The US, which is home to some of the world’s most prominent institutions and faculty members, welcomed more than one million foreign students in the academic year 2019-2020. After China, India is the second-largest applicant for student visas.
Many Indian students want to return to the US to follow their preferred professional path. While the H1B Visa has remained a popular option for overseas students, many have become aware of its drawbacks and are eager to find an alternative.
The H1B visa is a lottery-based scheme that does not take into account the applicant’s qualifications or merits of any kind. Furthermore, the program only provides limited access to infrastructure and perks, thereby putting the ambition of obtaining a Green Card at a distance. As more students and their parents become aware of the opportunities available through the regular H1B path, the EB-5 visa program is becoming increasingly popular.
The EB-5, or Employment-based fifth category visa, is rather an investor visa program in which foreign citizens can get a Green Card by investing a minimum of USD 9 lakh (about 6.75 crores) in the United States.
One of the easiest ways for overseas students to get legal permanent residency in the United States is through the EB-5 immigrant investor visa program. Students can invest individually or apply for the visa as a family since each application includes the investor, their spouse, and any children under the age of 21.
Here are a few reasons why students will benefit from this path in the long run:
1. Higher school acceptance rate:
Today’s educational landscape is more competitive than it has ever been. International students must compete for places in the foreign quota, which reduced their chances of being accepted. In comparison to local candidates, the percentage of international students accepted to institutions such as MIT, Harvard, Brown, Yale, Berkeley, and others is insignificant. As a resident of the US, a foreign student with an EB-5 Green Card is able to compete fairly for a set in the most renowned colleges.
2. Reduced tuition:
In the US, education is fairly costlier than other education hubs. To get admission, the majority of overseas students must pay premium fees citizens and permanent residents pay less in tuition than international students.
3. Government help and a bigger pool of scholarships are both available:
International students who get an EB-5 green card may be eligible for government funding and scholarships not available to domestic students.
4. Better possibilities for internships and jobs:
International students who get a Green Card through the EB-5 Visa procedure have more internship options. Because of the uncertainty surrounding work permits, many businesses are hesitant to invest their time and money in overseas students.
5. Road to citizenship:
In contrast to other visa categories, the EB-5 Visa provides applicants with a straight Green Card. After receiving a Green Card, the EB-5 candidate can apply for citizenship after five years and certain requirements have been met.
To read more about the newly revised EAGLE Act, check out the link below: