Engineering Colleges in USA Hit by Global Economic Meltdown
Each year, a sizeable number of
Indian students go to the USA to pursue higher studies in
Engineering. But, the global economic meltdown having hit even
Engineering colleges, the US may not be the first choice for Indian
students at the moment.
Recession has resulted in less revenue from endowments in private colleges and less revenue from states in public colleges. And with American Engineering colleges cutting down on funds and scholarships, Indian students are likely to be stuck with lesser number of scholarships and assistantships. The US is the largest host country for international students, with the biggest draws being from China, India and South Korea. 
The major research
universities in the US have long had over 50% applications from
international students and many are well above that figure.
Universities, like other sectors, have had no recourse but to
take aggressive steps including a freeze on hiring, reductions
in force (RIF), budget cuts, freezing salaries and so on. On the
positive side, there has been and continues to be an enormous
infusion of funds in terms of 'bailout money' to help correct
and turn around the financial crisis. A good deal of this money
is directed to education. It's also
interesting to note that Engineering students who graduated last
semester have no job offers. This is not normal. Many are having
a tough time finding jobs. Some people decide to go to Grad
school rather than look for a job. The internships and co-op
programmes have suffered. A lot of people have been laid off
their co-op jobs and students are having trouble getting
internships. With an economic downturn of this magnitude and
scope, there is virtually no precedent on which to base a course
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