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Dr Kishore

Dr Kishore Managoli  |8 Answers  |Ask -

NEET-PG, USMLE, NEXT exam expert - Answered on Jun 08, 2023

Dr Kishore Managoli is the founder and principal educator at Mendell Academy, which provides coaching to medical aspirants appearing for the United States Medical Licensing Examination, National Eligibility cum Entrance Test-PG, the Institute of National Importance Combined Entrance Test, National Exit Test, Professional and Linguistic Assessments Board and United Kingdom Medical Licensing Assessment.
He is a senior pathologist, scientist, medical educator and entrepreneur with over 30 years of clinical experience and interdisciplinary expertise in medical knowledge management, pharmaceutical research and corporate governance.
He has a master’s degree in pathology from Dr V M Government Medical College, Solapur.... more
Balasubramaniam Question by Balasubramaniam on May 31, 2023Translate
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Career

My son is getting 580-584 in NEET UG 2023 and we are from Telangana and belong to general category. He will be getting MBBS in a government college based on last year's trend. My question is can he still be eligible for USMLE exams?

Ans: Yes of course he is definitely eligible for USMLE exams. He can apply for USMLE after completing two years in MBBS. All the best!
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Sushil

Sushil Sukhwani  |200 Answers  |Ask -

Study Abroad Expert - Answered on Sep 27, 2023

Career
Dear Sushil ji, My husband completed his MBA from IIM dubai in 2009. Right now he is working as an Asst. Manager in a private industry from the last 14years. Now he is ready to make his goal as to study MS in USA by his own money. Now his age is 38years with 14years work experience. Can he apply for the universities in USA. If yes is he required GRE score for january '24 application? Please advice/suggest us. And aslo if yes please suggest which course are helpful for better future..
Ans: Hello D,

To begin with, thank you for contacting us. I am happy to hear about your husband’s plans to pursue an MS in the USA. To answer your question first, considering your husband’s background, having acquired 14 years of professional experience, and even at the age of 38 years, it is indeed possible for him to now apply for MS (Master’s of Science) programs in the United States. Candidates who have acquired different experiences are highly sought-after by a number of universities in the USA. Taking into account this factor, your husband’s MBA degree in 2009 from IIM Dubai, will definitely be a plus point, which I believe, in turn, will definitely make him an invaluable asset. I suggest that you take the below mentioned factors into consideration and then make a final decision:

1. Take into account your husband’s age and years of professional experience:
Your husband’s decision to pursue a Master’s degree in the USA is a wise choice. Although his age may not match the ages of the other candidates opting for a Master’s course, I would like to let you know that having acquired 14 years of professional experience will definitely serve as a plus point in this academic pursuit. Candidates with diverse work experiences having been employed at different companies, are often preferred by the Admissions committees. Your husband’s 14 years of professional experience surely brights to light his level of maturity, unwavering dedication, and the different ways in which he can prove to be a perfect fit for the program he intend pursuing.

2. Researching and Shortlisting Programs:
This is a crucial step in the application process, wherein your husband needs to conduct an extensive study and shortlist programs that align with his interests and academic objectives. Considering his background, I believe, he would surely wish to pursue management, and business-oriented programs or maybe programs in an associated field that matches his abilities. Accordingly, he can look into programs viz., Master of Science in Finance (MSF), Master of Science in Management (MSM), or Master of Science in Information Technology (MSIT), etc. I suggest that he selects the perfect program, and for that he will need to investigate universities and the programs they have to offer, and finally select the one that best resonates with his professional ambitions.

3. Appearing for the GRE as a program prerequisite: Addressing your query concerning whether or not your husband would need to appear for the Graduate Record Examination (GRE), I would like to inform that you will need to inquire with the specific university and program your husband intends applying for. Each university and program has varying prerequisites. In my opinion, the GRE standardized test may be a necessity while applying for certain programs. On the other hand, considering your husband’s past educational accomplishments and professional experience, other programs may not require him to appear for the GRE. I suggest that he meticulously investigates the entry criteria of the universities and courses he wishes to apply to.

4. Applying to universities and programs: As a part of the application procedure, your husband will need to submit important documents. I recommend that he prepares an excellent application. He will need to submit a compelling Statement of Purpose, endorsement letters from professors and employers who can attest to his academic achievements and character, as well as results of mandatory standardized exams. He should strongly focus on his professional experience and explain how it makes him the perfect fit for the program he intends applying to. I recommend that he begins the application process beforehand.

5. Plan your Finances: I know that studying in the USA is a costly affair, and for that reason, your husband should budget his finances correctly, so as to cover his cost of education, including living and tuition costs, as well as other miscellaneous expenditures. Also, a number of grants, scholarships, and other forms of financial aid, in addition to part-time employment possibilities, are offered by majority of the universities. I recommend that your husband looks into the available assistantships, scholarships etc. as these can help alleviate the high costs of studying.

6. Obtaining a Valid Visa and following Immigration Guidelines: Your husband, on securing admission, will be required to obtain a valid student visa in order to study in USA. An F-1 visa is the required one. I recommend that he conducts an extensive study and prepares for the visa application process.

7. Consider Long-Term Prospects: Your husband should take into account his prospects for the future and understand in what way the Master’s program opted for by him resonates with these prospects. I believe that undertaking internships, career guidance, and building connections while still pursuing his Master’s degree will go a long way in enabling your husband bag employment possibilities upon graduating.

Summarizing the above, I would like to tell you that taking both, your husband’s age and professional experience into account, he is eligible to apply for USA Master’s programs. Nevertheless, I recommend that he conducts a comprehensive research and opt for those courses that best match his aspirations. Not just that, he should also make a compelling application as well as possess a sound financial strategy. I also suggest that he finds out whether or not the particular programs require him to appear for the GRE or not, and that he adheres to other prerequisites for admission if required.

For more information, you can visit our website.
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Moneywize

Moneywize   |59 Answers  |Ask -

Financial Planner - Answered on Feb 25, 2024

Asked by Anonymous - Feb 24, 2024Translate
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Money
I will be retiring in October 2024 and expecting a retirement corpus of Rs 80 lakh. I would be spending 60 per cent of this amount on my son’s medical admission and studies. How should I invest the rest in different sectors to earn monthly income of nearly about 40,000?
Ans: Given your retirement corpus of Rs 80 lakh and your plan to allocate 60% of it towards your son's medical admission and studies, which amounts to Rs 48 lakh, you'll have Rs 32 lakh remaining for investment. To generate a monthly income of approximately Rs 40,000, you'll need to carefully plan your investment strategy. Here's a suggested approach:

1. Assess Your Risk Tolerance: Before investing, consider your risk tolerance, investment horizon, and financial goals. Since you're retiring soon and seeking a regular monthly income, it's advisable to focus on relatively stable and income-generating investment options.

2. Allocate Funds: With Rs 32 lakh available for investment, you can allocate the amount across different investment instruments to achieve diversification and manage risk.

3 Income-Generating Investments: To generate a monthly income of Rs 40,000, you'll need investments that offer regular payouts. Here are some options to consider:

a. Senior Citizen Savings Scheme (SCSS): This government-backed savings scheme offers quarterly interest payouts. You can invest up to Rs 15 lakh individually and earn regular income at a fixed interest rate, currently around 7.4% per annum.

b. Post Office Monthly Income Scheme (POMIS): Another government-backed scheme that provides monthly income. The maximum investment limit is Rs 4.5 lakh for an individual account and Rs 9 lakh for a joint account. The current interest rate is around 6.6% per annum.

c. Fixed Deposits (FDs): Consider investing a portion of your corpus in fixed deposits offered by banks or financial institutions. Opt for monthly interest payout FDs to generate regular income.

d. Debt Mutual Funds: Invest a portion in debt mutual funds that focus on generating steady income with relatively lower risk compared to equity funds. Choose funds with a track record of consistent returns and low expense ratios.

4. Systematic Withdrawal Plan (SWP): For investments in mutual funds or other growth-oriented instruments, consider setting up a systematic withdrawal plan. SWP allows you to withdraw a fixed amount regularly, which can serve as your monthly income.

5. Emergency Fund: Set aside a portion of your corpus as an emergency fund to cover unexpected expenses or contingencies. This fund should be easily accessible and parked in liquid or low-risk instruments like savings accounts or liquid funds.

6. Review and Adjust: Regularly review your investment portfolio to ensure it remains aligned with your financial goals and income requirements. Adjust your asset allocation and investment strategy as needed based on changing market conditions and personal circumstances.

It's crucial to consult with a financial advisor or planner who can provide personalised advice based on your specific situation and goals. They can help you create a comprehensive retirement plan and investment strategy tailored to your needs, risk tolerance, and income requirements. Additionally, consider tax implications on your investment income and consult with a tax advisor to optimise your tax efficiency.
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