Hi
Our family is living in USA (with two kids) with the eldest kid in 7th grade. I am contemplating a move to Bengaluru in 2013. One of the reasons to move back to India is that, the expenses of our kids' college education in USA.
Surprisingly, I don't see this as the reason for people to move back to India. So, I am confused. Am I unnecessarily getting worked up about the college expenses or is it that nobody considers this as an important reason to R2I?
From what I understand, it can be anywhere from 35k to 50k per anum for tuitions in college per child, with out factoring room, books, food etc. With this rate, it can cost me all my assets just to get 4 year degree for my two kids. I wonder is it worth spending everyting for a 4 year degree? Or is it wise to move back to India to get a focused job oriented bachelor's degree for a lesser cost? They can still come back for a higher education later if they want to... Also, as of now, my kids are strongly inclined towards a science (engineering) kind of degree than humanities. So, all the options that are available in US education does not really matter to them.. since India has equally good options when it comes to engineering degrees..
Any thoughts that can help me decide would be greatly appreciated..
Thanks!
US college expenses for kids, a reason to R2I?
US college expenses for kids, a reason to R2I?
ABCD kids are smarter than their parents.
My friend's kids are getting full ride scholarship and they work hard for it. ( Desi parents make them very clear that they have to get full scholarship)
My friend's kids are getting full ride scholarship and they work hard for it. ( Desi parents make them very clear that they have to get full scholarship)
US college expenses for kids, a reason to R2I?
snadig;475087
Surprisingly, I don't see this as the reason for people to move back to India. So, I am confused. Am I unnecessarily getting worked up about the college expenses or is it that nobody considers this as an important reason to R2I?
Yes, It is surprising for me someone is saying this. I know only people in India or those R2I'ed going to US for their undergraduates, because quality of 'education' is supposedly poor, and only few OK colleges and those are tough & tough & rough, almost impossible for R2I'ed kids to get in. But of course everyone's circle of friends & issues are different, you could be putting your unique perspective. My unique (sorry, little bit of cynical ) perspective is US colleges are many in number each having many seats and hence very very easy to get (other than say really top few ones), and being in western country infrastructure is going to be better, so they are easy to convince yourself as good.
US college expenses for kids, a reason to R2I?
I would advise you to do some research on U.S. college expenses. It is not $35-50k for just tuition unless you are talking about some top private Ivies like Harvard or Dartmouth.
Here is one Dept of Education information page on college expenses: http://nces.ed.gov/fastfacts/display.asp?id=76
The average college expense is about $2k a month including tuition, room and food etc.
With some savings/expenses on your part (~$1k a month) and a combination of scholarships ($500-750 a month), part-time work ($250-$500 a month) and/or loans ($250-$500 a month), your kids can go to a college in the U.S. And, if they are interested in Science and Engineering, it is an absolutely great investment. They will find great jobs and be on their way.
Interestingly, an article came out recently in New York Times on how Indians in India are sending their children to the US because it is easier! See Link.
The Chinese are doing the same thing. See Link.
And here you are in the US thinking of sending child to India :)
Still your R2I idea is not entirely unreasonable although it would be preferable that you had a couple of other reasons - not just college expenses. The problem with R2I is that although the costs are cheaper, it is extremely tough to get into a good university unless you want to send your kid to a third-rate donation college. In the US, it is easier to get admission into a reasonably good university. I would say that you should thoroughly evaluate the U.S. college expenses, your finances and your kids' scholastic abilities before you decide to R2I.
Here is one Dept of Education information page on college expenses: http://nces.ed.gov/fastfacts/display.asp?id=76
The average college expense is about $2k a month including tuition, room and food etc.
With some savings/expenses on your part (~$1k a month) and a combination of scholarships ($500-750 a month), part-time work ($250-$500 a month) and/or loans ($250-$500 a month), your kids can go to a college in the U.S. And, if they are interested in Science and Engineering, it is an absolutely great investment. They will find great jobs and be on their way.
Interestingly, an article came out recently in New York Times on how Indians in India are sending their children to the US because it is easier! See Link.
The Chinese are doing the same thing. See Link.
And here you are in the US thinking of sending child to India :)
Still your R2I idea is not entirely unreasonable although it would be preferable that you had a couple of other reasons - not just college expenses. The problem with R2I is that although the costs are cheaper, it is extremely tough to get into a good university unless you want to send your kid to a third-rate donation college. In the US, it is easier to get admission into a reasonably good university. I would say that you should thoroughly evaluate the U.S. college expenses, your finances and your kids' scholastic abilities before you decide to R2I.
US college expenses for kids, a reason to R2I?
Thanks for all your replies. It made me think in a different perspective. I am more informed now and know what to expect if I choose US or Indian college.
Yes. I do have other reasons to R2I like being closer to aged parents, the expenses of living in US after retirement, the choices my kids will face when they are about to marry and settle in their lives, sense of identity and belongingness for my children given the cultural differences between home and outside environment etc. Kids' college education was one of them.
I also read an article recently which said in US we can soon expect an education meltdown. After finishing 4 years of degree, it can go underwater since it may not fetch a job and it will be hard to repay the student loan back. Online education from not well known universities may work out cheaper and more job prepared than legacy universities..
Please let me know your thoughts on college education in US and R2I option.. Again thanks a lot for all your inputs!
Yes. I do have other reasons to R2I like being closer to aged parents, the expenses of living in US after retirement, the choices my kids will face when they are about to marry and settle in their lives, sense of identity and belongingness for my children given the cultural differences between home and outside environment etc. Kids' college education was one of them.
I also read an article recently which said in US we can soon expect an education meltdown. After finishing 4 years of degree, it can go underwater since it may not fetch a job and it will be hard to repay the student loan back. Online education from not well known universities may work out cheaper and more job prepared than legacy universities..
Please let me know your thoughts on college education in US and R2I option.. Again thanks a lot for all your inputs!
US college expenses for kids, a reason to R2I?
snadig;475280
I also read an article recently which said in US we can soon expect an education meltdown. After finishing 4 years of degree, it can go underwater since it may not fetch a job and it will be hard to repay the student loan back. Online education from not well known universities may work out cheaper and more job prepared than legacy universities..
Personally I wouldnt worry about such gloom doom thingy either in US or India, neither will I worry about (or exited) about extreme optimism any where. I have personally taken the guts to R2I 13 yrs ago, and would do it again if I were to go back in time machine. Of course doesnt mean everything is hunky dory, but I bited the bullet & surviving and probability of survival till my end is high. I think your previous reasons for R2I are valid given that you have those opinions, and it is a matter of which lifestyle. Living in India gives you one unique lifestyle will shape you & your family in its own way and if that is desired and acceptable, then come. Poster roxstar has in many instances point that it is a fading concept, and I have to guess that is correct. R2I ing is a very upbeat path and very few can actually do it and stay that way. It is a reality and you must be willing to endure.