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Funding for study in USA


Funding is most critical and important aspect when it comes to study in USA or study for higher education. First of all getting admission in USA in good university is a dream come true, and then comes the problem to arrange funds for the education. Planning and preparation for funds should start soon after you begin your efforts to study in USA. With a steep rise in tuition fees and budgets cuts, study abroad loans has become a serious issue to be addressed at initial level itself. Many government organizations and banks have come up with attractive schemes and programs to deal with financial problems for studying in USA.


Once you get admission in the chosen University in USA, the next step would be to deposit the fees for the higher education. It’s highly essential to know in advance how much your study program is going to cost you, and how much you have to pay. This is critical part of the application process for any University. In order to help you in funding the higher education plans, financial aid for the college education is available in the form of student loans. Prime objective of such loans is to support and help the students who can’t afford the fees to get higher education. Usually the cost of higher education is much higher than the basic education. Hence, need of funding arises. But once your education loans are approved, the problem related to finances get solved.


Parents who have dreamed to educate their child in any university of USA experience emotion of shock due to Indian rupee repetitively falling against the dollar. Reasons behind this phenomenon are as follows:


  • Wall Street has predicted sluggish growth in the Indian market, as a result there has been disinvestment from the Indian industries to other promising markets. The direct effect is seen on the crumpling value of the Indian rupee over dollar.
  • Another important reason for the fall of Indian rupee rates vs dollar is the ‘Interest rates’. RBI has set fixed Indian currency-US dollar interest rates, hence several companies that have global presence face difficulties.
  • Parents should understand that exchange rate of currency is affected by the inflation rate of India. Presently the inflation rate is higher with no signs of coming down, thus lead to poor exchange rate.

Funding for higher education in USA can be procured from public or private sources. Public sources can be nationalized banks, student councils supported by the government or the loan companies that are approved by Government of India. Another option is to seek funding from private sources that includes student loan private companies or funding from parents or cosigner.


By the time you are ready to apply for student loan for undergraduate or graduate program, you are recognized as an adult. Thus lenders expect that you have a strong credit history to avail the funding to study in USA. Credit score is based on factors such as- payment history, span of credit history, types of credits used and the total amount. You can raise your credit score by- paying bills on time, do not cancel the credit cards and other charges & keep the balances low.