A college loan covers cost of tuition, living costs and insurance, flight costs, and other incidentals. Given the wide variety of choices available today, by putting in some effort, it is possible to find the best deal for your needs. Taking an education loan is also a smart move as you don’t need to break your savings and you get hefty tax benefits.
Today, the dream of getting a US degree is no longer something that only the “rich” can dream of. Now many students from middle class backgrounds can also get higher education in the US, without putting a huge financial burden on their parents. This is evident from the recent trends:
- Overall, the number of Indian students going abroad for education increased 256% in 2000-2009
- An estimated 21 million students will be admitted into American universities in Fall 2013
The facts also show that America is the most popular educational destination especially for engineering and business:
- The top three destinations for Indian students going abroad are: #1 America, #2 Europe, #3 Australia
- America dominates, with a lion’s share of over 50% of the students
- The top two streams at American grad schools are Engineering & Business
There is great demand for higher education in the US.