MBA in Healthcare Management worth 95K in debt?
I'm a 24 year old recently accepted into Northeastern University's Part Time MBA program. I chose this school for the flexibility and content of the courses- however I'm second guessing my choice to attend in the fall.
The entire program is $95K. All things considered I should finish withing three years. While I have no family or children to concern myself with financial responsibility-wise, I'm wondering if taking on this debt is a foolish choice. I currently only have about $5,000 in loans from my undergraduate studies thanks to scholarships.
I currently make $46K at an Accountable Care organization, but I'm in the process of transitioning to another company for $60K (So overall a lot of changes are happening.) I have bills like anyone else: rent, car payments, phone, auto insurance. I find my current level of income to be the most basic level of what I need to get buy- there's not much wiggle room for travel or money to invest.
I guess my main concern is will an MBA in Health care management take me to a level where spending this amount of money is worth it? Or am I making a premature jump into a financially irresponsible decision?
My thought is that it's probably not worth it. PT programs don't tend to give a lot of options and support for recruiting, so you'll probably be in a similar role as you would be without business school. Additionally, I don't think northeastern has a lot of cache to open doors re branding as well. Take that with a grain of salt as I have zero clue on how solid Northeastern's program is other than I'm pretty sure it's not ranked highly on most of the normal stuff ppl follow.
There are much more productive uses of $95k. The debt service of ~$100k in debt will be pretty brutal, even assuming you get normal raises that pull you up to 80k ish in 3 years.
Just my $.02.
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