IIM Calcutta Graduate Shares Strategy to Repay ₹30 Lakh Education Loan in Just 2 Years
IIM Calcutta Graduate Reveals How She Paid Off Rs 30 Lakh Loan In 2 Years
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Avani Rathore, an MBA graduate from the Indian Institute of Management (IIM) Calcutta, has gained attention for paying off her ₹30 lakh (approximately $36,000 USD) education loan within two years. She utilized a combination of pre-MBA savings, part-time work during her studies, and a significant portion of her post-MBA salary to achieve this financial milestone.
- 01Avani Rathore paid off a ₹30 lakh education loan in 2 years.
- 02She built a financial cushion by working for two years before her MBA.
- 03Rathore utilized part-time work and a pre-placement offer to manage expenses.
- 04She directed a significant portion of her salary towards loan repayment post-MBA.
- 05Social media reactions varied, with some praising her decision to pay off the loan early.
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Avani Rathore, a graduate of the Indian Institute of Management (IIM) Calcutta, has shared her inspiring journey of repaying a ₹30 lakh (approximately $36,000 USD) education loan within just two years. In a viral Instagram video, Rathore explained her four-pronged strategy which included saving money from her two-year work experience prior to her MBA, using her liquid savings for initial expenses, and taking up part-time work during her studies. After receiving a pre-placement offer in her second year, she managed to generate additional income, which contributed to her loan repayment. Rathore emphasized that the process was a marathon, not a sprint, and dedicated a significant portion of her post-MBA salary to clear the debt. While some social media users questioned the wisdom of paying off the loan early, Rathore defended her decision, stating that it allowed her to pursue entrepreneurial opportunities without the burden of debt. Her story has resonated with many, showcasing the importance of financial planning and discipline in managing education loans.
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Rathore's approach to loan repayment can inspire other students and young professionals to adopt similar financial strategies, emphasizing the importance of savings and income diversification.
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