Hello! The question is in the title. They gave me a lot of aid which brought it down to this sum but still kinda anxious. I really wanna teach after getting my license. What do you think?
There will be some who will say that any $ invested in a graduate degree is a bad investment, and that can be a legit argument, but you're getting a deep discount.
My only advice would be that the relationships you make - with other students and with faculty - are likely worth as much as the design education. If you're a more introverted sort, and not a natural networker, get over it and work hard to become good at it.
30k, if that is the full cost of attendance, is worth it. you could conceivably pay off that debt in 5-10 years post graduation. however, you should also factor in cost of living if you haven't- this amount can easily double or triple depending on where you are living.
Apr 12, 21 12:21 pm ·
·
nastronaut
I wouldn't take any debt from living expenses cause the place is cheap, but I would lose all my savings which is what's making me think twice. I trust myself to find summer work and teaching positions over the school year, but still kinda sad about the savings. The major reason is I really wanna transition to academia mid-career, and it seems that any school worth its salt has profs with ivy degrees, which is obviously a generalization and ik what u do w/ your degree matters more, but the trend cant be ignored. Point being, is that particular reason worth the investment?
Do yourself a favor and do the math to see what you'll owe immediately upon graduation.
Are the loans subsidized vs unsubsidized? This will determine whether or not you are paying interest from the date of loan disbursement vs date of graduation (plus ~6 month period). How many years will it take to get the degree? If it's an unsubsidized loan accruing interest for 2-3 years, this could end up pretty high.
Also look at starting salaries in the cities you intend to live in after graduation. I'd also recommend doing a google search for an amortized google spreadsheet, where you can put in your principle loan amount, interest rates, and payoff amounts so that you can get a sense of how much of a dent this degree will put in your wallet every pay-period after you enter the workforce. Here's one you can tweak: https://docs.google.com/spread...
30K is a lot. It's not insurmountable, but it's still a lot, and it's good to know the long term financial impact borrowing that amount will have on your long term financial goals/security. Things like buying a home/credit, etc will be impacted/delayed by this decision, so try your best to make a sober decision. I'd also recommend using financial instruments like Personal Capital to weigh all of your assets and debts against one another to see if you are already starting in the hole, or if you have other assets you can leverage (do you have a car, are you still making other payments, could you sell it, etc). The goal is to know just how much of that first paycheck you will receive upon graduation already spoken for by other debts and liabilities.
It seems like a doable amount of loan to me. I graduated with 30k in loans decades ago and the monthly payment was manageable over the years. If you consider inflation, it was actually way more than 30k in today's dollars. I think an Ivy degree is pretty much a requirement if you want to attempt to break into tenure-track teaching jobs.
Is there an Option B? If the answer is Ivy vs. no school at all, then go get your education. 30k isn't perfect but in the reality-based world its a very good deal.
30k for an Ivy League education vs. 30k for U of State... probably go with the Ivy.
30k for Ivy vs. 5k for State... I'd say save your money & get the state education.
30k for Ivy vs. 120k for Different Ivy... take the 30k.
30k worth an Ivy League M.Arch?
Hello! The question is in the title. They gave me a lot of aid which brought it down to this sum but still kinda anxious. I really wanna teach after getting my license. What do you think?
Yes.
There will be some who will say that any $ invested in a graduate degree is a bad investment, and that can be a legit argument, but you're getting a deep discount.
My only advice would be that the relationships you make - with other students and with faculty - are likely worth as much as the design education. If you're a more introverted sort, and not a natural networker, get over it and work hard to become good at it.
30k, if that is the full cost of attendance, is worth it. you could conceivably pay off that debt in 5-10 years post graduation. however, you should also factor in cost of living if you haven't- this amount can easily double or triple depending on where you are living.
I wouldn't take any debt from living expenses cause the place is cheap, but I would lose all my savings which is what's making me think twice. I trust myself to find summer work and teaching positions over the school year, but still kinda sad about the savings. The major reason is I really wanna transition to academia mid-career, and it seems that any school worth its salt has profs with ivy degrees, which is obviously a generalization and ik what u do w/ your degree matters more, but the trend cant be ignored. Point being, is that particular reason worth the investment?
Do yourself a favor and do the math to see what you'll owe immediately upon graduation.
Are the loans subsidized vs unsubsidized? This will determine whether or not you are paying interest from the date of loan disbursement vs date of graduation (plus ~6 month period). How many years will it take to get the degree? If it's an unsubsidized loan accruing interest for 2-3 years, this could end up pretty high.
Also look at starting salaries in the cities you intend to live in after graduation. I'd also recommend doing a google search for an amortized google spreadsheet, where you can put in your principle loan amount, interest rates, and payoff amounts so that you can get a sense of how much of a dent this degree will put in your wallet every pay-period after you enter the workforce. Here's one you can tweak: https://docs.google.com/spread...
30K is a lot. It's not insurmountable, but it's still a lot, and it's good to know the long term financial impact borrowing that amount will have on your long term financial goals/security. Things like buying a home/credit, etc will be impacted/delayed by this decision, so try your best to make a sober decision. I'd also recommend using financial instruments like Personal Capital to weigh all of your assets and debts against one another to see if you are already starting in the hole, or if you have other assets you can leverage (do you have a car, are you still making other payments, could you sell it, etc). The goal is to know just how much of that first paycheck you will receive upon graduation already spoken for by other debts and liabilities.
Good luck
30k total for Ivy league is dirt cheap. I would take it without a doubt.
It seems like a doable amount of loan to me. I graduated with 30k in loans decades ago and the monthly payment was manageable over the years. If you consider inflation, it was actually way more than 30k in today's dollars. I think an Ivy degree is pretty much a requirement if you want to attempt to break into tenure-track teaching jobs.
Is there an Option B? If the answer is Ivy vs. no school at all, then go get your education. 30k isn't perfect but in the reality-based world its a very good deal.
30k for an Ivy League education vs. 30k for U of State... probably go with the Ivy.
30k for Ivy vs. 5k for State... I'd say save your money & get the state education.
30k for Ivy vs. 120k for Different Ivy... take the 30k.
yeah 30k is worth it.
Block this user
Are you sure you want to block this user and hide all related comments throughout the site?
Archinect
This is your first comment on Archinect. Your comment will be visible once approved.