue will take 100 years to clear nowadays.
https://ajmeralaw.com/for-indian-students-going-to-usa-in-2022-possible-green-card-wait-time-is-100-years/
Getting H1-B requires you to find employment asap after your degree (with Cornell not an issue) however H1-B extension is still lottery system, not merit based.
From what I've heard, until the rules change its likely impossible for incoming Indian students to ever get a green card following the normal process.
I don't know the full details of visa struggle, so
others please add to this thread if I'm missing something.
angryceo
Stealth
a year ago
I'm certainly aware of that. That's why more aligned to going to UofT - 1.5cr + PR is easy in Canada.
However, I'm uncertain about settling abroad cause my primary goal is to build up a company in India and scale it exponentially.
Furthermore, if I stay in India and go to these new curriculums like Masters Union or whatever, then I have to go to an Ivy for MBA for sure. Otherwise, I won't have college branding.
