Student Faces Debt Crisis After US Education Loan

A student who borrowed Rs 40 lakhs for a Master’s degree in the United States is now grappling with overwhelming debt and personal challenges. Sharing his story on Reddit, the user, known as The Tech Philosopher, detailed his struggles to find employment after completing his studies amid economic downturns and visa restrictions. With his family’s financial support dwindling, he has returned to India, burdened by debt and uncertainty.

Struggles of an Ambitious Student

In 2022, The Tech Philosopher took a significant step towards his dreams by securing an education loan of Rs 40 lakhs to study in the US. His family, including his father who ran a small manufacturing business, invested all their resources—both emotional and financial—into supporting his aspirations for a brighter future. However, the journey proved to be far more challenging than anticipated. Despite earning his degree, he faced a tough job market characterized by an economic recession, strict visa regulations, and a lack of internship opportunities for international students.

For an entire year, he applied for numerous positions but struggled to secure even a basic income. “I applied relentlessly for a year, but couldn’t even earn enough to cover my own living expenses,” he lamented. His family had to send him money monthly to help with basic needs, which drained their savings. The situation worsened when his father’s business collapsed, leading to his father’s illness, leaving the family unable to support him any longer.

Returning Home with Heavy Burdens

Heartbroken and jobless, The Tech Philosopher returned to India, facing the harsh reality of his financial obligations. After months of searching, he finally landed a job in India with a monthly salary of Rs 75,000. However, the burden of his education loan loomed large, with an EMI of Rs 66,000, leaving him with a mere Rs 9,000 for personal expenses.

Despite the family business recovering, he finds himself emotionally and physically drained, trying to balance his day job with the responsibility of caring for his ailing father. “I’m trying to pick up extra freelance or part-time work, but it’s exhausting,” he shared. The pressure of merely surviving this financial crisis weighs heavily on him, as he reflects on how his family’s modest middle-class status has been upended.

Seeking Guidance and Support

In his Reddit post, The Tech Philosopher expressed feelings of isolation and desperation. “I don’t know who to turn to anymore,” he wrote, highlighting his attempts to contact the bank for loan restructuring and seeking additional work opportunities. He reached out to the Reddit community for advice, guidance, or connections to organizations that assist individuals in similar situations.

His heartfelt plea resonated with many, as the post quickly gained traction online. Supportive comments flooded in, with users offering practical advice on finding freelance work and encouraging him to gain experience in his current role before considering a job switch. “Switching jobs increases your package, so if you are earning Rs 75,000 today, you will end with higher packages later on,” one user suggested, urging him not to lose hope.

A Community Rallying for Change

The Tech Philosopher’s story has sparked a broader conversation about the challenges faced by students who take on significant debt for education abroad. His experience highlights the precarious balance between ambition and financial stability, especially in uncertain economic climates. As he navigates this difficult chapter, the support from the online community serves as a reminder of the importance of solidarity in times of crisis.

With many sharing their own experiences and offering encouragement, The Tech Philosopher’s journey has become a rallying point for those facing similar struggles, emphasizing the need for resources and support systems for students burdened by educational debt.

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