Just trying to grasp what having a student debt of $100K actually means for your lifestyle.
Assume that you do an MBA at a top 15 school, graduate with $100K in debt and get a finance job in NYC with a salary of $100K per year ~ $8,333 per month. After federal/state/city/SS/Medicare taxes we're at aof app. $5,400 per month. Student loan payments are at app. $1,200 per month so taking those into account, you're left with $4,200 per month.
As far as I understand, studios in Hell's Kitchen/Lower East Side/Financial District run at $2,200-$3,500 per month. So unless you're willing to spend more than 50 percent of your disposable income on rent, you will not be afford to live in your own place (i.e. live without roommates), right?
Additionally, you'll have the thought of not having an emergency fund as a sword hanging over your head all the time, right?
And generally you'll have to live super frugally after your MBA to make ends meet?
Not saying that an MBA doesn't give you a super ROI over a 10 year period (I'll be applying to 4-6 U.S. MBA programs this fall!), but just trying to get an idea of what the short term costs will be for your lifestyle immediately after graduation.