Finance World

Episode 77: The Collateral Child — When Parents Mortgage a Future They Don’t Understand

Series: Broken by Burden: Financial Survival Strategies for the Troubled Mind

Date: 16 Sept 2025

🎭 A Degree of Debt, A Lifetime of Doubt

Setting: A rural village near Bhagalpur, Bihar. The story of Aditya Kumar — the boy who was told he was a dream, only to learn he was collateral.

👪 Characters

  • Aditya Kumar (19): A brilliant but socially shy boy from a Hindi-medium government school. Loves electronics, especially repairing old radios.
  • Mohanlal Kumar (45): Aditya’s father. A marginal farmer who owns just 1.2 acres of ancestral land. Believes a degree guarantees a government job.
  • Savitri Devi (42): His mother. Emotionally intelligent, grounded. The first to sense something’s wrong.
  • Rajveer Sir: The slick-talking private college admission agent who runs a “career consultancy” from Patna.
  • Principal Dheeraj (Name changed): Head of the semi-recognized engineering college in Greater Noida.
  • Ramesh: Aditya’s roommate — a boy from Rajasthan who shares the same fate.

🏡 The Hope That Sold Their Land

Mohanlal had only one dream: “My son must wear a tie to work, not a gamcha.”

When Aditya scored 78% in Class 12 (BSEB board), villagers cheered. No one in their tola had passed with first division in science stream before.

Then came Rajveer Sir, dressed in a shiny suit with flashy brochures.

Rajveer:
“Sir, just ₹2.5 lakh one-time. The college in Greater Noida will get him placed in Infosys or TCS. 100% guarantee.”

They didn’t ask for proof. They asked for hope.

Mohanlal mortgaged the land — the only land that grew rice, fed their cattle, and was to be Aditya’s inheritance.

Mohanlal (to Savitri):
“Ek baar engineer ban gaya toh teen lakh toh mahine ka kamayega. Sab theek ho jayega.”

🚌 The Glitter and the Grime

Aditya boarded the train with one bag and a thousand expectations.

But the reality in Greater Noida College was different:

  • Labs didn’t work.
  • Professors barely showed up.
  • 80% students came via “consultants”.
  • Placements were limited to call centers.

Ramesh (whispering):
“Mere Papa ne 3 lakh diye the Rajveer ko… pata chala college ka AICTE approval bhi lapse kar gaya tha.”

Aditya cried only once — when he couldn’t repair a broken circuit due to no practical equipment in class.

📉 The Collapse

In the fourth semester, the fake “placement” fair was exposed:

  • Companies were listed as “Googlea Tech” and “Infosix”.
  • Interviews were conducted in the basement by part-time MBA students.
  • A boy from Assam exposed the fraud on Twitter — the thread went viral.

But the college blamed the students.

Principal Dheeraj (in a meeting):
“We only provide education. Placement is your responsibility.”

Mohanlal had no internet, no idea, no voice.
But EMIs of the education loan kept hitting him — like silent blows.

📞 The Phone Call

Mohanlal (on phone):
“Beta, naukri mili?”

Aditya (pause):
“…I’m trying, Baba.”

Mohanlal:
“Bas ek baar tu kamaane lage. Hum phir se zameen kharid lenge.”

Aditya broke down.

He wasn’t the investment.
He was the collateral.

🧠 Character Analysis

  • Aditya: Intelligent but unaware of the game. His guilt eats him more than his failure. He begins believing that he ruined the family — forgetting he was just a child trying to meet adult expectations.
  • Mohanlal: Symbol of rural hope. Conditioned to believe degrees = jobs. A victim of both financial ignorance and emotional blackmail by the system.
  • Savitri: The realist. She begins saving secretly for her second child. She doesn’t dream big — she dreams safe.

💡 What This Story Teaches Us

  1. Education ≠ Employment. Especially in India, where thousands of colleges function without accountability.
  2. Consultants are not always career guides. Some are glorified middlemen preying on rural hopes.
  3. Mortgaging land = mortgaging future. A one-time decision that can erase generational security.
  4. A child is not an ROI chart. They’re human — not “returns on education investment.”

🔍 Financial Advice for Families:

  • Always verify colleges on AICTE & UGC portals.
  • Ask for alumni references, not brochures.
  • If you’re taking loans, check government schemes like Vidya Lakshmi & NSDL Education Loans.
  • Seek second opinion before mortgaging land. Talk to a local teacher, NGO, or someone with exposure.

🌱 Where He Is Now

Aditya works as a mobile repair technician in Pune.

He doesn’t carry shame anymore. Just tools.

He recently opened a YouTube channel: “Bihar Engineer — Without the Degree.”

And in his bio, it reads:

“I still repair things. Only now, I repair dreams too.”

🔜 Next Episode Teaser:

Episode 78: The Festival Loan — When a Tailor Borrows to Afford the Illusion of Celebration

In the next episode, a tailor in Kanpur takes a microloan to buy clothes and sweets for Diwali — not for survival, but for image. But after the lights dim, he is left with unpaid bills, guilt, and a daughter who saw too much.

⚠️ Disclaimer:

Broken by Burden is a fictional blog series inspired by real events. Names, places, and sequences are dramatized for educational and emotional impact. We aim to foster financial literacy and mental health awareness. Please consult legal, financial, or psychological experts for personal decisions.

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