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friskymarkets
Current Student
Joined: 29 Dec 2019
Last visit: 26 Aug 2025
Posts: 67
Given Kudos: 30
Location: India
Schools: Tuck '24 (A) Booth '24 (D) Ross '24 (WL) Fuqua '24 (S) Harvard '24 Yale '25 (M$$) Kellogg '25 (A) Tepper '25 (A$$)
GMAT 1: 760 Q51 V41
GPA: 3.5
Schools: Tuck '24 (A) Booth '24 (D) Ross '24 (WL) Fuqua '24 (S) Harvard '24 Yale '25 (M$$) Kellogg '25 (A) Tepper '25 (A$$)
GMAT 1: 760 Q51 V41
Posts: 67
06 Nov 2021, 03:26
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Roughly $200k student debt and median salary is $120k (ofc this is pretax). For an international student who might not get a work visa after 3 years how quickly is it practically possible to payoff the debt.
I understand that a lot depends on the location, job, lifestyle as well but want to get a perspective from folks who are in that boat.
I understand that a lot depends on the location, job, lifestyle as well but want to get a perspective from folks who are in that boat.
17 Jan 2022, 08:34
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I'm interested in the answer as well. Suprised no one has posted an answer yet (apologies if there is already another post that covers the topic - will keep looking.
19 Jan 2022, 21:36
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I think we just missed the topic.
I would say people are paying their loans as quickly as they wish based on my conversations with recent grads.
Obviously depends on the job and industry you are going into and what level you get hired but if you are heading to Tech or Consulting (the 2 dominant fields these days that compete for talent), starting salary is $140K and of course there are taxes but there is a $80-100K sign on bonus PLUS another bonus at the end of the first year ($50K) and then another 50-100K at the end of the year 2 and 3 depending on how the bonuses are structured, so you can pay off your loan in 3 years using just the bonus money. It is fairly common these days to have a $250K total comp 2 years after graduation when you take into consideration salary, bonus, and long-term incentive bonuses. It takes time for some of them to kick in but most mature after 3 years.
This is NOT normal this year. The salaries and esp. stock comp at Tech firms are highest they have ever been as they compete for talent and new hires (which is awesome for all of us) so this is the first year, it has been possible to basically not spend any money out of your salary on loans.
Now, most people don't pay down their loans even though they have money. They key keep the stock RSU's, they invest into market or crypto, and build up emergency funds. If they can, they get a fixed loan rate and pay it slowly down. Prodigy has a variable rate so it moves around and is fairly high by US standards (7-8% APR) so makes sense to either refinance or pay it down but with the past 12 months giving 20% growth in S&P500, it is hardly motivating anyone to accelerate the payments.
P.S. Everyone in the US lives with mountains of debt. It is the lifestyle. You have a car loan, a home loan, and a student loan. There are times when you want to get rid of them so they are not dragging you down but owing money is the way of life.
I would say people are paying their loans as quickly as they wish based on my conversations with recent grads.
Obviously depends on the job and industry you are going into and what level you get hired but if you are heading to Tech or Consulting (the 2 dominant fields these days that compete for talent), starting salary is $140K and of course there are taxes but there is a $80-100K sign on bonus PLUS another bonus at the end of the first year ($50K) and then another 50-100K at the end of the year 2 and 3 depending on how the bonuses are structured, so you can pay off your loan in 3 years using just the bonus money. It is fairly common these days to have a $250K total comp 2 years after graduation when you take into consideration salary, bonus, and long-term incentive bonuses. It takes time for some of them to kick in but most mature after 3 years.
This is NOT normal this year. The salaries and esp. stock comp at Tech firms are highest they have ever been as they compete for talent and new hires (which is awesome for all of us) so this is the first year, it has been possible to basically not spend any money out of your salary on loans.
Now, most people don't pay down their loans even though they have money. They key keep the stock RSU's, they invest into market or crypto, and build up emergency funds. If they can, they get a fixed loan rate and pay it slowly down. Prodigy has a variable rate so it moves around and is fairly high by US standards (7-8% APR) so makes sense to either refinance or pay it down but with the past 12 months giving 20% growth in S&P500, it is hardly motivating anyone to accelerate the payments.
P.S. Everyone in the US lives with mountains of debt. It is the lifestyle. You have a car loan, a home loan, and a student loan. There are times when you want to get rid of them so they are not dragging you down but owing money is the way of life.
