Loan

[perrewperrew]

I know the cost of attending Baruch is relatively low.

I was wondering how much loan people are taking out in general.

With my mom s help, i still have to take out 50k. Interest rate is about 8%. Is it worth it?

It takes quite a while to repay that loan even if you earn a higher starting salary(around 65k )

am i better off finding a job and go back to school later?

btw, I am planning to go to umich.

 

[Andy Nguyen]

Is it worth it?
I don't know. What is the cost of education at UMich? I may have read somewhere that they increase their tuition this year, but may have mistaken.
Justify a present payment by counting on future cash flow is pretty much a faithful proposition all the time, much more so in this market condition.
Are you risk-averse? What other options you have?
Plenty of people have no problem paying 100K for CMU so I don't see the loan amount stopping everyone. What kind of job/salary do you realistically expect to fetch after your UMich study?
If you get a job and your employer agrees to pick up the tab for your MFE later, that would be an ideal solution but it takes years and you may no longer want to do an MFE.