Shall I take USD 160k loan to attend Wharton?Subscribe
Hi, I am an international student who just get admitted into Wharton Full time MBA (2019 intake / Class of 2021) without any fellowship. To pay for the MBA, I need to take a loan of around 160k USD which is pretty hefty to me, especially considering the high interests rate in the states ("as low as 9%"). Before the offer arrives, i am fully convinced that an Wharton MBA will be worth it, but I am a bit shaky now after i realized all my other MBA friends are either self-financed or have received 100k+ fellowships.
I am currently 30 and earning around 80k USD after-tax in the Risk-Management function of a bb, and hoped to eventually move to a Chinese-tech focused PE / VC such as Sequoia / IDG / Hillhouse based in Mainland China / Hongkong / Singapore, but I am open to other career paths in other locations as well if opportunities present itself.
Any suggestions that if i should proceed with the loan? If I am able to secure a 160k job offer in the US after graduation, i will have 120k+ after tax and save around 50k+ per year. At that speed, i need around 3 or more years to repay the loan, and i will be 36+ when I fully clear the debt. The repayment timeline will be similar if i work in Hongkong / Singapore as the pay will be less but so will be the tax. By the time I have saved enough for the house down payment / marriage, i will be 40+, which sounds pretty scary.
Any suggestions ? if i shall take the offer and go for the MBA? or any career advise?
I have thought about making the IBD TMT --> PE path in the US, but I also understand that I will be a bit old for IBD by the time of graduation (i will be 33 by then) , while US PE firms prefer to recruit young IBD analyst at around 25 yo. The PE / VC circle is also fairly closed to Asians, not to mention international students. In Asia, a Wharton MBA "might" be able to help me leap into the PE industry directly without going through the IBD stage (that's a big "might", i know), but my odds of landing in the PE/VC industry still look higher in Asia than in the US.