“EMI is 66,000 dollars, the salary of $ 75,000”: Fintech is a warning story on study loans

A young man got a $ 40 loan to follow a master’s degree in the United States, hoping to have a profitable job after graduation. Instead, he returned to India a year after the search and settled a job of $ 75,000 a month.

With EMI per month worth $ 66,000, nearly 88 % of his salary disappears immediately – leaving him at $ 9,000 to survive. The Fintech founder in Bangaluru, Bramech Khana, shared this account on LinkedIn, describing it “a financial crisis-where the income is very low so that the costs of living and living cannot be covered, which leads to tension and risks such as failure to pay the loan.”

Khanna explained that this position highlights the blatant incompatibility between the costs of education and the results of the real labor market. He pointed out that when 90 % of income is converted towards EMIS, individuals may end up borrowing more just to meet the basic expenses.

According to him, international grades are no longer expensive to guarantee high -paying roles, especially among visa restrictions, industry saturation, and slow global economy. He warned of this, the consequences go beyond financial affairs – often tracking football stress, anxiety and tense personal relationships. Worse than that, the failure of such loans can harm the degree of credit for years, and if the family members participate in signing the loan, their financial health is also at risk.

Khanna was clear in his position: he would be very careful before he carried such a huge loan. He advised to conduct a comprehensive analysis of the return on investment, and to explain the realistic salaries expectations in both India and abroad. I suggest considering low -cost alternatives, high -millstalls such as European public universities or the best Indian institutions such as IITS and IIMS.

According to khanna, only 66,000 dollars should be only 30-40 % of post-education income, which implicitly means that the monthly salary is at least $ 1.65 for a necessary. It was also recommended that there is a backup box covering 6-12 months of expenses or creating a submitted side income.

To manage or escape from this crisis, Khanna has identified many strategies. He advised to re -negotiate loans to extend the possession period and reduce EMI’s burden – for example, a $ 40 loan will make $ 10 % over a period of 15 years to an EMI drop from $ 52,900 to $ 43,000. The completion of income through free work in technology, marketing or consulting may add $ 20,000 – $ 30,000 per month.

Khanna also suggested lowering the cost of living by moving to more affordable cities, renting rent, and using public transport. For those already registered, he confirmed the application for grants and grants to a merit. He said that walking in fields such as artificial intelligence or data science can create better job opportunities. Wherever possible, family support can help bridge the gap. In addition, Khanna stressed the importance of developing alternative skills that open unconventional or unorganized work options and side -flower.

To enlarge, I noticed that the education loan in India increased by 11.4 % in 2023, a sign that many students are struggling with payment. Total educational loan debt in India is 1.2 Cruisted Cohr Cruise, while the United States is facing the 1.7 trillion dollar student debt crisis – an indication of the spread of this problem.

“This story is a warning story,” Khanna concluded. “Educational loans can open the doors or become a lifelong burden if taken without appropriate planning.”