India produces more than 300,000 management graduates every year, per AICTE data. Master of Business Administration (MBA) is one of the most sought-after education programmes in the country. A degree from a good institute can land you a dream job with good perks and hefty packages, taking away a lot of future financial uncertainties. However, it comes at a cost.
The average fee for a two-year management programme from an IIM (Indian Institute of Management) is around ₹25 lakh; it was ₹12 lakh in 2012-14. You or your parents may have savings, but given the galloping fees of B-schools, it might fall short. And if finances are not planned properly, the chances of getting an MBA degree from a
