How an IIM Lucknow alum cut her ₹40 lakh MBA loan to ₹17 lakh with side hustles
Sharing a detailed breakdown of her MBA expenses, Sneha Baidya said the total cost of her education came to around ₹28 lakh.
Clearing an education loan is often treated as a long-term financial commitment, usually spread over several years. However, one management graduate's experience is now drawing attention after she revealed how structured financial planning helped her reduce a ₹40 lakh education loan to ₹17 lakh.
IIM Lucknow graduate shares MBA loan journey
Sneha Baidya, a graduate of the Indian Institute of Management (IIM) Lucknow, shared how she reduced her MBA loan in a video posted on Instagram, which has now gone viral. She explained that her primary financial support came from her parents, while she also earned money through her summer internship, live projects, and freelancing.
MBA expenses totalled around ₹28 lakh
Sharing a detailed breakdown of her MBA expenses, Baidya said the total cost of her education came to around ₹28 lakh. According to her post, each term fee was approximately ₹3.25 lakh, while mess charges were around ₹24,000 per term.
Baidya also spent about ₹3 lakh on miscellaneous expenses, including admission-related costs, and another ₹3 lakh on daily expenses such as commuting, eating out, trips and costs incurred during her summer internship, which was in a different city.
She calculated her overall expenses as follows:
- Term fees: ₹3.25 lakh × 6 = ₹19.5 lakh
- Mess fees: ₹24,000 × 6 = ₹1.44 lakh
- Miscellaneous expenses: ₹3 lakh
- Daily and internship-related expenses: ₹3 lakh
- Total estimated cost: Around ₹28 lakh
- Sneha said her parents contributed about ₹4 lakh towards her education.
Summer internship and side hustles helped reduce loan
Explaining how she kept her loan burden low, she wrote: "My earnings through my summer internship, live projects and freelancing were crucial during my MBA journey. I wanted to minimise my loan amount. Hence, even after receiving a PPO, I took up side hustles to earn extra."
According to Sneha, the additional income she earned during her MBA played a key role in reducing her education loan.
Here's how social media users reacted:
Her post has since received several responses online. Here are some of the reactions:
One user wrote: "Did you face any problems while repaying the amount?"
Another asked: "Did you ever struggle financially while repaying your loan?"
A third user commented: "Not possible at IBS Hyderabad."
A fourth user said: “Really helpful post.”
Disclaimer: (This article is based on social media-generated content and is intended only for informational and educational purposes. Live Mint couldn't independently verify its claims and doesn't endorse them.)
About the Author
Kanishka Singharia is a Senior Content Producer at Mint with a passion for news, trends, and the stories shaping the digital world. She specialises in spotting viral narratives by constantly tracking social media platforms and turning them into engaging, reader-friendly stories. Her work ranges from fast-paced breaking updates to sensitive human-interest features, blending speed with clarity. <br><br> With over four years of experience in news and trend reporting, Kanishka has worked with leading organisations such as Hindustan Times and Times Now. She moves seamlessly between profiling business leaders and telling the stories of everyday people, covering national developments just as effortlessly as the memes and conversations that dominate online culture. <br><br> She also reports on real estate developments and civic challenges in major urban hubs like Bengaluru, Delhi, and Gurugram. Her coverage frequently explores the struggles of startup founders, inspiring journeys of CEOs, and the experiences of candidates dealing with the complexities of visa processes. <br><br> Kanishka holds an undergraduate degree in Journalism from Delhi University and a diploma from the Indian Institute of Mass Communication. Rarely offline, she spends much of her time scrolling through X, LinkedIn, Reddit, Instagram, and Facebook in search of the next big story. When she finally logs off, she enjoys binge-watching shows and exploring cafes in pursuit of good food and better conversations.
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