Nepal farmer’s son gets into IIM-Ahmedabad but struggles to secure education loan

AHMEDABAD: He considers himself as destiny’s child – this son of a farmer with negligible land holding in Nepal has made it to the big league with admission in IIM-Ahmedabad (IIM-A).
But for Aashik Jayswal, 24, the road to PGP course in Farm and Agri Business Management (PGP-FABM) is still turbulent. His course fee is Rs 24 lakh and he is struggling to secure an educational loan to pay up the first semester fee amounting Rs 3.87 lakh before the deadline of July 31.
The humble boy had thought that cracking the CAT it would be a cake walk to secure an educational loan for studies in the prestigious IIM. It turned out to be a tough challenge. “Because of my nationality, I could not secure a loan from the campus. I tried getting a loan from banks in Nepal but we were told we did not have enough collateral to get a loan for the hefty sum. I reached out to a few Saarc nation alumni from the course and got to know that they either took loan or managed the finances in other ways as the fee was comparatively lower,” he adds.
His mentor, Abhishek Shrivastava, came to his rescue and put his story online. Jayswal got overwhelming response from many IIT and IIM alumni who even offered to crowd-fund his initial education. “But I am adamant – I have come so far on my merit and thus I would not want charity – I would explore scholarships instead,” says Jayswal. As on July 24, he is yet to secure a financial backing.
Jayswal, however, is thankful for the overwhelming support. “Even at IIM-A, the faculty members and alumni have come forward in their personal capacity and assured me not to worry about the first term at all – I should focus on studies and apply for scholarships,” says Jayswal. “But Rs 24 lakh is a no small amount, and I am looking for a long-term solution.”
Jayswal’s father Jayprakash still lives in his native Dahiyar village in Mahagadhimai municipality and pursues farming along with part-time work as teacher, whereas his mother is a house wife. One of his younger brothers is pursuing medical studies in Nepal.
‘Was determined to get into IIM-A, so tried again’
Aashik Jayswal says, “I was a good student from the start and after class X, made it to St Xavier’s Junior College in Kathmandu, which is considered to be one of the best colleges. I had taken science stream, but I was sure that I did not want to pursue medicine or engineering – I wanted to work in the farming sector. Thus, I had applied to a local agricultural technology college and had also applied for scholarship at the Indian Embassy.”
He came to India and got admission on scholarship at Sam Higginbottom University of Agriculture, Technology and Sciences (SHUATS), Prayagraj, for his B.Tech (agriculture).
During his studies, he was inspired by his seniors who were appearing for CAT to pursue MBA in agri management or allied fields.
“In 2019, I sat for CAT for the first time and did not score very well. However, I got calls from IIM-A and IRMA. I was on the wait list for IIM-A. But I was determined to get into the premier B-school and tried again. This year, I was better prepared in terms of facing the interview and made it to the dream school,” Jayswal recounts.
When TOI approached IIM-A, the officials mentioned that the IIM-A community members and alumni are with Jayswal in personal capacity.
‘The Institute aspires to allow pursuing its programmes (PGP & PGP-FABM) to all eligible applicants irrespective of their financial status. Keeping this in mind, IIMA has instituted a Special Need-Based Scholarship Scheme to complement the various scholarships provided by the industry and government, which the students can apply for once they join the course,’ mentioned an official email, indicating that he can receive it based on merit once he joins the first semester.