The H-1B Dilemma

Every year more than 70,000 students come to the United States from India. For seven years now India has been the country which has sent the most international students to the US. Some of these students take loans from local banks back home while some rely on the Graduate Assistantships provided by American Universities.

The equation is simple, finish your education as quickly as possible, take your OPT, which allows you to work for a year without sponsorship and then find a company that will sponsor your H1B. This is a highway to live the American dream, the easiest road to get a degree and then pay your dues and be successful in the land of opportunities.

But due to the economic downturn, fresh graduates, both citizens and non citizens are finding it difficult to get a job. Things are more difficult for immigrants as companies like Microsoft, Google, Ebay, Cisco, and Intel are letting people go. To add to the insecurity, the economic stimulus bill signed by President Obama even includes a provision restricting the hiring of H1 B visa holders. Currently the H-1B cap is 65,000 and almost 40,000 of these visas go to workers/professionals from India. The threat has been downplayed by the US Ambassador to India David Mulford, he mentioned that it is a temporary political move and that the number of H-1B visas is likely to remain intact and they will continue to be heavily used.

But there seems to be a different reality around university campuses and IT companies. Indian students and professionals both are extremely worried about their future in the US. Most of them are also ready to go back if they lose their job. Students have a different story though, for them it won’t be an easy decision as they have to think of how to repay their student loan. Others who bought a house when the market here was good, face a tougher task. If they don’t retain their job, how will they pay the mortgage, and going back is not an option as you lose all the money that you paid as down payment for the house. Just walking away might close the door to the US as your credit history will be tarnished.

There are dilemmas, one- too many, whether going to the US for studies by taking a big loan is worth the trouble? Whether going to the US on an H1B visa is worth the insecurity? Or should they wait and watch…have faith as the market will get back on track soon.