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Please help me with my future studies confusion :P .
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<blockquote data-quote="amol_cool" data-source="post: 1276802" data-attributes="member: 25471"><p>I seriously don't understand why people think or have a notion that MS is too costly and quote in the range of 50+ lacs! As a matter of fact I have NEVER heard of anyone I know doing MS and incurring a cost of more than 35 lacs for MS no matter which university they studied coz they PLANNED well.</p><p></p><p><strong></strong></p><p><strong></strong></p><p><strong>A simple breakdown of the costs can be as follows:</strong></p><p></p><p>1. Tuition Fees</p><p></p><p>2. Living expenses</p><p></p><p><strong>Detailed explanation of the above headers</strong></p><p></p><p>1. TUITION FEES: </p><p></p><p>It depends on a lot of factors. But you can start with public and private. Public universities are cheaper than private simply because they are funded by government and have restriction with respect to fee hike. Top 100 universities is a VERY broad category. You must narrow down to a range of 25 at the most and then select at max 10 within that range. A GRE score of 1300+ with a good profile in your undergrad is more than good for universities in 50-100 ranks. Also make sure you check the departmental rankings as they are more important than the overall university rank. Now, depending on the university, tuition fees may range from as low as $10k (e.g. latech) to $40k per year or even higher. But if you are not going to a top 25 university, I really don't see a point spending a HUGE sum of money just for climbing up 5 ranks in the list. It really doesn't make any sense. I study at University at Buffalo which ranks in top 50 for my department. Tuition fee is $15k per year. You can take $25k for the sake of your calculation.</p><p></p><p>2. LIVING EXPENSES: (including food and everything)</p><p></p><p>This cost depends on the city you live. If it's a big city, living costs would be more. Smaller the city, lesser the costs. They can range from as low as $6k to as high as $15k. You can take $10k as average for your calculation.</p><p></p><p>Adding it all up:</p><p></p><p>1. Tuition fees (2 yrs) - $50k</p><p></p><p>2. Living expenses (2 yrs) - $20k</p><p></p><p>TOTAL - $70k ~ Rs. 3181150 (as per today's rate)</p><p></p><p>NOW, important part. All these calculations was assuming you have NO tuition waiver, no scholarship and no form of financial aid. Also, assuming that you won't work part time as well. However, when you do MS, working in your related field is actually better when getting a job and hence almost everyone works somewhere even if it may be for a few hours per week. Whatever you earn from this, you can subtract from your total cost. A LOT of people earn enough to cover their living costs on their own and need money only for the tuition fees. </p><p></p><p>Also, I would STRONGLY recommend you to seek a trusted foreign education counselor. Ask your seniors about that. Applying to US universities is not just about reading the instructions on their site and following them. It's a LOT more than that and it comes only by experience so ask seniors, friends and everyone you know who has knowledge about it.</p><p></p><p>One last thing. PLEASE for god's sake don't look at average salary figures by rankings of university. Ranking is far too less important of a factor that determines your salary. There are TONS of other things that affect your salary which are more important than ranking.</p></blockquote><p></p>
[QUOTE="amol_cool, post: 1276802, member: 25471"] I seriously don't understand why people think or have a notion that MS is too costly and quote in the range of 50+ lacs! As a matter of fact I have NEVER heard of anyone I know doing MS and incurring a cost of more than 35 lacs for MS no matter which university they studied coz they PLANNED well. [B] A simple breakdown of the costs can be as follows:[/B] 1. Tuition Fees 2. Living expenses [B]Detailed explanation of the above headers[/B] 1. TUITION FEES: It depends on a lot of factors. But you can start with public and private. Public universities are cheaper than private simply because they are funded by government and have restriction with respect to fee hike. Top 100 universities is a VERY broad category. You must narrow down to a range of 25 at the most and then select at max 10 within that range. A GRE score of 1300+ with a good profile in your undergrad is more than good for universities in 50-100 ranks. Also make sure you check the departmental rankings as they are more important than the overall university rank. Now, depending on the university, tuition fees may range from as low as $10k (e.g. latech) to $40k per year or even higher. But if you are not going to a top 25 university, I really don't see a point spending a HUGE sum of money just for climbing up 5 ranks in the list. It really doesn't make any sense. I study at University at Buffalo which ranks in top 50 for my department. Tuition fee is $15k per year. You can take $25k for the sake of your calculation. 2. LIVING EXPENSES: (including food and everything) This cost depends on the city you live. If it's a big city, living costs would be more. Smaller the city, lesser the costs. They can range from as low as $6k to as high as $15k. You can take $10k as average for your calculation. Adding it all up: 1. Tuition fees (2 yrs) - $50k 2. Living expenses (2 yrs) - $20k TOTAL - $70k ~ Rs. 3181150 (as per today's rate) NOW, important part. All these calculations was assuming you have NO tuition waiver, no scholarship and no form of financial aid. Also, assuming that you won't work part time as well. However, when you do MS, working in your related field is actually better when getting a job and hence almost everyone works somewhere even if it may be for a few hours per week. Whatever you earn from this, you can subtract from your total cost. A LOT of people earn enough to cover their living costs on their own and need money only for the tuition fees. Also, I would STRONGLY recommend you to seek a trusted foreign education counselor. Ask your seniors about that. Applying to US universities is not just about reading the instructions on their site and following them. It's a LOT more than that and it comes only by experience so ask seniors, friends and everyone you know who has knowledge about it. One last thing. PLEASE for god's sake don't look at average salary figures by rankings of university. Ranking is far too less important of a factor that determines your salary. There are TONS of other things that affect your salary which are more important than ranking. [/QUOTE]
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