Exploring the Benefits of Curricular Practical Training (CPT) for F-1 Visa Holders

Curricular Practical Training or CPT is a type of work authorization that permits students holding F1 visa to work off-campus in a position directly related to their major or program of study. CPT allows students to engage in internships, cooperative education programs, or other work experiences that are an integral part of their curriculum. CPT can be full-time or part-time, paid or unpaid, and may take place during the academic year or summer breaks. In this blog, we will discuss the details of CPT, and benefits for F1 visa holders.

Consulting with the designated school official (DSO) and following the necessary procedures will help students maximize the advantages of CPT while maintaining their legal status as international students.

Duration of CPT

The duration of Curricular Practical Training (CPT) can vary depending on the program and the academic institution’s guidelines. Generally, CPT can be undertaken on either a part-time or full-time basis. Full-time CPT allows students to work for more than 20 hours every week during official university breaks or vacation periods, while part-time CPT limits students to working not more than 20 hours per week while school is in session. The total duration of CPT typically should not exceed 12 months. However, it is important to note that engaging in full-time CPT for more than 12 month can make students ineligible for Optional Practical Training (OPT), which is another work authorization available to F-1 visa holders after completing their academic program.

Eligibility for CPT

You must have been a lawful full-time student in the United States for one academic year (i.e., two full terms) to qualify for CPT unless your academic program mandates immediate participation for all students. Maintain a valid F-1 visa and a medical coverage.

Advantages of Curricular Practical Training (CPT):

  • Real-World Experience and skill development: CPT provides students with the opportunity to apply their theoretical knowledge in a practical work environment. It allows them to gain hands-on experience, develop practical skills, and understand how concepts learned in the classroom are implemented in real-world scenarios. CPT offers an environment for students to develop and refine a wide range of skills, including communication, teamwork, problem-solving, and time management. These transferable skills are in high demand by employers across various industries.
  • Career Exploration and Development: Engaging in CPT enables students to explore several career paths and industries. It helps them gain insights into their field of study, identify their strengths and interests, and make informed decisions about their future career goals.
  • Financial Support: Curricular Practical Training (CPT) offers F-1 visa holders in the US the advantage of financial support through paid opportunities. By participating in CPT, students can earn income that helps cover their education and living expenses. This financial support reduces the burden of tuition fees, accommodation costs, and everyday expenses. Moreover, it promotes independence and self-sufficiency by allowing students to rely less on external funding sources. The financial stability gained through CPT enables students to focus on their academic pursuits, gain relevant work experience, and fully immerse themselves in the international experience. By adhering to regulations and guidelines, students can benefit from the financial advantages of CPT while maintaining their F-1 visa status.
  • Networking Opportunities: CPT allows students to build professional networks and establish connections within their industry of interest. Through interactions with colleagues, supervisors, and professionals, students can expand their professional contacts, seek mentorship, and potentially secure future job opportunities.
  • Enhanced Employability and Resume Enhancement: Practical work experience gained through CPT can significantly enhance a student’s employability. Employers often value candidates with relevant industry experience, and CPT provides an avenue for students to demonstrate their skills, work ethic, and ability to contribute to the workplace. Having CPT experience can give students a competitive edge in the job market. Including CPT experience on a resume showcases a student’s practical experience and demonstrates their commitment to professional growth. It can make their resume stand out and differentiate them from other job applicants.
  • Cultural and Global Exposure: For international students, CPT provides an opportunity to immerse themselves in the cultural and professional environment of their host country. It exposes them to diverse perspectives, work practices, and cultural norms, contributing to their personal and professional growth.

At Dilip Oak’s Academy, We also provide detailed guidance on these processes under our Admission Counseling Services, including a selection of universities, documentation process and visa counseling, and mock visa interviews. In addition, as India’s leading Study Abroad Consultants, we have helped more than 30,000 students to secure their dream admits for various universities in America including MIT, Stanford, Cornell, Carnegie Mellon and other top-ranked universities.

We also offer GRE, TOEFL, and IELTS coaching, GRE Self Prep and guide students with university selection, application essays, and visa counseling under our Admission Counseling Services for USA, Germany and UK.  To enroll, call us on 91-020-67444222, 91-8007878495

The Optional Practical Training (OPT) Program for International Students in the USA.

Optional Practical Training (OPT) is a program that allows international students who have completed their degrees in the United States to work in the country for a certain period of time. The duration of the OPT program can vary depending on various factors such as the type of degree, the field of study, and any extensions that may be available. It enables oversees students to work in USA without obtaining H1B visa.

Benefits of OPT for International Students

Optional Practical Training (OPT) is an attractive option for overseas students coming to the USA for higher education:

Gain work experience: OPT allows international students to gain practical work experience in their field of study. This experience can help them stand out when applying for jobs after completing their studies.

Extend stay in the USA: OPT allows international students to stay in the USA for an additional 12 to 36 months after completing their degree program, depending on their field of study. This can provide an opportunity to gain work experience, and explore different career paths.

Network and make connections: While working on OPT, international students can network with professionals in their field, which can lead to job offers and career opportunities in the future.

Financial stability: OPT allows international students to earn money and become financially stable, which can be helpful in paying for their education loan.

Bridge to H-1B visa: OPT can serve as a bridge to the H-1B visa, which is a non-immigrant visa that allows U.S. employers to temporarily employ foreign workers in specialty occupations. OPT can provide international students with the necessary work experience to qualify for an H-1B visa.

Duration of OPT

The standard OPT program allows eligible students to work in the United States for up to 12 months. However, students with degrees in science, technology, engineering, or mathematics (STEM) fields, are eligible for a 24-month extension of their OPT period.

It’s important to note that the total duration of OPT, including any extensions, cannot exceed 36 months.

It’s also important to understand that the OPT clock starts ticking the day after a student’s program end date, and any time spent unemployed during the OPT period will count against the total duration. This means that it’s important for students to secure employment as soon as possible after their program end date, and to report any changes in employment or address to their Designated School Official (DSO) within 10 days of the change.

During their OPT period, international students can request that their employer sponsor them for an H1B visa, which grants them the ability to work in the United States for up to 6 (3+3) years. The US government allocates a total of 65,000 H1B visas every year, with an additional 20,000 visas reserved specifically for STEM students. Applications for H1B visas are accepted on April 1st of every year, with approximately 250,000 applicants competing for these limited slots, resulting in a lottery system to determine visa recipients. If a STEM student is not selected for a visa in the initial round, they can continue working under OPT and apply again the following year, providing them with up to three chances to secure a work permit during their OPT period.

At Dilip Oak’s Academy, We also provide detailed guidance on these processes under our Admission Counseling Services, including a selection of universities, documentation process and visa counseling, and mock visa interviews. In addition, as India’s leading Study Abroad Consultants, we have helped more than 30,000 students to secure their dream admits for various universities in America including MIT, Stanford, Cornell, Carnegie Mellon and other top-ranked universities.

We also offer GRE, TOEFL, and IELTS coaching, GRE Self Prep and guide students with university selection, application essays, and visa counseling under our Admission Counseling Services for USA, Germany and UK.  To enroll, call us on 91-020-67444222, 91-8007878495.

What is behind the increasing popularity of GRE among Indian students?

There has been a rising tide of Indian students going to the United States for higher-studies in recent years. The GRE is an entrance test that assesses proficiency in math, reading, and writing. It is required for admission to most postgraduate programs and doctoral programmes in the US and is also accepted by higher education institutions in the UK, Canada, Australia, and Ireland. The GRE provides universities with a common benchmark against which to compare applicants from around the world.

The increase in the number of Indian students taking the GRE is a significant development in the higher education landscape. Nearly 1,25,000 student visas were issued to Indians to study in the United States in 2022. This indicates a growing trend of Indian students opting for postgraduate education in the US and other countries.

Doubling of Indian Students Taking the GRE: A Significant Development

The number of Indian students taking the Graduate Record Examination (GRE) has doubled in the past decade to 1,14,000 which is just 10,000 examinees less than the number of test-takers in the United States.

The Educational Testing Services (ETS), a US-based organization, administers the GRE test. The organization has witnessed a 48% rise in the number of Indian test takers in the 2021-2022 academic year, with the number of examinees increasing from 68,869 to 1,02,024. This growth in GRE statistics in India has been attributed to the increasing number of Indian students opting for higher education in the US.

Hyderabad has topped the table in the number of students taking the GRE with a record 25,347 candidates. Mumbai had 5,759 candidates in 2021-22; Bangalore 5,564; Pune 3,689; Chennai 3,278; Delhi 2,845. Also, many second-tier cities are coming up. Guntur has witnessed rapid growth and the number of candidates for 2021-22 has increased to 8,983. Other Tier 2 cities like Visakhapatnam, Warangal and Nellore also performed well last year. The same can be said for many Tier 3 cities. For example, Khammam city entered the top ten following a 150% rise in the number of examinees, from 888 in 2015-16 to 2,221 in 2021-22.

Reasons for Indian Students Choosing US Universities

There are several reasons that attract Indian students to education in USA. Firstly, the US is home to some of the world’s best universities, offering high-quality education and research opportunities. Many Indian students see this as an excellent opportunity to gain a world-class education that will increase their job prospects and help them stand out in a competitive job market.

The US offers a diverse range of academic programs, giving Indian students a wide range of options to choose from. This includes courses in fields like engineering, business, technology, and the arts, among others. Also, the US offers a welcoming and inclusive environment for international students. Many universities in the US have dedicated international student support services to help students adjust to life in a new country and provide guidance on academic and personal matters.

Many universities in the US offer financial aid and scholarships to international students. This support can help alleviate the financial burden of studying abroad and make it more affordable for Indian students to pursue higher education in the US. Lastly, the US offers opportunities for practical experience through internships and co-op programs, which can help Indian students gain valuable work experience and develop their professional skills.

The GRE: An Essential Component of the Application Process for Indian Students

India’s rapid growth in GRE statistics is in stark contrast to recent trends in the US. In the US, universities are increasingly challenging the importance of standardized assessments like the GRE. However, in India, the GRE has become a critical component of the application process for admission to postgraduate programs. This growth in GRE statistics in India also makes a stark contrast against China, which has only witnessed a 20% increase in the number of test takers in the last decade. In the 2021-2022 academic year, only 50,758 Chinese students took the GRE exam, which is less than half the 1,14,000 of Indian test-takers.

At Dilip Oak’s Academy, we offer GRE, TOEFL, and IELTS coaching, GRE Self Prep and guide students with university selection, application essays, and visa counseling under our Admission Counseling Services for USA, Germany and UK. 

We also provide detailed guidance on these processes under our Admission Counseling Services, including a selection of universities, documentation process and visa counseling, and mock visa interviews. In addition, as India’s leading Study Abroad Consultants, we have helped more than 30,000 students to secure their dream admits for various universities in America including MIT, Stanford, Cornell, Carnegie Mellon and other top-ranked universities. To enroll, call us on 91-020-67444222, 91-8007878495.

Master of Architecture (M. Arch) Education in the USA: A Comprehensive Guide

 

Pursuing a Master of Architecture (M. Arch) degree in the USA is an excellent way to advance your knowledge and skills in the field of architecture. The USA has some of the best architecture schools in the world, offering high-quality education, cutting-edge research opportunities, and access to top-notch facilities and resources. If you are considering pursuing an M. Arch education in the USA, this blog will provide an overview of the M. Arch program in the United States, covering its structure, admissions requirements, and potential employment outcomes.

Masters in Architecture is offered as M. Arch, Masters of Science (M.S) or Masters of Arts (M.A) in US universities. As one can expect, an M.S in Architecture degree offers a more research and technology-oriented focus while M.A in Architecture degrees are more art-focused and generally specialize in design. The Master of Science (MS) in Architecture and Master of Arts (MA) in Architecture programs are typically research-oriented degrees that provide students with a theoretical understanding of architecture. On the other hand, the Master of Architecture (M. Arch) degree is a professional degree that prepares students to become licensed architects.

Fortunately, a master’s degree in architecture in the United States is considered a STEM degree (Science-Technology-Engineering-Mathematics). STEM degrees allows you to work on OPT (optional practical training) for 36 months after graduation. (compared to the 12-month OPT period allowed to other graduates)

M. Arch Program Overview

M. Arch programs in the USA are designed to provide students with advanced knowledge and skills in architecture and related fields. These programs typically take two to three years to complete and offer a comprehensive curriculum that includes both theory and practical coursework. The curriculum covers a wide range of subjects, including architectural design, history, theory, building technology, sustainability, and professional practice. In addition to coursework, students are required to complete a design studio project, which allows them to apply their theoretical knowledge to real-world design problems.

Master of Architecture (M. Arch) degree programs in the United States offer various specializations. Some of the most common specializations offered in M. Arch programs in the USA are:

  • Sustainable Design and Green Building
  • Urban Design and Planning
  • Interior Design
  • Landscape Architecture
  • Digital Technologies in Architecture
  • Building Information Modeling (BIM)
  • Construction Management
  • Real Estate Development and Design

These specializations enable students to focus on a specific area of interest within the field of architecture and develop their skills and knowledge in that area.

Requirements for Admission

Students will need the following: 

  • A bachelor’s degree in architecture or a related design field is required.
  • Most universities require a GRE test scores.
  • A resume or CV is required.
  • Proof of English language proficiency in the form of IELTS or TOEFL test results.
  • A SOP, or Statement of Purpose, is required for universities.
  • LOR or Letter of Recommendation, depending on the institution.
  • Portfolio: A portfolio of your design work is usually required. This should showcase your creative and technical abilities and may include drawings, sketches, models, photographs, and other relevant materials.

Career Prospects

To become a licensed architect in the USA, you typically need to earn a professional degree in architecture from a program that is accredited by the National Architectural Accrediting Board (NAAB). The most common degree is the Master of Architecture (M. Arch), but some states may also accept a Bachelor of Architecture (B. Arch) degree.

M. Arch graduates in the USA have a variety of career options in the field of architecture. Many graduates choose to work as licensed architects in architectural firms, where they may be involved in designing and overseeing the construction of buildings and other structures. Others may work in related fields, such as urban planning or interior design. Additionally, some graduates may choose to pursue careers as Project managers, design architects, senior project architects, landscape architects, urban designers and urban planners. There are job opportunities in a variety of private industries, including design, construction, urban development, and infrastructure.

The annual income of M. Arch graduates in the USA can vary depending on experience, geographic location, and the specific industry or sector they work in. According to the United States Bureau of Labor Statistics (BLS), the median annual wage for architects, including those with M. Arch degrees, was $82,320 as of May 2020. salaries ranging from $49,790 to $139,120.

Jobs for trained architects will continue to grow in the United States, with steady demand from corporations and planning organizations. Bureau of Labor Statistics predicts an 8.4% increase in employment for architects between 2018 and 2028. The United States is a top choice for architecture students due to its globally acclaimed universities, engaging curriculum, emerging technologies and design trends, and readily available employment opportunities.

Conclusion

Overall, pursuing an M. Arch degree in the USA can be a rewarding and fulfilling experience for those interested in the field of architecture. The programs provide students with a strong foundation in the theoretical and technical aspects of the discipline, as well as opportunities for hands-on design experience and exposure to real-world contexts. If you’re considering an M. Arch degree, be sure to research the various programs available and their specific admission requirements to find the best fit for your academic background and career goals.

 

F1 Visa: Basics and application process

The United States administration offers a variety of non-immigrant visas for foreign nationals. For instance, the United States issues B-1/B-2 visa to visitors and businessmen, and H-1B visas to those who have been granted permission to work in the country. An M-1 visa is issued to students enrolling in short-term vocational programs like flight schools, language institutes, etc. However, students going to an accredited university for a full-time academic program, require an F-1 visa stamp.

Currently, student visas are being processed faster than other types. Those who already hold a B1/B2 visa can obtain a visa by appearing for VFS appointment and by submitting their application via drop box. In other words, they get an interview exemption.
Students are allowed to apply for the F-1 visa 365 days before the start date of the program mentioned on their I-20 form. The I-20 form is an official document issued by the United States Citizenship and Immigration Services (USCIS). The following important details are mentioned in the document:

  • the name as printed on the passport of the student
  • the name of the university which the student is joining
  • the program to which the student has been admitted
  • the date of commencement of the program
  • the date by which the program has to be completed
  • the total cost of education for one year.

The fall 2023 semester generally begins in the third week of August. So, if you plan to attend an American university this fall, you can begin applying for your visa now.

How to Apply for an F1 Visa?

  • Get your I-20 from the SEVP institution
  • Apply online by filling the DS-160 form
  • Pay the general visa application fee ($160)
  • Pay the SEVIS fee ($350)
  • Schedule your OFC appointment followed by F1 visa interview date
  • Attend the F1 visa interview on the scheduled date

Keep in mind that you should have adequate liquid funds to cover the total cost of one year of education – this is mentioned in the I-20 form. Many students are under the wrong impression that their sponsor needs to deposit this entire amount in the bank and that otherwise their visa can be rejected. Contrary to popular belief, this is not the case. Bank deposits (savings, fixed deposits) and other liquid assets like shares, mutual funds, Public provident fund and employee provident fund etc. education loans are all acceptable forms to prove financial capability. The following are additional points are also taken into consideration by the consulate officer:

  • Accreditation and reputation of the university to which you have been admitted (this shouldn’t be an issue if you go through Dilip Oak’s academy; we only recommend accredited universities)
  • your academic background is good along with a satisfactory GRE score
  • Annual income and financial stability of your sponsor
  • Your communication skills along with your ability to give convincing and honest answers to the consulate officer’s questions

If your Visa Application gets rejected in the first attempt, you can apply again. You have to go through the same process again, except the SEVIS fee.
Start preparing your financial documents now and apply for an F-1 visa as soon as you get your I-20 form from the university you desire to attend. 

At Dilip Oak’s Academy, we provide detailed guidance on these processes under our Admission Counseling Services  that include, selection of universities, documentation process and visa counselling along with mock visa interviews. As India’s leading Study Abroad Consultants, we have helped more than 30,000 students to secure their dream-admits for various universities in America including MIT, Stanford, Cornell, Carnegie Mellon and other top-ranked universities.
We also offer GRE, TOEFL, and IELTS coaching, GRE Self Prep and guide students with university selection, application essays, and visa counseling under our Admission Counseling Services for USA, Germany and UK. To enroll, call us on 91-020-67444222, 91-8007878495.

MS in Spring 2024? Here’s what you need to know! 

MS in Spring 2024? Here’s what you need to know! 

If you are planning for the January 2024 intake, this blog will help you plan systematically to fulfill your dream of MS in the US. 

Before we get into the details, for those of you who are still on the fence about applying for the upcoming Spring semester because of the misinformation available online, the section below will allow you to confidently make your decision.

Should I Apply for the Spring Semester?

 Some common misconceptions: 

  • Spring enrolment is lower at most schools. Not really! Nearly all colleges and universities in the United States accept new students for the spring semester. The only caveat is that some universities only offer certain classes in the fall semester, so new students who enroll in the spring miss out. 

  • Financial aid is scarce. Again, this is not correct. Financial aid opportunities in the spring are comparable to those in the fall. Also, most universities only give financial aid to students who have already completed one semester with a very good GPA in the form of Research and Teaching Assistantships, tuition waivers, etc. (Grade Point Average). Accordingly, it makes little difference whether you enroll in the fall or spring semester.

Now that you are better informed, the timeline mentioned below will help you plan your entire application process.

What is the Best Time to Apply for the Spring Semester?

The optimal time to submit an application for the spring semester is between June and July of the preceding year. While many schools continue to accept applications through September, ensure that you confirm your specific program deadlines. 

Step by step guide to spring 2024 applications 

Here is the application schedule for the upcoming spring semester. The following instructions are universal and should be followed by all students applying for the spring intake. There’s no time to waste now, so hurry up and get to work.

February – March 2023 

  1. Review your goals for MS education and choose some specific areas in which you would like to specialize
  2. Register for the GRE and TOEFL/IELTS examinations – these examinations should preferably be taken by mid-June in order to have time to complete all of your online applications and courier the required documents by the end of July.
  3. Start preparing for GRE and TOEFL/IELTS, as it will take approximately 2-3 months to achieve your target score. 

April – May 2023

  1. Make a preliminary list of about 30 universities that meet your requirements considering:
    • Location
    • Costs
    • Broad specializations you are interested in
    • Recommendations by seniors your professors etc.
    • Whether your academic profile fits the university’s requirements.
  2. Arrange for 4 -5 sets of transcripts in sealed covers from your college or university – some universities insist on university transcripts
  3. Choose your recommenders (generally, 3 recommendations are required, at least one of which should be from the educational institute last attended) and give them the necessary details – resume, copies of your mark sheets etc.
  4. Start working on your Statement of Purpose (target date for completion 31 May 2023) and Resume

June-July 2023

  1. Take the GRE and TOEFL/IELTS exams latest by 20 July
  2. Carry out a comprehensive review of the 30 universities considering:
    • Your academic performance in the bachelor’s degree
    • GRE and TOEFL/IELTS scores of students admitted in the past
    • Any minimum cut-offs with respect to GRE and TOEFL/IELTS scores
    • Whether courses of your choice are offered in the spring semester
    • Cost of education
    • Complete your Statement of Purpose (SOP) and Resume
  3. Make your final shortlist of 8-10 universities.
  4. Request the ETS to forward your GRE and TOEFL scores (IDP for IELTS scores) to the universities you are applying to, specifying the correct codes for the universities/departments you are applying to.
  5. Complete the online application process and send the required documents by courier 

This completes the application process; however, there are further steps to be taken:

  1. Track the status of your application on your status page of the university’s website. Though universities generally communicate decisions or requirements by either e-mail or post, it may happen that the only source of information is your status page.
  2. If there are any deficiencies in your applications (missing documents, non-receipt of GRE or TOEFL/IELTS scores, recommendations etc.), act immediately to correct the deficiencies.
  3. When you receive an offer letter from the universities (or when an admission decision is indicated on your status page), email your acceptance. This is very important, especially when you are offered funding.
  4. When you have accepted the university’s offer of admission and the documentation formalities are complete, the university will send you the 1-20, an immigration document, which is essential for obtaining a visa.
  5. When you receive the I-20, check that it is correct in all respects:
    • Your name and date of birth should be exactly as in your passport
    • Your course and course duration are correctly specified
    • The financial sources indicated exceed the costs.
  6. Prepare the visa documentation
  7. Study the visa application formalities specified on the websites of the applicable US Consulate and the VFS (Visa Facilitation Services)
  8. Apply for a visa interview date – you can apply for a visa interview 120 days before the joining date mentioned on your I-20.

As India’s leading Study Abroad Consultants, we offer GRE, TOEFL, and IELTS coaching, GRE Self Prep and guide students with university selection, application essays, and visa counseling under our Admission Counseling Services for USA, Germany and UK. 

Contact us at 020-67444222 or email us at support@dilipoakacademy.com. 

It’s not too late to apply for fall 2023

The United States is without a question every student’s first choice when thinking about studying abroad for master’s. To convert this dream into reality, many of you may have already started with your applications for the fall 2023 intake. Most universities began accepting applications in October. You might be thinking that it’s too late to apply for the fall of 2023 now that January has arrived. The good news for you, It’s not too late!

Let’s delve deeper into this topic.

  • Roughly 10% of the universities had their final deadlines on 31 December
  • Around 10% have their final deadlines on 31 Jan.
  • However, the majority (about 80%) of universities allow you to apply till March and some of them even accept applications till May.

Which means that you can still secure an admission in a good university even if you start with your applications now!

Why Fall 2023

Fall intake is usually the most preferred among Indian students and for good reasons

  • Fall intake offers a more diverse range of courses
  • Fall intake allows students a better access to funding
  • Many universities have waived of GRE requirement for Fall 2023
  • It also allows students to explore part-time on-campus job opportunities such as research assistant and teaching assistant
  • Probably the most important reason for the popularity of fall admissions is the higher availability of post-study work options for students who start their studies during fall

You must move quickly

Although most universities will still be accepting applications till march, you need to consider time required for documentation and university shortlisting. Documentation includes procuring transcripts, drafting SOPs, personal statements, diversity statements LORs and resumes. University shortlisting involves lot of research to select right universities according to your profile and interests. You also need to move quickly because even after securing an admission, securing a visa can be equally tedious considering you are already on a tight timeline.

We are here to help you

We at Dilip Oak’s academy are here to help you.

  • We are the best when it comes to admissions counselling. We will provide you with a well-balanced list of universities with safe as well as ambitious options, thus increasing your chances of admission.
  • We offer counselling for SOPs (statement of purpose), LORs (letters of recommendations) and resumes and help you prepare everything from personal statements to diversity statements
  • We also provide guidance for visa along with mock visa interviews

Dilip Oak’s academy can be your perfect guide into this often confusing admission process. We have been in this business since 1996 and we have more than 30,000 success stories to attest to our expertise in this field. Our counselors are experienced professionals who interact with every student personally to understand his/her unique requirements and provide guidance accordingly.

Best Wishes and Happy applying!!

As India’s leading Study Abroad Consultants, we offer GRETOEFL, and IELTS coaching, GRE Self Prep and guide students with university selection, application essays, and visa counseling under our Admission Counseling Services for USA, Germany and UK.

Education Loans: Everything you need to know

After applying successfully for the Fall 2023 intake of your dream American university, many of you might be busy planning to arrange the finances for the program, right? Applying for a student loan is one such popular option preferred by many students and their parents. However, it is necessary to have the right advice before making a choice. 

This article is aimed to give you a broad overview of the student loan process and will also answer many of your queries about the same. So, let’s get started! 

What is an education loan?

An education loan is funds borrowed from a bank or a financial institution to cover the cost of tuition fees, allied expenses such as living and insurance costs.

Who is eligible for an education loan?

The eligibility for availing loan is determined by each bank/ institution independently, and several variations can be seen in them. However, the common requirements are as below:

  • The applicant and co-applicant should be citizens of India over 18 years of age
  • The student should have secured a minimum of 50% marks in HSC, and a bachelor’s degree
  • The student should have a confirmed admission from an overseas university (if applicable)  
  • The co-applicant should have a regular source of income 

What is the maximum amount of loan one can avail of?

There is no straightforward answer to this question, as it depends on many factors. But, many institutions offer loans with no upper limit if the collateral is provided. In the case of unsecured loans, usually, the upper limit would be around 45 to 50 lakhs.   

What are the applicable interest rates on education loans?

Various institutions, including public and private sector banks, offer a range of choices to students aspiring for education loans. Most of these loan schemes have a floating rate of interest calculated based on the repo rate and a spread decided by the respective institution. The interest rates are generally seen to move from  9.55% to 13%.  In addition,  a few nationalized banks also offer a concession of 0.5% for women students. However, please note that every institution has a different schedule for revising the rates; , it is advised to consult the representatives of such organizations to find out the exact cost of the loan. 

What is the tenure of a student loan? 

Education loan is generally offered for a period ranging from 10 to 14 years. 

How much time is required for the processing of an education loan?

Under normal conditions, student loans are processed in 15 to 25 days.

How to repay an education loan?

The terms of repayment of an education loan vary from bank to bank, and it is difficult to generalize them. But, as a common practice, a grace period of 6 to 12 months is provided after completion of the program.        

Documents required for applying for an education loan:

  1. Duly filled application form
  2. Passport-sized photographs of the applicant and the co-applicant
  3. Photo ID: PAN/ Passport/ Driving License/ Aadhaar / Voter ID of the applicant and co-applicant
  4. Residence proof: Passport / Driving License/ Aadhaar / Voter ID of the applicant and co-applicant
  5. Academic documents:
  • HSC Mark sheet           
  • Mark sheet of subsequent years of graduation
  • Mark sheet of entrance exams like GRE, IELTS, TOEFL etc. 
  • Scholarship documents (if applicable) 
  1. Proof of admission: Printed admission letter from the college or university (if applicable) 
  2. Bank statements of co-applicant: Usually statements of the last 8 to 12 months 
  3. Income proof of co-applicant:
    • For a salaried person:
      • The last  three  salary slips
      • Form 16 of the last two years
    • For a self-employed person:
      • Income Tax returns of the last two years
      • Financial statements of the last two years certified by CA
      • Proof of office (Lease deed, a Title deed, Utility bill etc.) 
  4. Collateral documents:
    • Property title deed
    • 7 / 12 extracts in case of land
    • Registered sale agreement etc.

The list shown above is representative only. The requirements may vary depending on the financial institution under consideration. Thus, it is always better to cross-check the requirements from the authorized representative of the concerned organization.

Additional Information:

Can I apply for a loan even if my admission is yet to be confirmed? 

Fortunately, the answer to this question is yes! Almost all banks accept loan applications even if admission to a university still needs to be confirmed or is in process. In such a case, the application is assessed based on the overall student profile, including academic performance and other criteria, such as the credit profile of the co-applicant. The bank may also approve the loan by issuing a sanction letter with the condition that the admission must be confirmed before its disbursal. 

Is there any tax benefit on availing of student loans? 

Yes. Under section 80E of the Income Tax Act of India 1961, an individual can claim a tax deduction on the interest paid on such loans. The maximum deduction that one can obtain is Rs. 40,000.

What is acceptable as collateral?

Collateral acceptable is either a movable asset or an immovable property. Financial assets such as fixed deposits in the respective bank are acceptable in the former category. The latter category of immovable property includes a flat, a house or a plot of non-agriculture land.

I hope this clears most of your doubts about education loans. I wish you all the very best! 

F1 visa interviews to begin mid-May

Most of you have received admits from the universities and are now in the crucial phase of visa application. Here is a quick look at the visa process, chronologically.

According to the recent update from the US Embassy in Delhi, visa interviews for students will begin in mid-May.

However, the embassy has also stated that Indian applicants are unlikely to get a second or third chance if the visa is not approved in the first interview. You are therefore requested to keep checking the website for visa dates and thoroughly prepare for the visa interview.

If thorough guidance related to :

  • filling the DS-160 form
  • payment of visa fees or
  • scheduling/changing visa appointments
  • document verification

you can also enroll for our visa counselling services and along with the above mentioned services, also avail of mock visa interview appointment with Mr. Dilip Oak. To enroll, call us on 020-67444222 or email us at support@dilipoakacademy.com.

US Student visa update 

Most of you have received admits from the universities and are now in the crucial phase of visa application. Here is a quick look at the visa process, chronologically.

  1. filling the DS-160 form
  2. paying the visa fees
  3. scheduling appointments for:
    a) submitting biometric data and documents at the Offsite Facilitation Centre and
    b) the Visa Interview

At the moment, many students are not able to get visa appointments and are confused as to how to proceed further. According to the recent update, the US Consulate has declared that students who have been previously issued any kind of US visa (B1/B2/L1/L2/H1-B/H4) can avail of the dropbox facility to expedite the process. 
The student has to login into his/her account on www.ustraveldocs.com, and answer a few questions to be eligible to avail of the dropbox facility. Following this, the student can directly book the OFC appointment. If the appointment goes well, the student will be directly issued the F1 visa within a week. 

If you have any queries related to:

  • filling the DS-160 form
  • payment of visa fees or
  • scheduling/changing visa appointments

these can be made at:

You can also contact us at the academy for any visa-related guidance and attend our LIVE visa workshop (webinar) by Mr.Dilip Oak on 17th April, 9 am to get in-depth assistance on the visa process. Register here: https://rzp.io/l/YoS0BjR3