Greetings Rajat!

Hope you're doing great.

First of all, getting into IIMs is tedious work and requires a lot of dedication, discipline and perseverance. And it's just not about money, the ROI of IIMs is quite decent. Suppose you get placed with an average salary of 24 lacs per annum then you can easily repay your loan in 3-4 years. Since you'll not be affected because of a decent salary you'll get in-hand. The institute pay you handsome package after the end of the course, I don't see the point why one shouldn't opt.

Secondly, the comrade that you'll make during your stay with a lifetime. IIMs is not just an institute it's a global brand and respect everywhere in the world. You'll be on a priority list wherever you go for the job opportunities. The institute provides a global connection, top business leaders visit the campus for guest lectures. All these facilities you cannot expect in any mediocre b-school in India.

However, there are business schools which offer and has the brand quality that of top IIMs such as FMS, the annual fee is around 1 lacs(according to the recent increase in fee on the official website). The ROI of FMS is considered to be the best in India. By investing just a few lac you'll land into a double-digit package after finishing out from the college. The average salary at FMS is around 21 lacs.

The choice is yours. You must be knowing about your potential and understanding. Hope you'll find it useful. Do reach out in the comment section if you need any help.

Have a wonderful day ahead!