- A woman repaid her 30 lakh IIM Calcutta MBA loan within two years post-graduation
- She worked two years before MBA to build savings and avoid relying fully on loans
- Received a pre-placement offer and took part-time jobs during MBA to pay fees
A woman who completed her MBA from the Indian Institute of Management (IIM) Calcutta has caught social media's attention after revealing how she managed to pay her education loan within two years. In a now-viral Instagram video titled, "I paid 30 lakhs IIM Calcutta MBA loan in 2 years', the young professional named Avani Rathore shared a detailed breakup of how multiple income streams and savings strategies helped her get rid of the financial burden.
As part of her four-pronged strategy, Rathore highlighted that she worked for two years before starting her MBA journey, which helped her build a financial cushion. This money helped her manage initial expenses without relying entirely on loans.
"Pre-MBA Savings: Before my MBA, I worked for two years. I didn't touch my investments (mutual funds, PPF, etc.) but used my liquid savings for my fee expenses," Rathore stated, adding that she did a summer internship as well where she was paid well.
After receiving a pre-placement offer (PPO) in the second year, Rathore began taking up part-time work alongside her studies. The extra income helped her pay the remaning fee.
Explaining that paying off the education loan was a marathon, not a sprint, Rathore said every little effort eventually added up. After completing her MBA, she managed to direct a significant portion of her salary towards loan repayment.
"Post-MBA Salary: Fortunately, I don't have dependents, so I could dedicate a significant portion of my salary towards loan repayment after graduation."
Check The Viral Clip Here:
Social Media Reactions
As the video gained traction, one of the social media users highlighted that Rathore would have been better off without paying the education loan.
"Technically, it is foolish to pay off your education loan early, coz of two major reasons: 1) Cheapest debt. 2) Income tax benefits. For personal peace, could be a wise decision," the user said.
Rathore responded, saying she agreed with the idea, but since she had to leave her job, clearing the education loan seemed like a prudent idea.
"I agree with you, it won't make sense from a purely financial pov. But I was going to leave my job and take the risk of starting up, without any certainty of a steady flow of income, so I wanted to tick this off. Because I didn't want it to hold me back from taking risks or falling back into a job just because of the pressure of a loan."
Others lauded Rathore for wiping the slate clean early: "Best decision to be honest. The earlier it's done, the merrier, according to me," commented another user.
