115k CRL rank, 19k EWS Rank (Bihar) - 66.2% 12th (Dropper) - LPU B.Tech CSE Seat (7 Lakhs Loan, Refundable with 1k Deduction) - Help!

Ans: 1. Academic Background:

Secured 1,15,000 CRL rank and 19,000 EWS rank.
12th percentage: 66.2%.
You are a dropper.
2. Educational Choices:

Booked a seat in LPU for B.Tech CSE.
Need to take a loan of Rs 7 lakhs.
Seat booking price is refundable with a deduction of Rs 1,000.
Financial Assessment
1. Loan Implications:

A loan of Rs 7 lakhs will accrue interest over time.
The repayment period may extend several years post-graduation.
Monthly EMIs could be a financial burden, especially at the start of your career.
2. Earning Potential:

B.Tech CSE graduates generally have good earning potential.
Research the average starting salary for LPU graduates in CSE.
Compare this with potential EMIs to assess affordability.
Alternative Options
1. Re-evaluate Other Colleges:

Consider other colleges with lower fees.
Look for government colleges or other private colleges with scholarships.
Utilize your EWS rank for potential advantages in admissions.
2. Cost-Benefit Analysis:

Compare the long-term benefits of the degree from LPU against the debt incurred.
Factor in job placement rates, average starting salaries, and career growth.
Financial Advice
1. Avoid Excessive Debt:

High student loans can impact your financial stability post-graduation.
Opt for a college with a balance of good education and lower fees if possible.
2. Scholarships and Financial Aid:

Apply for scholarships based on merit and need.
Explore financial aid options specific to your situation.
3. Part-Time Work:

Consider part-time jobs or internships during your studies.
This can help manage living expenses and reduce reliance on loans.
Decision-Making
1. Pros and Cons of LPU:

Pros: Good facilities, diverse student community, strong CSE program.
Cons: High cost leading to significant debt.
2. Explore All Options:

Revisit other colleges and financial aid possibilities.
Assess the return on investment for each option.
Final Insights
Prioritize minimizing debt while ensuring a quality education. Explore scholarships and part-time work opportunities. Make an informed decision based on thorough research and financial planning.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner,

www.holisticinvestment.in