How much debt is everyone going to carry? : Business School Life

darren1010

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17 Jun 2007, 17:25

with interest by the payback time, it can be briefed: a lot

kharma

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17 Jun 2007, 17:35

I think I'll carry the trophy in this category. About $200K - due to a third year in a JD + MBA program.

Everybody can now feel better about their own finances : P

sm176811

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17 Jun 2007, 18:29

darren1010 wrote:

with interest by the payback time, it can be briefed: a lot

What do u mean? Financing the MBA is turning out to be as difficult as the GMAT and the application! Every step has been a hurdle!

IHATEMELGIBSON1

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17 Jun 2007, 19:41

0 Dollars!

MoonShine

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17 Jun 2007, 20:00

$70K Good Times! Though it could be worse.

lepium

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17 Jun 2007, 21:01

Let's just say that my net worth will go back to just about 0. Although I'll take debt as I don't want to sell my apartment.

L.

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GMATT73

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18 Jun 2007, 22:07

kharma wrote:

I think I'll carry the trophy in this category. About $200K - due to a third year in a JD + MBA program.

Everybody can now feel better about their own finances : P

How much of that can you get covered by loans? I recall reading somewhere that the aggregate Stafford Loan limit for grad/professional students is about $118K. Are you taking out additional loans to cover the difference.

Overall, your total debt and first year post grad salary should be about the same.

kharma

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19 Jun 2007, 07:38

GMATT73 wrote:

kharma wrote:

I think I'll carry the trophy in this category. About $200K - due to a third year in a JD + MBA program.

Everybody can now feel better about their own finances : P

How much of that can you get covered by loans? I recall reading somewhere that the aggregate Stafford Loan limit for grad/professional students is about $118K. Are you taking out additional loans to cover the difference.

Overall, your total debt and first year post grad salary should be about the same.

I can get all covered by loans - both the school (NU) and private loans only will cover costs including tuition and cost of living. (I'm non-US so no federal loans here)

The debt is definitely something on my mind, but won't be a deterrent for me. I view this as switching one debt for another (mortgage vs. education). Perhaps more naively than others, my reason for doing this program is not solely the expected financial return. It's part of it, but a larger personal reason drives me: getting the full out education I've dreamed of.
Cheesy? Probably :wink:

B

GMATT73

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19 Jun 2007, 08:00

kharma wrote:

GMATT73 wrote:

kharma wrote:

I think I'll carry the trophy in this category. About $200K - due to a third year in a JD + MBA program.

Everybody can now feel better about their own finances : P

How much of that can you get covered by loans? I recall reading somewhere that the aggregate Stafford Loan limit for grad/professional students is about $118K. Are you taking out additional loans to cover the difference.

Overall, your total debt and first year post grad salary should be about the same.

I can get all covered by loans - both the school (NU) and private loans only will cover costs including tuition and cost of living. (I'm non-US so no federal loans here)

The debt is definitely something on my mind, but won't be a deterrent for me. I view this as switching one debt for another (mortgage vs. education). Perhaps more naively than others, my reason for doing this program is not solely the expected financial return. It's part of it, but a larger personal reason drives me: getting the full out education I've dreamed of.
Cheesy? Probably :wink:

You're referring to the joint Kellogg MBA/ NU JD program, right?

kharma

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19 Jun 2007, 08:07

GMATT73 wrote:

kharma wrote:

GMATT73 wrote:

kharma wrote:

I think I'll carry the trophy in this category. About $200K - due to a third year in a JD + MBA program.

Everybody can now feel better about their own finances : P

How much of that can you get covered by loans? I recall reading somewhere that the aggregate Stafford Loan limit for grad/professional students is about $118K. Are you taking out additional loans to cover the difference.

Overall, your total debt and first year post grad salary should be about the same.

I can get all covered by loans - both the school (NU) and private loans only will cover costs including tuition and cost of living. (I'm non-US so no federal loans here)

The debt is definitely something on my mind, but won't be a deterrent for me. I view this as switching one debt for another (mortgage vs. education). Perhaps more naively than others, my reason for doing this program is not solely the expected financial return. It's part of it, but a larger personal reason drives me: getting the full out education I've dreamed of.
Cheesy? Probably :wink:

You're referring to the joint Kellogg MBA/ NU JD program, right?

Yep!

B

GMATT73

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19 Jun 2007, 08:13

Congrats! That's one top gun program. Consider yourself fortunate to be able to wrap up both degrees in three years. The standard par for the course is 4~5.

kharma

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19 Jun 2007, 08:20

GMATT73 wrote:

Congrats! That's one top gun program. Consider yourself fortunate to be able to wrap up both degrees in three years. The standard par for the course is 4~5.

Thanks - The 3 year acceleration is my only consolation regarding any financial relief right now!

B

GMATT73

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19 Jun 2007, 08:24

kharma wrote:

GMATT73 wrote:

Congrats! That's one top gun program. Consider yourself fortunate to be able to wrap up both degrees in three years. The standard par for the course is 4~5.

Thanks - The 3 year acceleration is my only consolation regarding any financial relief right now!

Sorry be so forward but would you mind posting your stats, backgraound etc?

kharma

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19 Jun 2007, 08:35

Not at all - someone actually asked me to post them on the Kellogg R1/R2 thread somewhere here, but I'll repost:

28 yrs / Female / International
3.5 GPA undergrad / 690 GMAT
Current job: Mergers & Acquisitions in a Fortune 500
Career goals: Still M&A - but using both degrees to better specialize

I was originally waitlisted (R2 applicant) - But I guess my persistence (networking/updates) finally tired admissions...

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19 Jun 2007, 11:34

kharma wrote:

Not at all - someone actually asked me to post them on the Kellogg R1/R2 thread somewhere here, but I'll repost:

28 yrs / Female / International
3.5 GPA undergrad / 690 GMAT
Current job: Mergers & Acquisitions in a Fortune 500
Career goals: Still M&A - but using both degrees to better specialize

I was originally waitlisted (R2 applicant) - But I guess my persistence (networking/updates) finally tired admissions...

I know another R1 who got into the JD/MBA program there. Name is Ryan. Say hi to him when you start. He's a nice guy.

Oh and debt: $0

(But that doesnt mean im not paying for it)

brown

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19 Jun 2007, 18:21

Another $0

antapple

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19 Jun 2007, 18:28

probably 60k debt.

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19 Jun 2007, 18:28