What if I convert IIMs but don't have enough money to pay the fees?

Trust me if you get into any IIM, banks will be after you to get loans from them. Banks consider an IIM student a good investment and therefore offer educational loans at a very low interest rate.

My uncle’s son had cleared CAT and got into IIM Calcutta. He got a loan from a bank at an extremely low interest rate. He had to deposit a demand draft of INR 3,23,050 at the time of the MBA registration process (second week of June). The rate of interest is 8.4%. After MBA, you will be in the 30% tax slab. The interest paid on an education loan is tax-deductible. So, your effective rate of interest is 8.4(1–0.3)=5.88%. This is the cheapest loan one can get in India. So it’s recommended that you take a loan even if you have money.

Banks like SBI, CBI, BOI, and PNB will give you loans as high as 30 lakhs without any collateral.

Apart from loans, IIM Calcutta also offers a lot of financial assistance to financially weak students. Need-based-scholarships are offered. IIM Calcutta provides Financial Assistance to students whose family income is less than 8 Lakhs.

Rather than worrying about money focus more on your goals and academics.