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The US is often touted as a land of opportunities and is extremely popular among the international student community. However, higher education programmes such as a Master of Science (MS) can be expensive. Therefore, students opt for study loans for MS in the USA to fund their higher studies independently. So, let’s understand education loans for this course in detail.
Key highlights:
- What must you know about the US before pursuing an MS?
- Some top US universities
- Educational costs to consider
- Education loan for MS in the USA
- Some benefits of a student loan for MS in the USA
- Education loan for masters in the USA - Types
What must you know about the US before pursuing an MS?
Did you know more than 1 million international students were enrolled in US institutions during 2022-23? So, what really makes the US so famous is its impeccable educational system and globally recognised courses. Moreover, it is a melting pot of cultures where you can build your international network and learn different cultures & languages.
Some popular study programmes offered by the US universities are Computer Science, Information Technology, Artificial Intelligence, Data Science, Engineering and Cybersecurity. After completing your course, you can land your dream job in the US, which is a major financial hub. Whether you’re aiming to specialise in a specific field or broaden your knowledge base, studying for a Master’s in the US can provide a unique and enriching experience.
Some top US universities
Here are some of the best universities in the US as per the Quacquarelli Symonds World University Rankings and Times Higher Education (THE) World University Rankings.
| Sr. No | Name of universities | QS Ranking 2024 | THE Ranking 2024 |
|---|---|---|---|
| 1 | Massachusetts Institute of Technology (MIT) | 1 | 2 |
| 2 | Harvard University | 2 | 3 |
| 3 | Stanford University | 3 | 1 |
| 4 | Princeton University | 10 | 4 |
| 5 | University of California, Berkeley (UCB) | 4 | 6 |
Educational costs to consider
When studying in the US, you have to consider several costs, such as tuition fees, travelling costs, accommodation expenses, living expenses, learning devices costs, and other education-related expenses. It is no secret that education is super expensive in the US. Therefore, students turn to education loans to finance their education independently.
Education loan for MS in the USA
These days, students don’t believe in depending on their parents and aspire to fund their higher educational journey on their own. An education loan is a perfect tool to bridge the gap between students and their academic aspirations. You can opt for a student loan for MS degrees offered by US universities. The amount will depend on the university and the course you select.
Some benefits of a student loan for MS in the USA
- Be Atmanirbhar: We believe that, like several other students, you, too, want to be truly self-reliant and earn a self-made badge. This is possible with a student loan. It will give you the freedom to repay your education loan without depending on your parents.
- Impossible is nothing: Are you dreaming about that perfect university, but what stops you from taking admission is expensive education? Don’t let these financial barriers stop you from achieving your ambitions. You can opt for a student loan and study at your preferred university.
- Hold on to your assets: You no longer have to liquidate your assets or drain your family savings. By opting for an education loan, you can preserve your savings for emergencies and still fund your higher studies in the US. Isn’t that fantastic?
- Credit score: Did you know that when you repay your student loan responsibly, you build a healthy credit score, increasing your creditworthiness? This will assist you in enjoying several benefits when you opt for other financial solutions such as a home loan, car loan and credit card.
Education loan for masters in the USA - Types
- Education loan for MS in the USA without collateral
A non-collateral education loan, also referred to as an unsecured education loan, doesn’t require any collateral. Collateral is a security you offer to your lender when opting for a student loan. If you prefer not to pledge assets as security, you can choose this type of loan for your educational financing needs. - An education loan for the USA with collateral
For a secured (with collateral) education loan, you must provide an asset as collateral to guarantee the loan. Some common collateral options include an independent house, non-agricultural land, or a fixed deposit.
At Avanse Global Finance, we offer student loans in USD, allowing you to repay the loan in the same currency. This means you can avoid currency conversion fees and save your money. Studying in the US can surely be an expensive affair, but you don’t have to worry anymore, as you can apply for a student loan. We provide 100% financing for your education, covering all major costs, including tuition, travel, accommodation, study materials, and other related expenses. For more information about our education loans, please reach out to us. We look forward to supporting you on your academic journey.
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