Sneha Baidya, an Indian Institute of Management (IIM) Lucknow graduate, cut her ₹40 lakh MBA education loan to ₹17 lakh through structured financial planning and side hustles, she revealed in a video shared on Instagram. The total cost of her MBA education was around ₹28 lakh, according to her detailed breakdown shared publicly, as reported by livemint.com.
Baidya explained that she managed to reduce her debt significantly by supplementing her income with various side hustles during and after her MBA. She emphasized the importance of budgeting and disciplined repayment strategies to tackle the loan faster. Her approach included prioritizing high-interest payments and leveraging part-time work opportunities to accelerate loan clearance.
The case highlights the growing trend among Indian management graduates to actively manage education loans amid rising tuition fees and living expenses. With MBA costs often exceeding ₹25 lakh at premier institutes, Baidya's example offers a practical roadmap for students facing similar financial burdens. This contrasts with the typical long-term repayment plans that can extend over many years.
The video post by Baidya has garnered attention on social media platforms, inspiring other students and graduates to explore alternative income streams for loan repayment. Her experience underscores the financial challenges faced by MBA students and the potential of side hustles to ease debt pressures.