Guide for Indian students to the total cost and scholarships for master’s in the USA

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Understanding the costs, scholarships, financial aid and convenient loan options for Indians going for a master's in the USA

The USA remains the top choice for Indian students pursuing higher education abroad, according to the Open Doors Report

A significant portion of the 63% of Indian students enrolled in the USA in the 2022-23 academic year were enrolled in master’s programs, particularly in fields like engineering and computer science where theres high demand for skilled professionals in these areas. 

When applying for a master’s in the USA, Indian students typically need to meet several key requirements. This guide covers the total cost, scholarships and financing options available to help Indian students achieve their master’s aspirations in the USA.

What’s the total cost of a master's in the USA for Indian students?

The cost of pursuing a master's in the USA can range from US$30,000 (INR 25.35 lakh) to US$115,000 (INR 97.19 lakh), depending on the university and location. Here’s a breakdown of tuition fees, living expenses, application fees, accommodations, food and other fees below.

Tuition varies by university type: public, private or top-tier. Below is a breakdown of the typical ranges for each category.

University type Annual tuition range  Example universities
Public  US$12,000 – US$30,000 (INR 10 – 25 lakh) University of Texas, Austin
University of Illinois at Urbana-Champaign
University of California, Los Angeles (UCLA)
Private US$30,000 – US$65,000 (INR 25 – 54 lakh) New York University (NYU)
University of Southern California (USC)
Boston University
Top-tier  US$50,000 – US$70,000 (INR 41 – 58 lakh) Massachusetts Institute of Technology (MIT)
Stanford University
California Institute of Technology (Caltech)

Note: Tuition fees are approximate and subject to change based on the program and financial aid opportunities.

In addition to tuition, Indian students should plan for living costs, which can fluctuate depending on the city and individual lifestyle. On average, monthly living expenses range from US$1,000 to US$2,000 (INR 82,000 – INR 1,64,000), while annual expenses are estimated between US$10,000 and US$25,000 (INR 8,20,000 – INR 20,50,000). Below is a detailed breakdown of these expected living expenses:

Category Cost
Accommodations On-campus: US$800 – US$1,500/month (INR 65,600 – INR 1,23,000)
Off-campus: US$700 – US$2,500+/month (INR 57,400 – INR 2,05,000+)
Food On-campus dining: US$250/month (INR 20,500)
Off-campus groceries: US$300 – US$600/month (INR 24,600 – INR 49,200)
Transportation Public transport: US$100 – US$200/month (INR 8,200 – INR 16,400)
Health insurance US$700 – US$1,100/year (INR 57,400 – INR 90,200)
Books and supplies US$900 – US$2,000/year (INR 73,800 – INR 1,64,000)
Personal expenses US$2,000/year (INR 1,64,000)

There are additional costs that Indian students should consider while planning their education in the USA:

Expense Estimated annual cost 
Visa and travel costs US$500 – US$1,000 (INR ~41,000 – 82,000)
University fees US$1,000 – US$2,000 (INR ~82,000 – 1.6 lakhs)
TOEFL fee US$200 (INR ~16,900)
GRE fee US$270 (INR ~22,550)
Application fees US$40 – US$200 (INR ~3,300 – 16,000)

What are the scholarship opportunities for a master's in the USA?

Scholarships can lower the cost of a master’s in the USA for Indian students but often cover only part of the expenses and have specific eligibility requirements, making loans necessary to manage funding gaps. Scholarships are categorized into university-specific, government, external, financial assistance, and merit-based types. Below is an overview of key opportunities.

Scholarship type Examples Coverage Eligibility
Merit-based Knight-Hennessy Scholars (Stanford) Full tuition + living expenses Strong academic record, leadership skills, admission to Stanford
AAUW International Fellowship US$18,000 – US$30,000 (for women in STEM) Female candidates pursuing graduate studies in the USA
Financial assistance  Tata Scholarship (Cornell University) Full tuition + expenses Indian students admitted to Cornell University, based on financial need
Government-funded Fulbright-Nehru Master’s Fellowships Full tuition, living expenses, airfare Indian citizenship, academic excellence, work experience preferred
Private Inlaks Shivdasani Foundation Scholarship Up to US$100,000 Indian students under 30 years old with admission in a reputed institution
Rotary Foundation Global Grants Up to US$30,000 Community service experience; admission to an accredited program
Loan-based JN Tata Endowment INR 1,00,000 to INR 10,00,000 (Loan) Indian citizens, academic excellence, proof of admission

In addition to the listed options, MPOWER Financing provides several scholarships for international students, such as the MPOWER Monthly Scholarship, Global Citizen Scholarship and MBA Scholarship. These scholarships aim to support students enrolled in MPOWER-eligible schools in the USA or Canada.

Student loans for master's in the USA

While scholarships can be a viable option, they often cover only part of the total cost. This is where student loans play a crucial role in bridging the financial gap. Loans can be either secured, requiring collateral and a cosigner or unsecured, which don’t require collateral and offer more flexibility. 

MPOWER Financing is an example of an international lender that provides fixed-rate, no-cosigner loans, covering expenses beyond tuition, such as living costs and supplies. Exploring options like these can give students the financial support needed to comfortably manage their master’s journey in the USA.

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In conclusion: Funding your master's in the USA

Pursuing a master’s in the USA requires careful financial planning, as the total cost can range from US$30,000 (INR 25.35 lakh) to US$115,000 (INR 97.19 lakh). While scholarships can reduce expenses, they often cover only a portion of the total cost, making student loans a critical component for most Indian students. 

Understanding the differences between secured and unsecured loans, as well as the unique benefits of international lenders, can help you choose the best option for your situation.

Evaluating these options early and exploring flexible funding solutions tailored for international students will help ensure a more manageable and rewarding master’s in the USA journey.

If you’re looking for a flexible loan option that doesn’t require a cosigner or collateral, MPOWER Financing could be the solution for you. Explore how MPOWER can help fund your master’s in the USA

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FAQs


1.  How to apply for a master’s in the USA.

The application process typically involves submitting an online application along with required documents such as academic transcripts, standardized test scores (GRE, TOEFL/IELTS) and recommendation letters.

2.  How to shortlist universities for a master’s in the USA.

When shortlisting universities, consider factors such as program ranking, faculty expertise, research opportunities, tuition fees, location, and available financial aid or scholarships.

3.  What’s the minimum GPA (CGPA) required for a master’s in the USA?

Top universities, such as MIT and Stanford, often require a GPA of 3.0 on a 4.0 scale (approximately a CGPA of 7.0 on a 10-point scale). Mid-range institutions like the University of Illinois, Chicago or the University of Texas, Arlington may accept students with a GPA of 2.7 to 3.0 (approximately a CGPA of 6.5 to 7.0 on a 10-point scale).

4.  What exams should I take to meet the qualifications for entry into a master’s program in the USA?

Common exams include the GRE for general admissions and TOEFL or IELTS for English language proficiency. Requirements vary depending on the program and university.

5.  How many LORs (letters of recommendation) are required for a master’s in the USA?

Most universities require two to three letters of recommendation. It’s advisable to select people who know your academic or professional abilities well.

6.  How to apply for scholarships for a master’s in the USA.

Start by researching scholarships offered by universities, government bodies and external organizations. Check the eligibility criteria and gather required documents like academic transcripts, recommendation letters and personal essays. 

Apply early, as deadlines can be months before university admission deadlines and tailor each application to highlight your strengths and achievements.

7.  How to get a loan for a master’s in the USA?

Students can apply for education loans through the government or international lenders. Some international lenders, such as MPOWER, offer loans without collateral or cosigner requirements, and the application usually requires proof of admission, visa status and financial documents.

8.  How many semesters are there in a master’s program in the USA?

Master’s programs typically last one-and-a-half to two years, spread across three to four semesters. Students with a higher course load each semester or those with transfer credits may have the option to fast-track their degree and graduate earlier.

9.  How many years can a student work after a master’s in the USA?

After completing a master’s, students can work for up to 12 months through optional practical training (OPT), with a 24-month STEM extension available for certain fields, allowing a total of up to three years.

10.  What resources can help Indian students with the USA college application process?

Indian students can visit the official EducationUSA website for the latest information on the college application process, planning higher education in the USA, and access to advising services: EducationUSA India.

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