We are often asked by students if it’s worth taking a loan to pursue their dream of studying in the United States.
After all, the US is the epicentre of western civilisation, home to Wall Street and Silicon Valley, and the dream destination for expats across the world. It seems like a no-brainer to invest in your American education, especially given how valuable those credentials can be.
However, the answer isn’t always as simple as that.
The short answer is that it depends on your circumstances, the college you will be attending, your intended major, and your plans.
In essence, what we are trying to calculate is what will be the Return on Investment (ROI) for pursuing an American Degree. If the ROI outweighs the cost, then the answer is a yes.
Also, in our equation, ROI is not simply a quantitative value, but has qualitative factors associated too.
So let’s jump into the variables. You’ve probably come across some of them earlier:
These are the broad variables you need to factor in. The weightage of all of these will depend on your situation.
Now, the chef’s recipe:
Each student’s dilemma is highly unique and the decision making needs to be personalized. So, how do you go about this?
As a general rule of thumb, our belief is with current employment prospects here’s a crude estimation:
The qualitative factors you need to keep in mind are the fact that an American education degree tag is globally recognized and will open doors for the rest of your career. American college alumni groups are also the most active in terms of job opportunities and career ascension.
Most importantly, the quality of education you will receive will far surpass anything and make you a much better, well-rounded individual who will be able to thrive for the rest of their life.
However, we understand that finances are a daunting aspect. The final takeaway we want to talk about is how you should view your education not as a sunk cost but as an investment. So keep that in mind as you go about evaluating different colleges and choices - going for the cheapest option may not always be the best bet.
We hope this helps.
However, If you’re still confused after reading this we’ll do you one better. Reach out to us here and we’ll give you a 10 minute free meeting to help walk through your situation and let you know whether you should take the step or not.