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What up with India?
Hi, I have recently been admitted to Cornell university and Columbia university for a master's in computer science program. The college fees is around 100k USD including living expenses. I will be coming to USA completely on loans. Looking at the current job market and economy is it a good option at the moment? Scholarships - I applied for scholarships but it's just for 10 lakhs out of around 90 lakhs total fees. Have checked all the other scholarship options and none are present. I am personally very interested in doing research but my financial condition will require me to work for some time so eventually I will be looking for jobs in the US. Background - I am a 23 yr old Indian male. I come from a lower middle class family in Northern India. I graduated from top IITs in computer science. My father passed away when I was young and my mother was sole bread winner for the last 17 years. Her salary barely could pay for our living expenses. We live in a 1BHK rented apartment in Bangalore. I have been working in Microsoft for the past 1.5yr which has provided some financial relief. I don't have savings left as all money has gone into paying parents debt (Cleared all debts now). My family does not have any ancestral money or property. I also have a younger sibling currently studying in 12th standard. Having said this , a loan of 80-90 lakhs is not looking good at the face of it as I don't come from a very rich background. Reason for writing the background is to get career as well as financial advice from the more experienced folks here. I guess I just need some fatherly advice :) Thank you!
My 2 cousins have gone UK to study both completed Masters and still searching for jobs from 1 year. But I guess 90lakh loan is something to think about given everything is loan and you have younger brother. My personal advice would be to work for another 2 years in india, I believe microsoft is paying good. Save some money and then move to US when 24 or 26. You will have good chance of landing internship or job while doing masters and also better clarity on what you should do in your life
A BIG NO. Your current job at Microsoft Bangalore is the best thing. You have achieved it, earned it. I know it wasn't easy for you. You worked your ass off to reach here. However, at this point you should not be taking such a huge risk. You are likely to make more money if you stay here in India. Switch and boomerang has worked for a lot of folks.
+1
That's very unfortunate OP. If I were at your place, I would first try to pay off all the ongoing debts, build a financial cushion for at least the time you'll not be earning (2 years). Then think about going to do the masters. Till then try to maximize and make the most out of the current situation by switching jobs and earning more. All the best!
In this market, a big NO. I live in the US and can surely say outsourcing will be the norm and you can lose your job anytime. Come here, only if you want to get a PhD. Family wise, I have the same situation as you. I am returning to India for my mom. Plus in the US, your networking will take a hit if you lose your job. In India, you can build your network in BLR and that can help you pursue startups too( if interested)
No.
NO
Not at all worth it. Stay and grow at your job.
No Dude you work at MS. Coming to US would be easy for you in future. Stay at Ms and learn. Masters did not teach me anything. Job did.
Helll NAW …here in the US there isn’t much value for Masters in Tech roles. I’d still do it if I had someone else paying for it, then the investment would just be my sweat and time ..but not with a loan. The ROI would be negligible …I will reap the same benefits by just working for the next 3-4 years and come out with no debt.
No
Staying at Microsoft and gaining experience is better for your career. An MS CS is nice but certainly isn't necessary to advance. It is too large a risk to go into debt and leave a job in a poor economy.