My name is Mayur, I wanted to some guidance about pursuing MS in Computer Science from top university located in USA or any other county which offers best education.
Now why I want to pursue the MS in CS or IT?
I am very passionate about learning things that can help me to explore my self better as well as to serve the community in better way.
Also I am very keen about technologies and research happens across the world.
My Academic Profile and Background
Computer Engineer from Mumbai University passed in June 2011 with 71%.
After that I joined a start-up right after that where I work as Senior Software Architect, as of now I am earning good money (Rs.600,000/year) + 10% Equity and will get increment (probably Rs.700,000-750,000/year) in June 2012.
I earn this money because I have experience of working as Freelance Developer with several companies during my college days (which started at the age of 15) and have good knowledge of latest technologies.
Now I am very confused about doing MS in Comp Sci. since I always end-up with comparing Total Cost of Opportunity vs Benefits that I will get.
I am coming from Lower Middle Class family who has just started getting good things due to money I earn; and I don’t want them to look back again in out poor past.
I have also borrowed Education Load worth of $4500 from Indian Bank in-order to complete my Graduation.
My biggest concern is Money that I will burn for MS although I can arrange max loan of $35,000 for abroad studies + upto $18,000 from friends and family.
Here I have a question would I get any scholarship or financial aid due to my tech background?
I am planning to go in Aug 2013, till that time I would have overall valuable experience of 2 years.
Now the thing which always end me up in calculation –
I will be investing $60,0000 (Tuition fee + Living Expense)
$25,000 – Which I will earn if I stay in India instead of pursing MS
Is spending this much amount will be justifiable with respect to sacrifice my family (they want to see me happy) and I will do (My happiness lies in post grad from top university)?
It would be very helpful If you or any HSB member can answer my query since there are many people who might had faced same problem.
Higher Ed Expenses
Mayur, what you have described is typical for any middle class Indian Family.
Good to see your freelance experience is providing you with good financial benefit.
I wish every student perform Total Opportunity Cost vs Benefits analysis before deciding to study in USA or other countries.
If you get admission with Financial Aid, then all this Total Opportunity Cost vs Benefits can be thrown out of the window.
You can also consider Studying in Germany. Education is free or you will pay like 400 Euros per semester.
Sacrifice and Hard work
Without sacrifice you can’t reach new heights or do great things.
Your quality of life and your family status will go from lower middle class to upper middle class and above depending on your decision to study abroad.
Parents want their kids to have life better than their life.
If you are looking for bigger jump in your family status, then Studying Abroad will get you there. Exposure and experience from studying abroad will make you more valuable.
Total Value of the studying abroad experience is fare greater than opportunity cost you have to pay.
Good luck to you and take your time to make the right decision.