Hello, I am planning to do MBA Full-Time program in Finance from USA in 2009.Please suggest me some good universities and about the bank loan details.My budget is between Rs 10000$ -20000$ regards tution fee.Looking forward for some help.Thanks in advance.

Asked by Saurav on 1 August 2008 at 4:27 PM.

Answered by USA Counsellor

Hi Saurav. The good universities for MBA in Finance are 1. University of Pennsylvania (Wharton) Philadelphia, PA 2 University of Chicago Chicago, IL 3 New York University (Stern) New York, NY 4 Columbia University New York, NY 5 Stanford University Stanford, CA 6 Massachusetts Institute of Technology (Sloan) Cambridge, MA 7 University of California--Los Angeles (Anderson) Los Angeles, CA 8 Harvard University Boston, MA 9 University of California--Berkeley (Haas) Berkeley, CA 10 North-western University (Kellogg) Evanston, IL For a bank loan in the US You need to have your signature and the signature of your co-signer on the application along with a copy of all the immigration documentation noted below WITHIN 20 DAYS of the initial conditional approval date. REQUIRED IMMIGRATION DOCUMENTATION: As an International student you must provide appropriate immigration documentation that includes: => A valid I-94 form, OR => Student's copy of a school certified I-20 form signed by the school and either A) stamped by a U.S. immigration official with an admission number, or B) contain a SEVIS number, OR => If an admission number or SEVIS number is not present on the student's copy of an I-20 form signed by the school, a copy of the student's valid I-94 is also required, OR => A valid passport AND visa with an acceptable status**. The passport & visa expiration date must meet or exceed projected graduation date on both documents, OR => A valid DS 2019 and either your J-1 visa or a valid I-94, OR => A school certified I-20P either stamped by a U.S. immigration official with an admission number or contain a SEVIS number AND a valid I-94. *Acceptable status: ACCEPTABLE VISA STATUSES INCLUDE: F1, F2, J1, J2, E1, G1, G2, G3, G4, H1, H1B, H2, H3, H4, I, L1, L2, P1, R1, TCI AND TN. You will also need to clearly print the Customer ID assigned to you and your name on all copies of the immigration documentation. The Customer ID assigned to you will display in the Social Security Number Field on the pre-filled application that is mailed to you or that you print out. Since your co-signer is a permanent resident (not a U.S. citizen), your co-signer must provide a copy of his or her immigration documentation, form I-551. Your co-signer will also need to clearly print his or her Social Security Number and name on all copies of the immigration documentation. For loan in India SBI education loan applications is a centralised process in Chennai. Around 112 branches directly come under SBI RACPC Anna Salai branch. So here is how you go about applying for the SBI edu loan 1) Approach your nearest branch, they won't be very forthcoming in helping you out if (1) you don't have an account with them. (2) Your place of residence is not in their 'JURISDICTION'. If you have had an account with SBI for a long time, then approach that branch and speak to the Bank Manager and the FIELD OFFICER regarding this loan...tell them you want only SBI to offer you a loan coz that's where you hold an account. Basically, the reason why they state that the applicant should go to a bank which is close the place of domicile of the parent is to ensure u don't take such loans from multiple branches...but anyway you give an undertaking in the end that u have not availed any other loan...u just need to push your application using the right influence. 2) Once you speak to the mgr and the field officer they will hand over some forms to you ...please note whatever forms u find on the website are only for a guideline, u cannot fill that up n submit. Besides that would be outdated. You will require the following documents (rough list) to be submitted as photocopies (which will be verified against the originals by the filed officer). a) Proof of residence b) Proof of identity c) Proof of IT returns d) IF YOU ARE WORKING YOU NEED TO ATLEAST GIVE A 'NO OBJECTION CERTIFICATE FROM YOUR EMPLOYER' stating they don't have any problems in you pursuing your higher education after you resign. e) If you are WORKING YOU SHOULD ALSO GIVEN AN UNDERTAKING THAT YOU WILL BE RESIGNING YOUR JOB AND WILL AVAIL THE LOAN ONLY AFTER PRODUCING ALL THE RESIGNATION LETTER DETAILS. if you don't do d) and e) THEY WILL TALK SOME CRAP N TURN DOWN YOUR APPLICATION SAYING ONLY STUDENTS ARE ELIGIBLE FOR EDUCATIONAL LOANS. f) Form I-20 g) proof of liquid assets (if you are taking only a loan < 7.5) + immovable assets (if you are taking a loan against collateral). PLEASE NOTE: The 'margin money' is computed as a ration of the amount you have sought a loan for, and the remaining amount required to complete your course (as stated on I-20) For ex, if I-20 says 25,000$ per year for 2 years Total Project Cost = 50,000$ Loan Sought: say 20,000$ then you should show liquid assets worth 30,000$ your margin will then be: 30000/50000 = 60% meaning AT ANY GIVEN TIME IF YOU WANT XX LAKHS FROM SBI, YOU SHOULD BRING A DD for (60/40)*XX lakhs. So keep this in mind, you cannot take your entire loan without bringing in the