India US Education: An Indian graduate who wanted to pursue higher studies in US got into big financial trouble, when he decided to study abroad. In 2022, the 27-year-old took a ₹40 lakh education loan to pursue his Master’s degree in Management Information Systems. His family — most noticeably his father, who owned a small manufacturing business invested significant emotional and financial capital in this endeavor.
The graduate, although obtaining his degree, faced the challenge of finding a job back in the U.S. with the economic recession, visa restrictions, and the limited availability of college intern opportunities for international students, the job seeker faced a noteworthy challenge. He applied again and again for a year but couldn’t make enough money to afford to live there. As a consequence, his family would have to remit money every month to sustain him, rapidly depleting their savings.
Things changed when his father fell ill and his business started losing money and the family could no longer support him. This sent the graduate back to India, shellacked with a lot of debt and no job.
For months, he applied for jobs in India, then finally got a job offer for ₹75,000 a month. But his loan repayment is ₹66,000 and the amount left for personal expenses is only ₹9,000. He has tried to seek more freelance or part-time work so he can help support his family, but navigating those work opportunities, his job and caring for his family is taking a heavy emotional and physical toll.
This tale underscores the financial risks of pursuing a college degree abroad, especially when employment opportunities don’t materialize. It is a warning to prospective international students to assess the local economy, visa regulations and job availability of the country where study is planned.
