got 2 collegemates in tamu now. we werent from a very good coll (although it was under anna univ...so that may help). I went to visit them, and met one of my schoolmates there as well. Not from a NIT\IIT level coll either. Neither were any of his roomies or close friends. My brother was under madras univ which is way way down compared to anna univ, and he got an admit into tamu as well. tamu loves desi students, as long as your research interests mesh well with theirs, and you did decently in school, its very well worth your time applying for it for the reasons you mentioned (great coll and cheap)