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study now or support my family. feeling dead from inside

 
 
iamdead
 
Reply Sun 21 May, 2017 01:22 am
Sir, i have a dilemma.

My financial condition is not sound. I have no family business. I belong from a very small town In Uttar pradesh, India.
all my total family saving is not sufficient enough to pay foa r year hostel fees.
I am getting admission in ITM business school navi mumbai/ MS ramaiah.
If i take admission to the college, I'll have to take a loan of 1000000 inr.
I dont know whether i ll be getting a loan or not. If in case i got a loan, i will have to mortgage my home(the only property our family owns).
We manage our family expenditure through the rent we get from the house.

I don't know what to do at this point of life. Should i take a loan or do something else?
IF i look for other options, what ca be those options?
I want to choose a progresssive career. I don't want to do a call centre job.

If i study on loan , the emi after two years will be around 22-23000 inr.
Will i be to repay it?

What should i do?
 
View best answer, chosen by iamdead
roger
 
  3  
Reply Sun 21 May, 2017 01:35 am
@iamdead,
I would have to opt for supporting the family, but I live in the United States. We have way too many graduates who can't find work related to their education. You will have to judge the situation in India for yourself.

If I were married, and especially if I had children, there is simply no way I would mortgage the family home in hopes of an education that would both pay back the loan and support the family.

That's speaking for myself. Your whole situation is known only to yourself.
iamdead
 
  1  
Reply Sun 21 May, 2017 01:42 am
@roger,
here in India MBA degree is must if you want to get a good job.
If i mortgage the house for loan, and will not be able to pay after completion of my course? And if i Don't pursue mba, there are no jobs for a commerce graduate. All i can get a teaching job of 4000 inr a month. I don't know what to do
I see myself, i'm good for nothing.
roger
 
  3  
Reply Sun 21 May, 2017 01:45 am
@iamdead,
You're far from being good for nothing, but you do have a decision to make. It's a cost/benefit type decision, so gather the information and make your decision.
iamdead
 
  1  
Reply Sun 21 May, 2017 01:54 am
@roger,
I always try to do things of my own.
But at this point i'm clueless.
As the college is showing their minimum package is around 3,50000inr p.a. If i get, i won't be able to repay my loan.
But if i get a package of 600000 inr, i can repay it.
If i don't pursue it at all. Then also i won't be able to support my family.
I don't know what to do.
iamdead
 
  0  
Reply Sun 21 May, 2017 02:21 am
@iamdead,
WILL SOMEBODY HELP?
0 Replies
 
jespah
 
  3  
Reply Sun 21 May, 2017 12:44 pm
@iamdead,
Get a job now, save money, and go to school later, just like thousands of people have done before you.
PUNKEY
 
  1  
Reply Sun 21 May, 2017 01:01 pm
Who is in the family? Can anyone else work?

iamdead
 
  2  
Reply Mon 22 May, 2017 01:08 am
@jespah,
India isn't like foreign countries.
Being a commerce graduate. i'll get a job of around 5000 inr a month.

How would i save 1000000 inr ?
N how would i help my family in this much amount.
iamdead
 
  1  
Reply Mon 22 May, 2017 01:12 am
@PUNKEY,
Father mother and me.
Our expenses are being managed through the rent we get from house.
I have a elder brother too but he doesn't help us instead he and his wife is asking for his share in the rent.
0 Replies
 
PUNKEY
 
  1  
Reply Mon 22 May, 2017 06:32 am
I am confused about your situation.

There are several people in the home and no one works? Instead you all support yourself from the rental home? And you think you want to mortgage your home to finance an education? Is this what is going on?

I suggest you get a part-time job, go to school part time. Many people have earned their degree this way. You have a place to live and food to eat. This helps the situation.

Whose name is on the deed for the rental home and who takes care of it? Only those who own the home and do maintenance should reap the benefits from the rental money. Why does your brother claim any right from the rental?





jespah
 
  1  
Reply Mon 22 May, 2017 07:08 am
@iamdead,
Then you will need to find a less expensive school, go part time like Punkey suggested, that sort of thing. And you should not be the only person making money in the household. You're the son, not the husband. Even in super-traditional societies, you would not have the burden at 100%. Someone would help - so ask - and push if you have to.

Want this dream to come true? Then you have to be proactive. I'm sorry it is hard and I am well aware that this is not what you would prefer to be doing.

But right now, you don't have the luxury of preference.
iamdead
 
  1  
Reply Mon 22 May, 2017 07:13 am
@PUNKEY,
Brother, people don't have any work here specially in a small town like ours.
There are no companies. People who are rich are involved in business, rest depend on agriculture and setting up a new business requires huge money.
Being a commerce graduate what i can get is a teaching job in a convent school which will give me 5000 inr a month.
If i work under a chartered accountant, he will offer me 4000 inr a month maximum.
We didn't use to be as poor as we are now. My father had a business of transportation. But severe losses made us stop that company. Not just losses, my brother used to work with my father. Whatever left with us, he took away everything and now we are left with no money. From last 10 years when i was in 7th standard, our family business has shut down. Three of us depend on rent only. I had to opt for commerce instead o engineering because of the huge difference of fees.
Now i have grown up, want to do something for my parents.
Only option is to pursue MBA in order to get a good job. But for that i'll have to take a loan. I don't have money.
rest you know..

ekename
 
  1  
Reply Mon 22 May, 2017 07:21 am
@iamdead,
Emigrate.

The world is yours for the asking.
iamdead
 
  1  
Reply Mon 22 May, 2017 07:23 am
@jespah,
There are no low fees business schools here.
There are more than 3900 business schools in India, until and unless, you manage to get your degree from a top school, you don't get a job here.
And there is a huge rush seeking admission .
Almost every top college has a high fees.

and if go for a part time mba, it has no value here.
Millions of people holding regular degree are awaiting for job.(they did just one mistake, they completed their degree from a normal college, plus they don't have any Godfather to help them to get a job)
0 Replies
 
iamdead
 
  1  
Reply Mon 22 May, 2017 07:25 am
@ekename,
leave home and do what?
stay?
eat?


Is it that simple to emigrate?

You know you guys are too lucky, a facebook friend of mine who is just a paramedic works in ambulance has saved enough in a year that from last 4months she is on vacation in India.

DO You know what if one had the same job here i India. He would have hardly able to support his basic needs.
ekename
 
  1  
Reply Mon 22 May, 2017 08:03 am
@iamdead,
Quote:
Is it that simple to emigrate?


You'll never ever know if you never ever go.

Do you think it's easy here with our first world problems like which restaurant for lunch, where to park, and who to vote for?
iamdead
 
  1  
Reply Mon 22 May, 2017 08:27 am
@ekename,
Easy to say brother.
By staying here when i'm not able to figure out what to do and you are asking me to leave home and start from zero.
Before thinking of what to do with my life, I would have to think where to stay, and what to eat.
Sounds easy than doing it.
iamdead
 
  1  
Reply Mon 22 May, 2017 08:30 am
@iamdead,
How will I get a job there?
and who is going to pay for tickets, visa expenses,shelter , food, etc.
Brother, everything seems easy when you have money.
0 Replies
 
iamdead
 
  1  
Reply Mon 22 May, 2017 08:47 am
@ekename,
If I had someone to advice me, I wouldn't be here.
 

 
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