Advice needed badly 🙏🏻

21M here, I apologise if you may find the given information in a non appealing format or shabby since this is my first time posting on this sub.

BACKSTORY: my father was rich and I vaguely remember being dropped off in cop cars to school during my 7 and 8th grade. He was a politician, not a corrupt one entirely and had a couple of flats and a petrol transport business. As the years went by he left politics for good, his business started failing and he sold off flats for my grandmother's surgery which costed him a 2bhk in versova. He opened a jewellery shop in which I used to go to work daily after school and this was when I was in my 10th and 11th grade. I have no idea how but slowly my father accumulated a lot of losses and then corona hit. All the fund and savings were drained in rents and rations as I hit my 2nd year of ba my parents were in Gujarat trying to make small money being a small scale contractor and stuff ( roughly earned 60k over the course of 3 months give or take).

I don't want to drag this post on for top long but I need some advice.

Current situation:

Flat rent 1bhk Navi mumbai- 8.5k Utilities - 1.5 rough estimate Food and groceries - 12k (6 members -3 sisters me and parents) Older sister is a teacher with 10k salary My 3 sisters started tuitions a month back and have 22 kids with 500 per month from each kid -11k monthly

A rich relative who has a chain of stores set up a shop for us and said that he would find someone to help in the shop as me and my father have absolutely no idea of what to do in a clothing business (it's a ladies clothing shop) 5lakh loan from 1 relative for the shop Another 3 lakhs from a different relative Another 1 lakh from a different relative 35k rent 5-6k approx electricity bill He also has pending loans of over 7 lakhs of the past

About me 21M an English enthusiast wanting to become a professor. Currently in my MA-English first year fees is minimal due to the scholarship I received hence only 9k I had to pay to the college. My plan is Crack NET/SET for English in the coming year Become an assistant professor first while doing PhD. I have already seen the income and wages of professors in my field it's 35k pm with net and set and with 4 years of experience it reaches 70k if we add a PhD to it then 1.5L per month and with 10-15 years of experience 2.75 to maximum of 3L per month and I know some people personally who make this. Currently the shop is barely making ends meet. I mean the money for the rent of this shop is barely accumulated 3 days prior to the rent date. There is also the payment for all the stock which is 70% paid and otherwise pending and the current bills add up to 3.75L. we also have an emi for an Activa which is 3200 per month.

My father wants to take any loans right now that he can. Paytm offers loan after 3months of usage of the soundbox, it's been 2 months already and he wants this loan badly( I said wants and not needs) I have a credit card of HDFC and getting a 1lakh loan of 2% interest and father is extremely persistent that I take that loan The business is under my name , the credit card too, the business is GST registered etc etc.

Me and my family have no excess spends, mother's phone broken 2 months ago and we still cannot buy her any phone under 10k, we haven't celebrated any festival like Diwali Holi or navratri since the last 4 years because nor can we afford new clothes neither visiting relatives with sweets trust me we are literally making ends meet.

The location that this business is in is a very low area in which 95% people will bargain so heavily that you will only get 100 rupees-200rupees on any article on average. The shop was opened on raksha bandhan and I have worked my ass off here alone with my parents helping as much as they can, with zero experience of clothes I slowly learned everything and I can trade like a normal shopkeeper now but I think there is no scope in this. We can hardly see money coming out of this business but still why does my father wants to put more money in this I think I should just wait for a year work my ass off in my MA and get a job.

TL:DR: Family was well to do but downfall occurred, now in debts and father wants to take loans to keep this shop running which is not yet profitable but I do not wish for this instead want to become an assistant professor right after my MA and start earning.

I need some directions or advise Thank you.