Even my Visa was denied for the same reason the first time. However if you reapply with significant change in the amount, your chances of getting it the next time is relatively better.
Going in for an educational loan may or may not be conducive. He might feel that since you have taken a loan you may not come back and might work here(USA) to repay it. Again, he might not create any problem either. It's his sole discretion.
Anyway, i would recommend you to give it a try as i got it when i reapplied(with an educational loan). Just be prepared with a convincing answer when a question "How do you plan to repay your loan?" is asked. He should not get any trace/hint that you will be staying back at the USA after your studies.
Good Luck!!!
Regards, Giridhar MS in Electrical Engg.(Univ of Texas) (In the USA for 3 years)
