Taking an educational loan to study abroad can be a bet with high issues. Without ensuring a job after the diploma, the financial burden can be overwhelming, leaving students trapped in debt and uncertainty.
A 27-year-old Indian graduate recently shared his painful experience on Reddit, detailing how his dream of studying in the United States turned into a financial nightmare. He obtained an education loan of 40 Lakh in 2022 to continue a master’s degree, but after having failed to obtain a job due to economic slowdowns and visa restrictions, he was forced to return to India, overwhelmed by overwhelming debt.
“My whole life will go into the simple surviving this crisis,” he wrote, describing how his family has exhausted his savings to support his education. His father, who headed a small manufacturing company, invested massively in his future, but financial pressure has led to the collapse of the company and falling the health of his father.
After the incessant job search in the United States for a year, the graduate returned to India, winning a job that pays 75,000 ₹ per month – almost entirely consumed by its monthly loan of 66,000 ₹. “It leaves me with only 9,000 ₹ to survive, support my family and manage everything else. We are a family of five, and we are barely holding,” he shared, expressing his emotional and physical exhaustion.
Desperate for a solution, he turned to Reddit to get advice. “I don’t know who to turn to. I tried to contact the bank for restructuring, postulated for parallel concerts and contacted the trustees and the NGOs – but nothing has worked so far. ”
The message has resonated with a lot, drawing favorable comments and practical advice. A user has encouraged perseverance: “Your income only rises from here. The amount of your loan only drops from here. It is the worst that it will be. Another has suggested the restructuring of debt as short -term relief: “Talk to lenders to increase permanence or reduce interest rates. If possible, make it a loan only for a year to obtain a certain breathing room. ”
Others have strongly advised to sell your family home. “Do not sell your house. Put all your energy to earn more money. In 3 to 5 years, you will recover. Continue to push. “
