MBA funding question

no

Hey, I happened to get the summary email and thought I'd check out this thread. One piece of advice I wish I had received was this: Don't take any extra Federal money at its high interest rate. I took some of those loans without shopping around before 1st year. Then I looked around. I found that I could get a Sallie Mae loan for something like 3% or so. Much, much cheaper, but you have to make small interest payments while you are a student (they are not crippling or anything, but to get the better rate you have to start paying while you're a student).

Also, while I was lucky with scholarships and things that allowed me to graduate with only $75K in debt, MOST folks who paid full price and lived a normal life/travel ended up with around $150K in loans, not $100K as I see referenced by a few in this post.

BUT, the good news is you'll soon be making good money and can pay those off. I started working late summer and between signing bonus and salary, I've managed to pay off about half of my loans already (starting with the high interest Federal loans first, of course!). It's an investment! Good luck to you all!

That's the $60,000 question, or $40-50,000 question for most of us. Most loans are paid directly to the school so it doesn't really make sense to put 100% of your savings towards tuition just to have all your loans go to the school then be refunded to you as a credit. My wife will be working so we will have some income but also higher expenses, no roommates to split the bills etc. So I think I'll go a little heavier on the loans to be sure we have enough to get by the first year. Then look to spend more of my savings account the second year to keep the total loans down as much as possible.

FOR LBS ADMITS:
how are you financing your mba. it seems LBS does not provide any loan https://www.london.edu/programmes/gettingaloan.html

If all else fails, you can be like this guy: https://management.fortune.cnn.com/2012/05/16/student-debt-business-school/