Regarding College Shortlisting

Hi Everyone, This is regarding college shortlisting based on my profile.
B.Tech in ECE (2017-2021)-7.21 CGPA or 68.5%
GRE- 323 (Q-168, V-155, AWA-3)
IELTS- 7 ( no band less than 6.5)
Work Exp- From June
Interested Course- CS, DS
Please suggest some safe and target universities.
Please suggest atleast one university in California.

Hi @rakeshchandramandava

I would suggest using the GyanDhan Admit Predictor to shortlist universities for your profile. I’m linking it here.

As for the universities in California, I will update the list by tomorrow morning.
Thank you for your patience.

Hey mate @rakeshchandramandava

I think you should explore these universities -

  1. San Jose State University
  2. University of San Francisco
  3. University of San Diego
  4. California State University
  5. Chapman University (private university)
  6. University of California, Berkeley

Let me know if I can help you in anything else.

Hey @rihshiii.
Can you mention which CSU you’re suggesting?
I am unsure if I can get admission into Long Beach or Fullerton with this profile considering the major change from ECE to CS.
Thank you.

I am thinking of taking an educational loan(Unsecured) from either Axis Bank or HDFC Credilia. However, I read some negative reviews about HDFC Credilia how they increase the interest rate without prior notice and demand for collateral to disburse the loan amount. Is it the same with Axis bank(their website mentions something about Repo Rate which I’m not sure what it is)?
Could you please suggest some other alternatives?

Hi @rakeshchandramandava
It would be helpful to note that ‘Repo Rate’ is defined as the rate at which the central bank of any country (RBI, in case of India) lends money to commercial banks in the stance of any shortfall of financial funding. It is used by monetary authorities in order to control inflation.
The repo rate impacts interest rate such that if the repo rate increases then the cost of borrowing will also be increased and vice-versa.
A bank or NBFC has the authority to adjust the interest rate according to the market conditions. HDFC Credila is a NBFC and holds the right to increase or decrease interest rate on loans. It need not be necessarily related to repo rate.
However, the bank / NBFC should notify the borrower with a prior notice that the interest rate would be changed.
If you wish to read more about interest rate, this blog would be relevant for you - Floating Interest Rates: A Complete Overview

Floating interest rate is the type of interest rate that changes periodically. In this, your interest rate can either increase or decrease and hence the word “floating” describes it aptly well. It reflects the financial market conditions. The rate of interest moves up and down, or “floats,” reflecting economic or financial market conditions. You can also easily understand here that it is an adjustable interest rate as it differs over the time period of loan repayment.
Yet not clear enough, then watch this video on ‘Abroad Education Loan Interest Rates: Fixed vs Floating’ to get all your doubts wiped away - Abroad Education Loan Interest Rates: Fixed vs Floating | Abroad Study Loan Details - YouTube
To put in a nutshell let us take into consideration an advantage and a disadvantage of floating interest rate loans for your education. Advantage is that floating interest rates may float down and the amount to be paid back by you may decrease. On the other hand, a disadvantage is that the interest rate may float up also and increase your payments with interest rate. It is unpredictable, so you are advised to know the functioning of floating interest rates and then make a firm decision.

Apart from Axis Bank, you can also consider ICICI Bank for an unsecured education loan. For an undergraduate course unsecured loan amount for premier institutions would be - up to Rs. 20 lakh. The loan amount for a PG course would be up to Rs. 40 lakh if you are eligible to take admission in selected institutes.

Alternatively, if you prefer there are firms termed as NBFCs which grant unsecured loans for education. It can also be a potential option for Indian students. There are four chief NBFCs in India that provide students an education loan without collateral. The decision of how much amount would be sanctioned to a student depends on various factors such as - target country and course chosen to study.

For more information you can check your loan eligibility at Education Loan for Abroad Study | Overseas Study Education Loan

If you want to read in detail about prime NBFCs in India click -
Avanse Education Loan (2022) | Avanse Education Loan Abroad Study - Avanse,
Auxilo Education Loan (2022) | Auxilo Education Loan Abroad Study - Auxilo,
Incred Education Loan (2022) | Incred Education Loan For Abroad - Incred.

You can also choose to take an unsecured loan for education from international lenders. No collateral or co applicant is required to be eligible for it.

Wish you all the best!