How to finance an MBA
Hi all,
I have some questions about financing an MBA. I am planning to have enough to cover the tuition piece, and my parents will pay for my living expenses while I attend school (very fortunate here).
Ultimately, I will have in the ballpark of $160k saved. Essentially right on top of the total two-year MBA tuition. I have a few questions below and would greatly appreciate any insight.
- Does it make sense to take on some debt? Maybe I cover the first year's tuition in cash and take on debt for the second year?
- Can I take on debt for all of the tuition and then just pay off as much as I can once I graduate? IE - take on $160k in debt, and potentially pay off the debt immediately upon graduation (assuming I still have that much in cash) and effectively pay 0% interest as the loans typically don't kick in for a few months post-grad? Or maybe I spend some extra $ and have $140k to pay down loans with, etc.
- Should I take debt for full tuition costs and invest my $160k instead? (index funds, etc.)
- How did you finance your MBA and what considerations went into it?
Appreciate any insight here!
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