Manage student loans for my wife


I live in New Jersey and I am in US for last one and half year. My wife applied for some schools in New York city for a Master’s program.

School quoted fees for 1 year = 55,000$ (including tuition + accommodation + others)

My Saving account showing = 35,000$, and I have a Flat in India.

My wife will be staying with me and covered with my insurance, therefor the actual expense should not cross 25,000$ to 30,000$.

Questions -

  1. How to manage a loan in USA to show additional finances.

  2. Can I opt for a student loan in India while staying in USA

In best case scenario, I may not have to touch the loan amount, and hoping to cover it from my savings. Currently I am on H1 visa and applied to extension.My wife planning to study on F1 visa.

Thank you,


The requirement to show $55,000 is part of SEVIS documentation even if you do not expect the cost to touch that level. Schools have to do this for federal compliance. Instead of going for a loan, I suggest pooling money from all sources and showing the correct bank balance. You can return the money later.

Best wishes

Dr. Sandeep Shankar, hopehumanityATgmailDOTcom

Thank you very much Sandeep for your reply!

Collecting money from friends and family is not a easy task, plus I heard that USCIS sometime verify the source of fund and ask questions about sudden raise in bank account balance.

I don’t think I have other options than bank loan, but the real problem is, bank asked for a US Citizen co-signer. Bank thinks that, H1 people are available in this country till his Visa expiry date, and they will not consider extension or green card petition filling. This makes loan tenure very small and does not make any practical sense.

Please let me know if anyone able to sail passed situation like me.