'20-year education loan, completed in 3': Techie's debt-free milestone goes viral

A Reddit post about financial discipline, perseverance and paying off debt early struck a chord with social media users, with many praising the young professional who said he paid off his student loan in just three years despite being given a repayment period of up to 20 years.

A post shared on Reddit’s debt-related community described a user’s journey from getting an education loan to finance a BTech degree to becoming debt-free shortly after starting their career. Posted 21 hours ago, has over 500 upvotes and several comments.

The user described the achievement as emotional, explaining that his family was unable to pay for his college education when it came time to pursue engineering.

“Relatives retreated”

“This is a little emotional for me,” the Reddit user began.

“When my B Tech time came, my family had no money. Relatives who could have helped us backed out when we needed them the most. So I stopped waiting for anyone and took the loan myself.”

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The user stated that the bank approved an education loan of approx ₹5.29 million. However, since he received a scholarship, he decided not to withdraw the full amount.

“The bank sanctioned around 5,29,417/- but I didn’t take the entire amount. I had a scholarship so I only took what was really needed. It was around 3,00,251/- with interest,” he wrote.

According to the post, the user’s repayment journey began soon after graduating from college.

“Right after finishing college, at the age of 23, I got a job, an internship for about 25,000. From there, my journey began.”

The user said he regularly makes extraordinary payments whenever possible rather than sticking to scheduled repayments.

Apart from the education loan, he also repaid another loan that his father took from relatives.

“I also paid off one loan my father took from relatives early. After everything that happened, I didn’t want them to be left with anything.”

It seems that the main motivating factor in the whole process was the determination to become completely debt free.

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“Loan for 20 years, done in 3”

The moment that prompted the Reddit post came after the final payment was made.

“And today I paid the last amount. Loan for 20 years, done in 3. No EMI now, I owe nothing to anyone. Debt free at the start of my career.”

The user added: “I just wanted to share this with people who will understand.”

As questions began to pour in about the numbers in the post, especially how roughly the loan ₹3 lakh could have a repayment period of up to 20 years, the user later added further clarification.

“Since many people have asked about it ₹3 lakh and 20 years tenure, I have added screenshots of the loan and tenure details in the comments for transparency.”

In another clarification, the user explained the loan calculations in more detail.

“The loan was for a total amount of 529417 and the initial interest was 8.85 percent and maxed out at 12-13 percent because of the repo rate which I found out later. I mean they kept the scenario that I would withdraw the full amount and then that was it.”

Reddit users react

The story sparked a wave of supportive comments, with many users sharing similar experiences or congratulating the poster on achieving financial freedom at an early age.

One user explained why such loan structures are common in India.

“Since the OP is from India, the loan is approved by the government for the B Tech degree he is talking about, and the repayments are made to secure and enable payments in the long term.”

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Another commenter, who is preparing to start engineering studies, said the story was particularly inspiring.

“Brother, I just turned 18, probably starting my Btech this year. Even though I’m financially blessed enough to pay for my studies, I feel how you must have felt. And it’s so good to hear that you did it all on your own. God bless you in the future! All the best!”

Others related to the burden of long-term debt in education.

“I applied for a 25l education loan at 22 and now I’m 27 and still waiting for 13.98l. Got you bro! Good job, enjoy your full salary,” another user wrote.

Several commenters also offered advice on the next phase of the poster’s financial journey.

“Great, now don’t think the loan is over, instead start investing the same amount and think of paying the same loan for the next 20 years. The great thing is that instead of losing money, you’ll be making money,” suggested one user.