One cannot really compare the enriched experience and worth of old IIMs to the newer ones. No matter how high grades you score in the older IIMs, they can never be at par even with the average marks of an old IIM student. Their skills, knowledge, and confidence are at another level. Older IIMs help you achieve bigger goals and earn much more. So it’s better if you are an average student at an old IIM than a topper at a new IIM.

The general answer would be no, it’s not recommended you join the textile branch at NIT Jalandhar. However, you can join it under certain scenarios like:

• If you have plans of moving abroad and pursuing it further. Because in India there is little scope for this course.

• If you are planning to change your branch after a year by internal sliding. But for this, you should get an excellent CGPA (above 9).

• If you plan to sit for CAT or UPSC then the branch does not really matter.

• If you don’t want to drop out.

In every other case, I’d recommend you join a lower-ranked NIT but in a better branch than textile. Don’t just go for rankings. The branch is also crucial.

All the IIMs offer great educational loans so financial problems are not a major issue here. Many banks are lined up to offer loans at very low interest to the students at the time of admission. The ROI is also great compared to DBE. Apart from that the IIM tag will also open multiple opportunities for you. But if you are confused about the 3 IIMs, I will enlighten you about the culture of each. This might help you make a better decision.

IIM Udaipur: Academic rigor

IIM Raipur: Discipline

IIM Kashipur: Overall rigor

So make the choice based on your own preferences.

Whether taking a loan is a wise decision or not depends on an individual's situation. For instance, you take a loan and even get a package that is enough to repay the loan but you are placed at a remote location. Then the additional expenses become a hindrance. So one cannot say with certainty if it’s worth taking a loan or not as it’s a subjective issue.

Another thing that often strikes me is that if you get an admission after taking a huge loan you are under a certain pressure to land a high-paying job. Your entire energy and efforts are focused on getting placed at a good firm rather than acquiring the essential knowledge that will improve your profile and help you in the long run. Throughout the two years, your agenda is not to learn management skills and concepts but to score better so as to get placed. With placement being the only goal, you often fail to make the best use of the available opportunities.

Once the placement season starts your desperation is at its peak. In case you don’t get placed in the initial month your mental and physical health is affected. So the pressures stemming from a single loan is long-lasting and can devalue the experience of your MBA. 

So either you need to learn to survive under extreme pressure or not join IBS Hyderabad after taking a loan.

The answer depends on your percentage and work experience. 

My personal suggestion would be to forego the offer and give IIM C another chance. This answer is based on personal experience so might not be applicable to everyone. Only forego the offer if:

• You are confident that you can score around 99% again the next year

• You add more work experience in the meantime

The key is that if you are foregoing the offer, use the entire year to acquire new skills, gain work experience and upgrade your CV. The decision will be your own. But make sure you accept the results next year without any regrets.