Impact of Debt
Senior in High School. In a sticky situation where my parents make enough money for 0$ of financial aid, but parents can not pay full tuition. Right now my main options are...
Michigan Ross - 150k in debt
In state Ohio school (Ohio state, Miami oxford,) - 0 debt
UGA/UofSC - 30k debt
I am struggling to understand to what level the Ross debt will set me back in life, if at all. To those who have more insight, what are your thoughts/suggestions? I'm pretty sure I want to do investment banking, private equity, or equity research, however I would love to start a business or work for a start-up one day. What will limit me more, the Ross debt or the "non-target" status of the other schools.
Will the Ross debt set me back from a house, wedding, car, etc. Or will I be out earning to the point where the debt is minimal?
Should I plan to pay off my debt as soon as possible? Or should I get the monthly payment as low as possible and just ride it out, hoping for some form of forgiveness or something?
Let me know what you guys think.
Thanks
You’re going to get a lot of differing opinions on this (and I know you’ve posted about this before) but I would suggest OSU, with Miami being second. Full disclosure, I went to OSU. I say this for two reasons: first, there are a number of people from OSU every year who make it into the roles you mentioned. It’s not a walk in the park and will take real effort, but it’s far from impossible. It’s not like Ross has a 100% placement rate and OSU has 0%. There’s a gap, but it’s not drastic. Second, there will be people that tell you to take on the debt because you could easily pay it off with in a couple years with an IB salary. I would be careful there; while you seem set on working in finance, the truth is lots of people change their major and goals in college when they get to try out and experiment with different subjects. You certainly don’t want to take on $150k in debt thinking you’ll be making the big bucks when you have a change of heart and decide to become a geologist.
I read somewhere that UGA actually places really well in high finance, and 30K total doesn't really sound too bad.
Their placements are about in line with the OSU or Miami programs. Can't find any info on UofSC.
Honestly, it's a crapshoot from all of these schools. It’s not worth 30k of debt.
The delta in placements is enormous between Ross and the other schools. That said, I still don’t think it’s worth 150k. Go to OSU or Miami.
Miami places well
Hard to believe a school with a 92% acceptance places well
ohio state this is a no brainer them along with penn state and place better year after year
Stay debt free. It’s the greatest asset you can have. You can make big money out of college at an increasingly high number of investment banks.
Do not take on that debt for Ross, you will regret it
Deleniti sint fugit et repellat. Sapiente odit occaecati sint itaque. Corporis dignissimos molestias et explicabo odio. Explicabo mollitia voluptate quia beatae provident est. Ea dolore ducimus explicabo beatae quae. Et repellat asperiores cupiditate sint harum ut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...