H-1B visa: Manickam Tagore urges PM Modi to announce 5-year deferment on education loan repayment for Indian students returning from US

New Delhi: Congress Lok Sabha Whip Manickam Tagore has urged Prime Minister Narendra Modi to announce a five year deferment on repayment of education loans taken by Indian students who have to return from the United States without securing a H-B visa despite having job offers.

Tagore shot off a letter to Modi on Monday highlighting the concerns of such students and said support would bring much needed relief to affected students and their families, who have made “significant sacrifices” in the pursuit of higher education and global opportunities.

“Addressing their concerns at this crucial time will reflect the government's commitment to safeguarding the future of our youth,” Tagore said. The letter came against the backdrop of the US increasing the fees for H-IB visas to USD one lakh dollar.

Arguing for a five year deferment of education loans taken by students who returned to India despite having job offers, he urged the Prime Minister to issue directions to public and private sector banks to adopt a compassionate approach under RBI guidance.

He also said the government should explore support mechanisms such as re-skilling programmes, domestic job facilitation, or start-up funding access to help reintegrate these students into the Indian workforce.

Emphasising that Indian students in the US are facing “serious financial distress”, he said these students have already taken substantial education loans for paying fees in the US and now are burdened with "additional and unexpected financial pressure".

He said the situation affects not only those graduating this year but also those who are currently pursuing multi-year programmes in the US and intend to stay back for employment under the H-IB visa route.

“Many of these students, coming from middle-class and lower-income families, had made their education choices based on the expectation of gaining employment post-study and repaying their loans over time. However, the randomised nature of the H-IB lottery system, combined with rising visa costs has led to a situation where students are returning to India with no job and heavy debt, despite being highly qualified,” he said.