
An important thing to consider if you are planning to study in the US is the immigration mess. Personally if I had understood the problems in advance, I would have been reluctant to work here. So here is a brief summary.
H1B visas
H1B visas allow a foreigner to work temporarily in the US for 6 years. Last year it was a challenge to get one, but this year it looks okay with the recession. Depending on when you graduate this can be a problem for you, if there are too many people with American graduate degrees.
Green Cards
Most people move to the US from Asia with the intention of achieving permanent residency. If you are from India or China you are in deep trouble at this point in time. The US gives about 3000 Green Cards per country per year for the EB-2 category (graduate degree holders or 5 years of work experience) for all countries. So if you are from a populous country like India or China, the demand far outstrips supply. According to an interview with the USCIS chief, Charles Oppenheim, there are about 60,000 people from India in the EB-2 Green Card line if you count applicants until July 2007. So that's 20 years to a Green Card right there, unless people start losing jobs ahead of you, move back to India, laws change so that we get more visas.
Why should you care?
So the longer you spend in the line, you start realizing how many limitations this puts on you. Once the first 6 years on your H1 finish, you can only renew your H1 every year, provided you have completed 2 stages of your Green Card application (a 3 stage process). Also there are limitations on switching fields, switching companies, starting your own company. In general you have to stick to your current job profile for as long as you have a Green Card application in flight, which I already told you is about 20 years if you were born in India/China. Also your spouse cannot work on a H4 dependent visa. Employment authorization for spouses is provided close to the end of the Green Card process. No intelligent spouse will be willing to put up with that for 20 years. Of course your spouse can get his/her own H1 visa.
I am brushing over a lot of details here but my personal opinion is that America isn't the right place for new immigrants from India and China for the longer term given the current laws. In any case all the top American companies have offices in India now, so there is little to gain by staying in America apart from the American lifestyle. America is a great place to learn though, so it is worthwhile getting an American degree.