Is 100k in undergrad debt worth it if I get into IB?
Is 100k in debt very very bad? Are there any companies that offer educational loan assistance after you’ve graduated and you’re working with them? This is the total debt without receiving any outside assistance and or scholarships. I’ve applied to 60+ scholarships and plan to apply for more when I enroll at Ohio State. Obviously I plan to take advantage of the Fisher Futures program and I do have some connections within the IB world (family + friends). Is it worth the debt if I get into an IB say William Blair or something?
My parents wouldn't pay for college over some bs. I graduated with $140k and am down to about $100k 2 years after school. Locked in a low rate (3.5%), so not rushing to pay it off now that rates are high. I don't worry about making payments but will note that 1), I went to a top 3 Ivy so I wasn't worried about getting a job and 2), even though my base is $150k, I still check my bank account a fair bit and definitely look forward to bonus time. Wish I could comfortably afford to pay $3k in rent, but with student loan payments over $1k a month, it's really not that feasible coupled with 401k and other miscellaneous stuff. Add in any other hobbies that cost a penny (skiing, traveling, dating etc...) and you'll really be waiting on that bonus. I'd definitely do it again, but in your case, I'd be a bit more adverse to paying $100k for Ohio state. 1), it's not guaranteed you get a job in IB and 2), no one really likes IB. It'd suck to be forced to work in the industry for 4-5 years if you hate it but can't leave. You could also consider community college for a year or two (hot take I know), but I know a few people who did this then transferred to traditional 4-year colleges. They saved money and a few got into better schools as transfers than they otherwise would have out of high school.
I appreciate your response, this was very helpful. I’ve heard that Ohio State’s Fisher Futures program has very high placement, but obviously I’m going to have to grind outside of the classroom, which I plan on doing 100%.
Glad you found it helpful! I will say though, always bet on yourself. I've been so fortunate that things have turned out the way they have, but it couldn't have happened if I only did what I was comfortable doing/what people told me to do. I'm rooting for you!
Ohio state placement is charmin soft outside Ohio (BGL and KeyBanc)
Wouldn’t pay $100k for that
Are you going there from out of state? If so, why? Seems like way too much debt for such a school.
Yes, out of state
$100k Ohio State is not even worth it for IB. I’m sure there are other similar schools for the same price range that place better but more important Ohio State is as non-target as it gets.
Are they though? I’ve seen through the fisher futures program that they place very well. Obviously not target. Maybe semi-target at best?
Depends on long term career goals
I’m trying to do about 10 years in the finance industry starting off in IB because I can venture off into different fields within finance. Once I save up enough, I move into commercial real estate:
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