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04 Jan 2017, 13:12
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Hey Everyone,
Now that I have been admitted to school I'm starting to freak out about the debt I'll have to incur. Total cost of attendance is roughly ~200k for my program of choice. I wasn't awarded a scholarship and I'll only have about $16k in savings by the time I matriculate. I'm interested in MC with MBB and assuming I get an internship with one of those three that's probably another $15k I'll have for year two.
So at the end of the day, I'd be graduating with $170k in debt. That number scares the hell out of me. Do people actually borrow that much and pay it back?
My fiance will be moving with me, so we will have her income (she's a nurse), but it isn't a lot. So I'm not sure how that comes into account.
Background on me: 730 GMAT. Interested in MBB consulting in Boston. Pre-MBA salary =$70k. Choosing between Tuck (no $, 1st choice) and Darden (half tuition $)
Now that I have been admitted to school I'm starting to freak out about the debt I'll have to incur. Total cost of attendance is roughly ~200k for my program of choice. I wasn't awarded a scholarship and I'll only have about $16k in savings by the time I matriculate. I'm interested in MC with MBB and assuming I get an internship with one of those three that's probably another $15k I'll have for year two.
So at the end of the day, I'd be graduating with $170k in debt. That number scares the hell out of me. Do people actually borrow that much and pay it back?
My fiance will be moving with me, so we will have her income (she's a nurse), but it isn't a lot. So I'm not sure how that comes into account.
Background on me: 730 GMAT. Interested in MBB consulting in Boston. Pre-MBA salary =$70k. Choosing between Tuck (no $, 1st choice) and Darden (half tuition $)
beefphoforthewin
Joined: 25 Sep 2014
Last visit: 06 Dec 2017
Posts: 53
Own Kudos:
Given Kudos: 4
Location: United States
Schools: Booth '19 (A) Kellogg '19 (I) Tuck '19 (I)
GMAT 1: 750 Q50 V40
GPA: 3.4
08 Jan 2017, 08:06
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Take some debt and go to Tuck
Given I heard some people graduated with $ 50k signing bonus, you should be able to pay back your loan pretty quickly
Probably even faster once you get your MBB gig
Given I heard some people graduated with $ 50k signing bonus, you should be able to pay back your loan pretty quickly
Probably even faster once you get your MBB gig
12 Jan 2017, 10:39
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Tuck. Hands down. See if they'll match the Darden offer but you'll make back the $$ after s few years of consulting anyways (at least that's what we tell ourselves )
Sent from my iPhone using GMAT Club Forum mobile app
Sent from my iPhone using GMAT Club Forum mobile app
