Funding for Graduate Students is generally available through Scholarships/Fellowships and Assistantships. Fellowships and Scholarships are generally awarded on academic basis and require very high academic credentials. Contact your department /College for more details. These involve committed/non committed academic work/research for the specified time frame.
There are three types of assistantships: Research Assistantship (RA), Teaching Assistantship (TA) and Graduate Assistantship (GA). All these Assistantships entitle waiver of out-state tuition component alone and the In-state tuition will be deducted from the students assistantship funding in some cases only. Research and Teaching assistantships are generally confined to the students of the departments and the numbers vary from department to department. Graduate Assistantships involve working mostly in outside departments or agencies in areas like computer maintenance, Office management, Library etc. RAs and TAs depend on the availability of funds in your department. For more information on this, contact your department and professors in your area of interest. Regarding GAs, the availability of assistantship varies widely from year to year. If you are familiar with Windows NT, Visual Basic, Web technologies, C programming etc., you have a better chance. There is intense competition for assistantships and it is all up to your credentials and efforts. We cannot guarantee your chances about getting an assistantship here. So please come prepared to support your self for at least one semester. Having a fair knowledge of computers certainly furthers one's chances of obtaining an assistantship.
This information has been given based on personal knowledge and it is up to you to make enquiries and check out the facts. State Bank of India (SBI) and Canara Bank are among the best for student educational loans in India and they usually allot the maximum funds towards education among the banks. However you may also approach other banks and it?s up to your convenience. The average annual interests will vary from 14-15 % and they are almost the same in all banks. Most of the loans are granted on the basis of pledging your property (House & Land) to the bank. (They will retain your property documents till you repay the entire loan). Generally banks don?t accept Stocks and Jewelry. Property needs to be usually evaluated by a person recommended by the bank. Your property value needs to be around 1.5 times the loan you are seeking. For example, for a loan of around $6000, your property value needs to be around $9000 (this is my personal info and pls. verify it with your bank). Also in banks like the Canara Bank, you may need to contribute 25% towards the total loan amount.
Bank loans are given mainly on basis on the expenses quoted in the I-20 and so decide the University and then apply for a loan because the fees may vary from university to university. I-20 is the reference document for any bank loan. For repayment, the time given is around 5 years/ 60 installments. One repayment option would be to pay the annual simple interest from the year you take the loan. Another option is to start the repayment, 6 months from the date you graduate. In this case, the interest gets compounded every year. Say for example, for a loan of 1000$ and interest of 15%, the interest would be 150$ for first year, 15% again on 1000+150$ for the 2nd year etc. In the 2nd option, you obviously may end up paying more than what you would as in the 1st option but we would personally advise you to go for 2nd option where you get to start the repayment after you graduate instead of paying the yearly simple interest, which is a big burden for your parents. It may be usually around 2000-2500 Rs/month payment for a 6000-7000 $ loan and well this is unwanted and cumbersome if you have a middle class background. You can easily repay the amount after you go for a job, (It will be very less when you see the amount in dollars) never mind even if the amount is compounded and you pay more.
There are many formalities involved in granting of bank loans. It may take more than a month's time. The faster you act the better for you. Foreign exchange from the bank isn't released till you show the Visa on your passport. And then Air-tickets aren't issued till you show the Visa. Some of you may be paying for the Air-tickets through the bank. It is also possible to pay for the personal expenses (clothes etc) through the bank. You may need to show the bills for this. Foreign exchange is released in form of Travelers checks, DDs and Cash. Get the first semester fees in form of a DD in favor of "BURSAR University of Idaho" if you do not have funding. The rest can be in form of Travelers checks (TCs). Don't carry too much cash, as it is risky. $150-200 will be more than enough when you travel. TC's are encashable at Airports and you can depend on that for immediate cash.
You are advised to get adequate amount that covers your first semester fees if you do not have an assistantship.