Bangalore: Aspiring to take an educational loan to gain an advanced degree? Be wary and cross check your decision multiple times before opting for an education loan. This is because, recent jobs slump has had an adverse effect on fresh grads with regards to employment. And in addition, the loan repayment troubles are rubbing salt on their wounds, as reported by Malini Goyal of ET Bureau.

Most students from modest middle-class backgrounds enroll in engineering and other courses in bid to earn big bucks. They opt for education loans and plan to re-pay the loans on completion of the course. But little do they realize that in an uncertain job market, it has become difficult even for the most qualified to land a lucrative offer and in the process they are finding themselves in a financial misery. Adding fuel to the fire is the cost of living in big cities, which is taking a toll on fresh grads.

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