The great American Dream is not that great anymore. Tarnished is its picture and jagged the edges. What was once a ticket to a life of possibilities is now nothing more than a gamble – with odds stacked against you. Let us explore is studying in USA still a golden ticket for Indian students or perhaps a foolhardy decision.
Recent changes in immigration rules, cap on international students and the on-going tussle between the government and top universities in the US, all paint a rather grim picture. Experts are saying otherwise. Most of the study abroad consultants continue to promise that this is nothing to be worried about. But the facts are here and a simple calculator will help you understand that studying in USA does not make any economic sense for Indian students anymore.
You need not take my word for it but here are a few facts that one must consider as one begins to work on their study abroad plans. Before I list out the many cons, let’s be very clear about one fact – most of the US Universities still are the leading educational institutions in their domain. They continue to offer quality education and are a great melting pot for innovation and technology.
Having said that, here are 3 reasons why studying in USA (for graduation or post-graduation) is not the best ‘value for money’. More importantly, why – especially for Indian students, a US university may not add any value to their life.
Cap on US Universities
The proposed cap on foreign students in US Universities is a big concern – especially for Indian students. Capped at 15% of total with no more than 5% from one country makes getting into a US University highly competitive. What it means is that a student/ graduate will have to compete more fiercely and work up a great application.
While this benefits the consultants, the fact remains that it is not an easy road. Time, money and effort required will also accordingly increase. Furthermore, the limited seats in college would further increase the consultancy charges, making even the application process far costlier. Already, many study abroad consultants charge between 50K to 100K for assistance in study abroad applications. With the cap in place, this would just go up.
Uncertainty over OPT and H1B Visas
Let’s face it – an American University education cannot be easily funded by a job in an Indian company. Studying in USA is expensive. At the present rate of the USD, a 4-year degree course would cost a person somewhere between ₹1.2 crore to ₹4 crores. Students usually take up education loans and plan to work in USA to pay it off.
However, the proposed OPT Fair Tax Act as well as the visa integrity fees, if implemented, may make getting a job in USA after the completion of degree rather difficult. Furthermore, the H1B visa cap will also act as a deterrent for many companies, reducing the chances of students easily getting jobs in the US market. Even as consultants assure parents that this will not hold in the US courts and the changes will be revoked, the fact remains that Trump Administration will be in power for the next 4 years. Uncertainty of the future cannot be completely discarded.
Furthermore, even though the administration has confirmed H1B fees will not be applicable to students on F1 visa in the country, let us understand that the larger job market will not understand the difference. Sentiments will be shook and there is no guarantee that finding a job will get easier.
Increased Racism
The third and perhaps most volatile reason why studying in USA may not be the best option for your child in the increasing instances of hate crime against minority in America. Recent reports of violence and racial attacks show a changing narrative.
While many would rubbish this claim, the basic group psychology hints at the possibility of a growing dissent towards the Indian and Asian community at large. While the government maintains its stand of being fair and unbiased, the policy changes have painted the Asian communities in the negative light.
The increased polarization of the American society is a matter of growing concern. While the instances are still far and wide, the various economic matrix hint at possible upheavals. In all these circumstances and the constant flux, an education from a university in USA just does not make any sense in the present situation.
Alternatives
In contrast, European Universities as well as Universities in UK, Australia and even New Zealand promise better returns on Investment. Also, if you have the dough, spending that on a degree from abroad may not truly add any effective value. What would be more useful would be picking up countries in Asia – like China, Singapore, Japan and even Korea. Expand the horizons to include new possible networking opportunities for businesses and the world will open up with surprising benefits.