living expenses

U.S. Economic Outlook and Its Effect on STEM Students

Dilip Oak's Academy

In August 2024, the U.S. annual inflation rate dropped to 2.4%, the lowest since February 2021, when it was a staggering 7%. This marked a significant economic improvement after two difficult years in 2021 and 2022, with rising inflation and elevated unemployment rates. The high inflation during this period resulted in substantial increases in the cost of living, affecting essential expenses like housing, transportation, food, and even university tuition. For students, especially those pursuing degrees in STEM, these financial pressures have added stress to their academic journeys as they grapple with higher costs while completing their education. Despite these improvements, the U.S. unemployment rate in 2024 remains at 4.2%, slightly higher than last year’s 3.8%, indicating that recovery is ongoing.

Recent Fed Rate Cuts and Economic Conditions

The Federal Reserve has responded to the economic challenges by cutting interest rates by 0.5%, signalling a strategic shift to support employment and stimulate economic growth. By lowering interest rates, the Fed aims to make borrowing more affordable for consumers and businesses, which should encourage spending and investment. This move comes after years of prioritizing inflation control, with the Fed now focusing on reducing unemployment and promoting growth. The rate cut reflects the Fed’s confidence in managing inflation, and this shift is expected to create a more favourable environment for job seekers and businesses alike, offering relief to students and recent graduates entering the job market.

Positive Impact of the Growth in Stock Market on Employment

Financial markets have responded positively to the Federal Reserve’s rate cut, with stock prices rising as a result, especially in the tech sector. Lower borrowing costs enable tech companies to take on affordable loans, boosting investment in research, development, and expansion. This is especially beneficial for STEM students, as technology-driven companies are likely to increase hiring to support their growth. The tech sector’s reliance on debt to finance innovations means that rate cuts create opportunities for businesses to expand their operations, providing more job openings for graduates with the right skill sets in STEM fields.

When choosing a university for your MS program in the US, focus on institutions with strong expertise in your field, robust alumni networks, career services, and ensure they align with your financial and career goals​. Read our blog on Guidelines for Choosing the Right University for an MS Program in the US

Increasing Job Prospects for STEM Students

Even amid broader economic uncertainties, job prospects for STEM students remain promising, especially in high-growth industries. The continuing digital transformation across various sectors ensures that professionals with expertise in artificial intelligence (AI), machine learning, cybersecurity, cloud computing, and software engineering are in high demand. These skills are becoming essential as industries increasingly rely on digital tools and automation to stay competitive. However, greater competition for entry-level positions comes with the growth of job opportunities. STEM students must be proactive by gaining additional certifications, completing internships, and working on hands-on projects to differentiate themselves. Despite the competition, tech-driven sectors like AI and machine learning continue to thrive, providing ample career opportunities for those with the right skills.

Conclusion

In 2024, the U.S. economy is gradually stabilizing, aided by the Federal Reserve’s recent rate cuts that aim to boost economic activity and reduce unemployment. While inflation and rising living costs still pose challenges for students, STEM graduates stand to benefit from expanding job opportunities in the technology sector. High-growth fields like AI, machine learning, and cybersecurity offer promising career paths for students who continue to build their expertise and adapt to the evolving demands of the job market.

As India’s leading study abroad consultant, Dilip Oak’s Academy offers a comprehensive suite of admission counseling services that can guide you through the entire process from Shortlisting Universities to Visa Counseling. With our expertise, we have successfully sent 32,000 students to various prestigious American universities like MIT, Stanford, Cornell, and Carnegie Mellon. We also offer classroom and online coaching for GRE, TOEFL, and IELTS, as well as GRE Self Prep. Book a free consultation or call us at 91-20-67444222 to explore our services.

It’s not too late to apply for fall 2023

Dilip Oak's Academy

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 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.

15 cheapest and 15 most expensive American universities for international students

Dilip Oak's Academy

 

cheapest & costliest American universities

Pursuing M.S. in the USA is often expensive, especially for international students because unlike American citizens who pay in-state tuition fees, international students have to pay full tuition fees. For example, if an annual in-state tuition fee is $8000, an out-of-state tuition fee can be as high as $20,000. These tuition fees are also dependent on the ranking of the university. US universities are given rankings by certain private agencies like the US News, Princeton Review, etc. and as a thumb rule, the higher the ranking, the costlier is the university. Generally, state-funded universities are cheaper than private universities. Of course, there are certain exceptions to this.  However, just because the universities are cheaper, it does not mean they do not offer quality education.

Taking all these factors into consideration, at Dilip Oak’s Academy, we have shortlisted around 150 accredited universities which offer quality education and also offer good job opportunities.

Below is a list of the 15 most expensive and the 15 cheapest universities you can apply to, for pursuing a master’s degree program in the USA. The list is based only on tuition fees for fall 2020 and is not inclusive of living expenses because the living expenses mentioned on the I-20 form are on the higher side and the actual living expenses are less than that.

15 cheapest universities

SR.NO                Name of University State Code Tuition Fees
1 Minnesota State University MN 7424
2 University of Central Missouri MO 8697
3 South Dakota State University – Brookings SD 8876
4 University of South Dakota SD 10330
5 University of Texas – El Paso TX 10664
6 Brigham Young University UT 11160
7 Bowling Green State University OH 11611
8 Sam Houston State University TX 11630
9 North Western Polytechnic University IL 12150
10 Indiana State University – Terre Haute IN 12260
11 University of Wyoming – Laramie WY 12566
12 Texas A and M University – Kingsville TX 12839
16 University of Arkansas-Littlerock AR 13320
13 Arkansas State University AR 13500
14 Wright State University-Dayton OH 13800
17 California State University-Long Beach CA 14568
15 Central Michigan University MI 15300

15 most expensive universities

SR.NO                Name of University State Code Tuition Fees
1 Columbia University NY 58656
2 North Western University – Evanston IL 56067
3 Dartmouth College NH 55605
4 Rensselaer Polytechnic Institute NY 53757
5 Johns Hopkins University MD 52170
6 University of Michigan – Ann Arbor MI 50326
7 Boston University MA 49886
8 Carnegie Mellon University PA 49372
9 Brown University RI 49146
10 Duke University NC 49080
11 Cornell University NY 48900
12 New York University NY 45426
13 University of Pennsylvania PA 44814
14 University of Rochester NY 44608
15 University of Southern California CA 46948

For more guidance on university selection and admission process, enroll for our expert admission counseling today!

 

 

 

Dilip Oak’s Academy – Roommate Finder for the Fall 2016 Semester

Dilip Oak's Academy

So, you’ve got the admission news you were waiting for: your coveted admission for an ‘MS in US’ is confirmed. You’re scheduled to join your American university in the fall 2016 semester – and now it’s time to book airline tickets and start thinking about travel plans and accommodation.

One problem, however, is contacting senior students who are already in your desired US university, so you can arrange for a pickup and drop from the airport and some temporary accommodation. Another is finding other students who are heading to your US university, so you can choose room-mates and make joint travel plans.

So, here’s one more thing that Dilip Oak’s Academy is doing to make finding travel and room companions easier for you through Dilip Oaks Academy Online. We call it our Roommate Finder and it will help you locate and coordinate with other students joining the same university.

Here’s how it works: if you are a signed up member of Dilip Oak’s Academy Online, all it requires is that you update your application status using the University Applications Tracker. Once you’ve done that, the names of other students going to the same university as you are will automatically be updated on your Roommate Finder page. Then, just hit the contact button.

If you’re not a member then, joining up is free and easy – it just takes a minute or two – and then you will be able to find roommates as explained above.

Remember, Dilip Oaks Academy Online is free to join! So, tell all your friends who are applying for an ‘MS in US’ to join and update their admission updates. The more people join, the more everybody benefits! But, even now there are enough folks like you signed up with us to make this feature a big help to you!

P.S. we love your feedback, so let us know how we are doing at: support@dilipoakacademy.com

The Cost of Higher Education in America

Dilip Oak's Academy

Many Indian students are concerned about the cost of higher education in America and seek information on opportunities for financial assistance. The cost of education in the United States ranges from $14,000 to over $40,000 per year, with State universities and institutions in the South and Mid-West are often being cheaper than private institutions and those located in California or the North-East region. In addition to tuition fees, books and food, you have to plan for expenses towards housing, health insurance and transportation. In fact, a student’s major expenses will be on two major items: tuition fees and living expenses.

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