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Admitted to Stanford


Ankurkapoor
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It is very difficult to get aid at stanford for the MS program. Majority of the students fund themselves as it nearly impossible to get aid at the MS level. You have excellent chances at the Phd level though. If you still wanna try for aid then you obviously you know the answer. Try mailing the professors. See if they have any RA or TA positions available.

 

Finally, I would suggest you to go to stanford even if you dont get aid.Most of the top tier universities dont give aid at the MS level anyway. Trust me,you dont want to miss out on stanford just because of the aid factor. Its just too good to miss out ;)

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hey, there's nothing wrong with choosing with one's wallet. especially in a situation like this, where he probably won't be able to get a visa without the proof of sufficient funding.

 

oh, and stinginess of stanford with its financial aid is as world famous as its reputation.

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hey dude... congrats.. awesome.. have applied too.. but no result as yet.. about aid i wud suggest u dont keep ur hopes too high.. have a few friends there who have had awesome acads and test scores and great records thru out but none of them have any sort of aid even after d 1st sem is over.. jus scrounge around and collect d money.. will b worth it
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Sorry guys, but all those who suggest Ankur going to Stanford with financial aid or not might not really understand the situation many of us are facing (can't say that this is the case for Ankur). For many students coming from poorer countries, getting admission without full financial support equals to no admit at all!!! Do you understand that in some places people can't save more than 1000-2000USD a year, provided they were lucky enough to have a good work in the first place? How would you finance Stanford then? Any ideas there? Of course, you will never get a bank loan in the U.S....i mean what kind of collateral would you be able to provide? Get a bit realistic. Unless you come from a rich family, you can't afford it. I'd say that applies to many U.S. citizens too.

 

As to you Ankur, I hope you won't have to face such a situation. Stanford is a great admit, I wish you the best and good luck with getting the funding too

 

ivo

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Exactly my thoughts. Estimated cost of living for one year is US$67 000, not including other expenses which may occur due to unforseen circumstances, which for me in my country, is enough to buy a huge detach in the city and two Mercedes.

 

I applied to Stanford as well, just to gauge my calibre... but without funding, I don't think it's a possibility.

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Ivo, in India, banks give you educational loans upto 20 lakh Indian Rupees (which is equivalent to nearly $45000). You have to start repaying 6 months after your course gets completed or you land up a job, whichever comes early.

 

I know a few guys who went to Stanfy without aid, and managed to find one. So, it is risky, but consider the fact that now a days almost all MS admits come without aid. This is especially true for top tier universities.

Estimated cost of living for one year is US$67000, not including other expenses which may occur due to unforseen circumstances, which for me in my country, is enough to buy a huge detach in the city and two Mercedes

Yes, I have heard that in Palo Alto, a single room costs $1200 per month ;)

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Ivo, in India, banks give you educational loans upto 20 lakh Indian Rupees (which is equivalent to nearly $45000). You have to start repaying 6 months after your course gets completed or you land up a job, whichever comes early.

 

this sounds wonderful, but there are couple of catches in there:

 

1)first what collateral do you have to provide for getting such a generous loan?Do banks really lend you money just because you got admitted to Stanford? Honestly, I cannot imagine this scenario.

And if you have to provide some guarantee for the bank, would you happen to have sufficient assets to back up this loan?

 

I have been to India and honestly, someone who's got a property worth of $45 000USD must be already considered rich.

 

2)$45 000 is not bad, but not enough. So do you get this funding each year?You know that most PhDs take couple of years at least and MS programs usually require 2 years residence (of course conditions alter from program to program). Hence we might not be talking about $45 000 but rather $90 000 at least.

 

3)Stanford is great, but after all, it's just a school. And from what I know about the life out there, no school can guarantee a finanically secure life. What it all comes down to is how well you do once you have graduated. And to be sure, having a debt of $90 000 at the beginning of your career is not very encouraging, to say the least.

 

Anand Iyer, I don't really want to take up an argument, and I do understand that getting into Stanford is huge. However, there are other considerations before one can resolutely claim: go to Stanford no matter what.

 

Hopefully others will comment on this too, maybe i am wrong.

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I understand what you're getting at Ivo and I understand also that Anand thinks Stanford is too good an admission to pass up just because it's expensive.

 

It's a difficult decision really because ultimately, will going to Stanford land you a job where you can repay your education loan within 6 months? Obviously, if you're going to another university without funding it's already going to cost you US$50000 and that's already a burden to most people. Forking out about an extra 50% of that amount for a Stanford degree may seem worth it initially and probably is if once again, you eventually do get a dream job which pays by the truckload.

 

You may possibly get an on campus job, or you may not. Those are things you have to take a risk on. And I think the point here is whether or not, at the end of all your efforts, is it worth it? Will you be able to bear the strain of financial burden and perform on your graduate courses at the same time? Will you be able to stand the thought that you will always be in debt? Being in debt and being constantly hounded to repay a loan is a nightmare.

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The trappings of life these days..... used to be simpler, my mom would say...

 

A personal observation: a friend went to a good school in another country, with the payment of one semester in his pocket. It was harrowing watching him constantly hounded by the school, whilst frequently risking his student visa with odd jobs here and there.

 

Ankur, if you are strong, very strong then go for it. Else, let Stanford wait for you, don't go chasing.....

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Thanks guys!

I really doubt the loan thing would work out for me.. The limit for Educational loans is 30k$ here in India. Also, For me its not a question of how easily I can pay back but How do I arrange so much money.

 

Actually for us Indians, the real value of our money becomes just 20% in the US (because of PPP applied to the exchange rate).. so 67K$ is way beyond my reach.

 

One option that I am considering is taking a two year deferral.. I have a job in Capital One for 60k$ per annum (even this is less than stan's estimated expense)... I would hopefully be able to save something atleast.

 

My profile is: B.Tech Mechanical, IIT-Delhi.

CGPA: 9.23/10

GRE: 800 Quant 620 Verbal 5 Essay

TOEFL: 277/300

Rank 2 of 66 in my dept.

1 Publication outside my area of research interest!

 

Ankur

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Great to hear from you Ankur. With the 2 years of working experience, it would definitely strengthen and NOT weaken your profile.

 

By that time, who knows, you may be a brand yourself. Look at Steve Jobs, Reese Witherspoon, Brin and others who got admission then dropped out.

 

PS: What is PPP???

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Ivo, I am not putting up an argument, I was just suggesting that options are available. Yes, the collateral needed for the loan should be equivalent to the loan value. But, I would not say that people with $45000 property is rich. I would rather say they are financially sound.

 

In all, I agree with you that you need to be financially sound to go to Stanfy. I think with his strong profile, Ankur will be able to find some kind of aid after going there. But, it's risky, I agree.

 

Asphalt, you are righ too, it's very difficult to manage when you are constantly hounded to repay the loan. If a job after MS is your ultimate aim, then it does not really matter if you go to Stanfy or other university, because I have heard that people from Stanfy and USC land up in similar jobs.

 

So, Ankur, think well before you choose. And once you choose an option, stick to it. Best of luck!

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Congratulations! I was just wondering if it's hard to get a TA/RA position after you become a student in the department/research group at Stanford? I thought it was a mid-sized school (not as many students as at berkeley or other UC schools) so the prospect of aid wouldn't be that bad once you actually become a student there. just my guess though... disproof appreciated if it's wrong.
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