Please provide suggestion to choose a school based on tuition

[latus_rectum]

Hey All,

So I need a decision to make. I have a unique predicament ahead of me. I have applied to around 8 programs. And except GaTech and Baruch, I cannot afford the tuition and stay of other schools without an education loan. I can cover Gatech's and Baruch's tuition from my savings.
According to my calc, Gatech will cost somewhere around $80k and Baruch will cost around $95k (including stay and tuition. I have assumed staying cost in Atlanta as 1/3rd of that of New York and also I have assumed that I will get TAship in both the schools).

For both the schools I might have to loan out around 20-25k. But this is an amount I can loan from friends and families.
Any other school to which I have applied to costs around 150k-170k. For these programs, I will have to take an education loan of somewhere around 90k-110k.
(Please correct me if you think my numbers are not close to the reality)

The reason why I do not wish to take an education loan is because I must return back to India after graduation (due to personal circumstances). At max I can work there for a year. I aim to enter the hft or the early stage quant firms in India after graduation. And I do not want the burden of an education loan which would be even difficult to pay with salaries in India. This situation hadn't resurfaced while applying. If it had I wouldn't have applied to New York based schools.

So, given my situation, should I choose GaTech or Baruch above any other school just for low tuition. Will I be missing out on something crucial if I choose these 2 schools over any other. Or should I take the risk and go to other better ranked/prestige schools, take out the loan of 100k and somehow figure out a way to repay it, it might take 1.5 to 2 times the number of years to pay with domestic salary than it would have taken in US. But it might be worth it in long term.

I know that this situation is completely unique to me and I will only have to make a decision. But please suggest if you can based on your experience and knowledge.

 

[latus_rectum]

Post restored, Accidentally deleted the content.

 

[benzenephi]

Did you get accepted to Baruch? Or any of these other schools.

 

[Andy Nguyen]

Because you have to return to India where salaries are much lower, any of the scenarios would not work out financially. A lot of your assumptions may not be realistic such as getting RAships and cost of living.
Is an expensive MFE degree in the US your only way to get the HFT job in India? Would getting free education from WorldQuant or the likes suffice?

 

[latus_rectum]

Because you have to return to India where salaries are much lower, any of the scenarios would not work out financially. A lot of your assumptions may not be realistic such as getting RAships and cost of living.
Is an expensive MFE degree in the US your only way to get the HFT job in India? Would getting free education from WorldQuant or the likes suffice?

Thanks for your reply, @Andy Nguyen.
My end goal is not to secure a hft job here, it's one of the path I see right now when I return. The reason why I want to get an mfe degree is to go through a rigorous maths and programming heavy financial maths training which would provide me with skills that can help me either secure a job as a quant researcher/dev or enable me to further my graduate studies. The rigour, networking opportunity, interaction with profs and peers, and ability to secure a job anywhere are something which I won't get with worldquant.
And also after spending a considerable amount of time and money on so many applications and getting acceptance from couple of programs and in process in many other programs, I don't think I will just let it go. I am sure of going to US for my mfe. While selecting for programs, I was just wondering if choosing a school just on the basis of tuition even if it is slightly lower ranked/prestige(not well known), how much can it have an impact on my future career opportunities. Will I be missing on something ?

 

[latus_rectum]

Did you get accepted to Baruch? Or any of these other schools.

Baruch and a couple others programs process is underway. Accepted to couple of other schools.

 

[kombuchalover]

I don’t know your situation but I definitely would not attend a program you can’t afford. That would just create unnecessary problems for you.

 

[quanthopefully]

Thanks for your reply, @Andy Nguyen.
My end goal is not to secure a hft job here, it's one of the path I see right now when I return. The reason why I want to get an mfe degree is to go through a rigorous maths and programming heavy financial maths training which would provide me with skills that can help me either secure a job as a quant researcher/dev or enable me to further my graduate studies. The rigour, networking opportunity, interaction with profs and peers, and ability to secure a job anywhere are something which I won't get with worldquant.
And also after spending a considerable amount of time and money on so many applications and getting acceptance from couple of programs and in process in many other programs, I don't think I will just let it go. I am sure of going to US for my mfe. While selecting for programs, I was just wondering if choosing a school just on the basis of tuition even if it is slightly lower ranked/prestige(not well known), how much can it have an impact on my future career opportunities. Will I be missing on something ?

If u take out a loan for most of the tuition of a private US institution then return to work in india, you will be committing financial suicide.