Columbia MAFN Columbia MAFN program

[japi]

I just got accepted to Columbia's MAFN program. I really cannot afford to fund my schooling without some kind off help. I was thinking about taking out loans to fund my schooling. Do you think that is a good idea? I am an international student which means I have to take private loans, and I am worried whether I will be able to find a job to pay off my debt. I am really confused!!! My professors suggested it is not a good idea to go to grad school without a fellowship. What do you think?

 

[Joy Pathak]

Majority of students take loans for these kind of professional degrees. The risk of not having a job upon graduation is something we all will face.

I am taking a loan, a big one, and so are majority of the students. I don't think many can afford 50K+ a year by themselves.

 

[Andy Nguyen]

You should have a plan B in case you go home with no job and a loan. Contact Columbia MAFN to learn more about their career service.

In any case, you will have to prove sufficient financial funding in order to get a student visa.

 

[japi]

Thanks!!! I will call them on Monday. It was a risk I was willing to take until my professors told me that it was a bad idea. One of them said that with the current situation in the US, I will have to find a hard time landing a job right out of school.
I think as an international student, one has a month to land a job before OPT expires.

What is the minimum amount I will be making in a year? So, I can prepare for the worst.

Thanks again!!!

 

[Andy Nguyen]

On the topic of OPT, do some reading here OPT (Optional Practical Training) - Forum | Quant Network
It's in your best interest to learn more about the in/out of immigration rules pertaining to international students.

Your minimum salary is $0 in case you don't get a job. It's probably will be negative net since you spend money for living expense.

Think of education of something in the bigger picture, not to get you money next year.

 

[japi]

I am really not worried about making money that much. I am just worried about leaving my co-signer with a lot of debt. I am willing to take the risk, but I am worried about dragging someone along the way.

 

[Andy Nguyen]

That detail should be worked out before you even apply to any of these programs.

 

[japi]

Thanks!!! I will just talk to my career advisor