kelzo123 May be able to comment about Tuck living expenses.
But I would tell you that schools generally fudge cost of living quite a bit. I have seen huge difference in cost of living numbers for UCLA versus Marshall. They are like 4 miles from each other and there shouldn’t be a seven or $8000 difference. What this means however is that one school may be giving you a very bare-bones budget and another one is giving you a more livable budget. You actually want a more realistic budget because it would allow you to borrow a greater amount of money and you will always run out of money during business school.
This is one thing you can count on, you will run out of money. There will be recruiting trips which are not part of the budget, they will be social activities which is not part of the budget, there will be leisure trips, which are not part of the budgets there will be friends weddings, which is not part of the budget… you get the idea. Ultimately all of the school budgets are flawed and severely under budget. There’s no freaking way you can live on $18,000 a year. Granted it’s only for nine months but still there’s no way you can make it on $18,000 and also be able to buy books and pay for health insurance and your ticket, have a livable place, eat and so on.
I think we have a discussion somewhere about budgets but a lot of the business goes in the US will make it pretty hard if you do not have a car. You either have to live very close today campus or on campus but traditionally living on campus are very close to campus costs more… so it’s a catch 22.
I would expect to spend at least 30,000 to be realistic. Granted, you will make some money and have a summer internship but there are some funky costs. Let’s say you do get an internship in Bay Area or Seattle, are you going to stop paying rent on your apartment and Ithaca or I forget where Dartmouth is 🤦♂️ Anyway, well you may not live there, your positions need to be somewhere and you must likely will have to pay double rent or get a free place by your employer in Bay Area or Seattle but you’ll still have to pay rent back at school.
You can make decent money out of internship and potentially make as much as 25,000 for two months of work but a good chunk of it will be taken out for taxes which you will get a refund the following year.
I guess the bottom line is that you’re likely to have very similar cost of living. The schools may provide different numbers but those numbers are not very attached to reality. Those numbers are important however because they will determine how much money you can borrow and they will determine how much money you need to come up with to get a visa if you need a visa…
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20 Dec 2021, 15:39
