Bankrolled

Question

Expected family contribution here = $0. It's been like that since I was 17, and personally I wouldn't want it any other way.

lepium · Answer

0$ this time around.
They paid for college, though.

L.

ps_dahiya · Answer

My parents supported my studies 100% until I started earning. But for MBA my parents are taking loan that I have to pay.

MoonShine · Answer

It's all on my shoulders for grad school. My parents paid for my undergrad, they've already done too much for me.

kidderek · Answer

What we obtain too easily, we esteem too lightly.

GMATT73 · Answer

Nevertheless, if I get blessed with a daughter (some day) and if she chooses to pursue an MBA, or any other degree for that matter, I would support her all the way. Women shouldn't have to struggle this hard in life.

dukes · Answer

Women shouldn't have to work as hard as men?

flapjack · Answer

I agree 100%. The people from my law school graduating class whose parents paid a substantial part of their education were far more likely to leave the profession (often within a year or two) when things got tough than were the ones who paid their own way. There are obviously exceptions to the rule, but the trend was pretty clear. 

I think that the father of one of my law school classmates is worth a couple hundred million dollars and he paid his daughter's tuition and expenses through school. She quit during her first year at a law firm and now works at a Starbucks. 

The father of another guy in my class is worht over a hundred million and paid his son's way through school. The son was really lazy, skipped almost all of the classes, and has never practiced law. He now works from about 10:30-3 for his dad's real estate company, but he doesn't have much responsibility. He has has exactly the same job as he had before going to law school.

OasisNYK · Answer

I agree if you work for it then it means more - but I would also have to say that the laziness some of you have written about can be attributed to more then coming from wealth. Some of it is human nature in general. Not everyone is a superstar and a hard worker - this is why hard workers eventually get rewarded while others fall by the side of the road.

On one of my first job interviews I was told, "just be persistent, 99% of the population will just give up so if you keep going at it, eventually you will get what you want." I find that to be pretty true.

riverripper · Answer

I thought about posting 50% since I am married...technically my wife is family but I dont think thats the intention of the question.

Actually she will be paying the bills while I go to school...so its probably more like 60-70%.

aaudetat · Answer

This is something I think about a lot. I don't come from money at all, and nearly everything I have done was accomplished on my own steam. On the one hand, I am proud of my accomplishments and take pride in having stood on my own all this time. On the other, life would sometimes have been much easier with a little bit of help. I try to keep a measured attitude about it. I feel good about my own abilities, never complain about the student loans I pay, and try to always look at what people have accomplished, and ignore the bankroll behind it. Even if M&D Bank (mom and dad) funds your education, you are the one who has to take the tests and get the job. Well, at least take the tests.

riverripper · Answer

I was going to say nepotism is a huge thing in business. People can call it networking or whatever they want but if you dad or uncle or brother is in management at a big firm and makes some calls to get you a helping hand with getting in...thats gonna help.

I know if there was any relative of mine remotely involved in the field I want to go into I would be having them over sunday dinner every week.

GMATT73 · Answer

IMO, no they shouldn't. Not that they can't cope, just that it's a little too much to expect from an 18 year old girl. To venture out on one's own as a female, especially at such a a young age, can quite possibly have drastic repercussions. 

While simulataneously balancing a full time job with full time undergrad studies, I firsthand witnessed several young women (rather 18~20 year old girls) get caught up in unhealthy relationships with a dead beat bfs, only to suddenly become pregnant in their sophmore year, and shortly thereafter dropping out of school to raise two kids from two different fathers. Seriously, anybody out there who has been  100% independent  since high school knows exactly what I am talking about. 

One sees the academic world from an entirely different perspective when he/she has to worry about paying for rent and food while scaping together enough cash to cover tuition bills and books. After completing four years under such conditions, one painstaking day at a time, I must admit that I would never place the same burden on any future daughter. It's simply too much for many, if not most, people (especially women) to handle.

flapjack · Answer

I disagree 100%. Women are just as capable as men in dealing with responsibility and debt. If I end up having a girl and a boy, I would treat them both the same. Treating the girl better than the boy is just going to cause a tremendous amount of resentment.

dabots · Answer

i think supporting your child through undergrad is drastically different than supporting him or her through an mba. if you can't handle managing the debt from an mba, you probably shouldn't be pursuing one. by the time you enter b school you should have lived on your own and supported yourself for a few years and learned to save and invest.

women want equal rights nowadays, i say give it to them.

mst · Answer

I agree. If you give preferential treatment to your young girl, in the long run it is going to work out against her and she might even end up blaming you to some extent. You have to teach her that she is no different from the guys when it comes to being self reliant and taking care of herself. 

I am a woman and have been totally independent since the age of 18. I got a full undergrad scholarship and moved to another country. If at that time my parents had worried about sending an 18 year old girl to live all alone in a foreign country, then I would have missed out on so many things and would have deeply regretted the decision.

Bankrolled

How much of your total b-school debt is your family (parents) going to shoulder?

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