A student who took an education loan of Rs 40 lakh to study abroad, found himself a debt-ridden, struggling to end, and supported a sick parent. Taking in reddit, a user named Tech Phiopsopher shared his struggles in a long emotional post. He revealed that he took a loan of Rs 40 lakh in 2022 to get his master’s degree in the US. His father conducted a small manufacturing business, and with his family, he put every task he had done emotionally and financially – to help in “chasing a better future dream”.
However, the user said that despite completing its degree, they faced important challenges in gaining employment in the US due to economic recession, visa sanctions and limited internship opportunities for Indian students. He said, “I applied continuously for a year, but could not even earn enough to cover my own living expenses. My family sent me money every month so that I could eat – remove their final savings,” they shared.
I took an education loan of 40L to study in America – now I am back to India, I am drowning in debt, and do not know what to do
ByU/Thetechphilosopher InIndia
Eventually, his father’s business collapsed, and his father fell ill. The reditor wrote, “They could not support me anymore, and I had to come back to India, heartbreak, unemployed, and with a huge debt on my head,” the Redrit wrote.
Then, after the discovery of a month’s job, he obtained a post in India with a monthly salary of Rs 75,000. However, “My EMI is Rs 66,000/month. It leaves me as personal savings with just Rs 9,000, now the business is running and it can support the family, and handle everything else,” he shared. “I am trying to work additional freelance or part -time, but amidst my day’s job and the declining health of my father, I am emotional and physically dry,” the user wrote.
OP realized that his life is consumed to avoid this crisis. “We were a minor middle class family … and now we are on the shore,” he said. “I don’t know who to change now. I am trying to contact the bank for restructuring, have applied for side gigs – but have not done anything yet. So I am here: I am asking reddit for advice, guidance, or if someone knows about individuals, or organizations that help people in such situations,”
“If you are through something similar or know someone who can help – even just to talk – I will be very grateful,” he concluded his post.
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Since shared, the post has gone viral. “Try to find freelance work over the weekend and get experience from Ur Current Job and after 1 or 1.5 years switch UR job. Switching jobs grows ur package, so if you are earning 75000 then you will be finished with high packages later today. Just do not believe in disared N URSLF.
“Try to find freelance work on weekends and get experience from your current job and after 1 or 1.5 years, switch your job. Switching jobs grow ur package, so if you are earning 75000 today, you will end with high packages later. Just don’t be disappointed and believe in yourself.”