How Ashish Paid Off ₹50 Lakh Education Debt in 1 Year as a Data Analyst in the 2023 Recession

Paying a ₹50 lakh (USD 60K) education debt in just one year is unheard of for most international students. Many take 5-7 years, struggling with rising interest and increasing pressure. 

Yet, Ashish did it in 12 months, despite:  

- Coming from a middle-class family.  

- Studying at Rutgers University (Newark campus), which isn’t an Ivy League school.  

- Graduating in 2023, one of the worst job markets in years due to hiring freezes and mass layoffs.  

(Note: Also watch this video on how Ashish became a Data Analyst in the USA, if you’re doing your masters in that domain or planning to do it)

So, how did he do it?  

This is a step-by-step breakdown of the exact strategy, timelines, and companies he mentioned during his conversation with me on my podcast.  

► Phase 1: Setting himself up for success 

Most students start thinking about repayments after they graduate. Ashish didn’t.
His strategy started before even landing in the U.S.  

→ 1. Choosing a University with High ROI 

While most students chase universities based on magazine rankings, Ashish picked Rutgers University (Newark campus) based on ROI.

— Selection Criteria:  

1. Total: ₹50 lakh (~₹40-42 lakh for tuition, ₹8-10 lakh for living expenses).  
2. Location: NYC was just 20 minutes away, a massive job market.  
3. Course Structure: A mix of analytics, machine learning, project management, and business intelligence, making him versatile for multiple roles.  

— Universities He Applied To:  

- Admitted: Rutgers, Syracuse, SDSU, Oklahoma State, Northern Illinois  

- Rejected: A few others he didn’t mention  

- Choose Rutgers because of its proximity to NYC, lower tuition fees, and industry connections.  

► Phase 2: Planning & minimizing expenses

Many students burn through their savings in their first year. While Ashish figured out how to cover his expenses before arriving in the U.S without using the saved amount.   

→ 1. Securing an On-Campus Job Before Landing in the U.S.  

- started applying for on-campus jobs in India itself.  

- networked with Rutgers seniors to learn about available positions.  

- applied through Rutgers job portal and sent emails to department heads.  

- landed a part-time lecturer position (a rare job for students).  

— Job: Part-Time Lecturer (Not a TA role!)  

- nstead of assisting a professor, he was in charge of teaching an entire undergraduate class.  

- Pay: USD 6,900 per semester (USD 1,150/monthly, paid bi-weekly).  

- This job covered his rent, groceries, and utilities, meaning he didn’t have to use his savings  for living expenses.  

► Phase 3: Landing a paid internship(Jan 2022 – May 2022)  

Most students focus just on coursework in their first semester and wait too long to apply for internships. Ashish started from day one.  

1. Job hunting strategy for internships (how he beat students with more experience)  

- customized every resume:
tailored each resume to match the job description, instead of mass applying. 

- direct outreach on Linkedin:
sent 50+ personalized LinkedIn messages daily to hiring managers. 

- referral strategy:
used the Rutgers alumni network to secure referrals instead of relying on job boards.  

→ Internship Details  

- Company: Richemont

- Role: Data Analyst Intern  

- Pay: USD 35 per hour (≈ 5,600/month)  

- Worked for 4 months = Earned ~₹18 lakh ($22K)  

Instead of spending, he saved 80% of his earnings for repayment.  

► Phase 4: Securing a high-paying full-time job (Aug 2022 – Jan 2023)  

Graduating in 2023 was brutal.  

- layoffs at Google, Amazon, and Microsoft.  

- hiring freezes in tech & other domains.  

- many international students struggled to find jobs.  

but Ashish didn’t panic, he adapted.  

→ 1. His full-time job-hunting strategy  

— Step 1: networking first, applying second  

- attended Rutgers career fairs to meet recruiters in person.  

- sent 300+ LinkedIn connection requests in a structured way.  

- focused on referrals instead of cold applications.  

> For every 100 applications he sent, he got 1 interview. So he sent 1,000+ applications.

— Step 2: behavioral & technical interviews  

- practiced data analyst case studies daily.  

- mock interviews with seniors & peers.  

- used the STAR method to structure answers (situation, task, action, result).  

→ Job Details  

- Company: Montblanc

- Role: Data Analyst  

- Salary: USD 107K/year  

- Location: NYC

► Phase 5: Aggressive repayment strategy (March 2023 – Feb 2024)  

After securing his full-time job, he didn’t upgrade his lifestyle.
Instead, he attacked his repayments.  

1. paid 70% of salary towards repayments:  

   - ₹4.5 lakh/month, directly toward the principal. 

2. lived like a student:  

   - no fancy purchases (no car, no unnecessary gadgets).  

   - rented a shared apartment (₹55k/month instead of ₹1.2 lakh for a private place).  

   - cooked at home, avoided expensive restaurants. 

3. more repayments  from freelancing:  

   - picked up consulting gigs in data analytics.  

   - ₹50k monthly went directly into repayment.  

> Every single rupee he saved, he put into his repayments. Within 12 months, it was gone.

Ashish did in 1 year while many others may struggle for a decade.  

That’s the difference between strategy and wishful thinking.

-Yudi J