BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

Loan worries

Share tips as you apply, write essays, interview...
This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
Junior | Next Rank: 30 Posts
Posts: 22
Joined: Tue May 20, 2008 10:00 pm

Loan worries

by abhishingwekar » Tue May 20, 2008 10:10 pm
Hi All,
I am an average Indian student working in an MNC IT firm (TCS) from 3 years.I do not have great grades in my graduate exam and I belive I will get a decent score in GMAT (650).So given my details if I choose a college with a fees of $50K/per year, what are my chances of paying it back and in around what time?
I just want to know if I get an average salary of an MBA graduate as quoted by different magzines, will I be able to repay it back in 3-4 years??
Please help??
Top
Source: — The Application Process |
User avatar
Legendary Member
Posts: 543
Joined: Fri Jan 18, 2008 1:01 am
Thanked: 43 times
GMAT Score:580

by codesnooker » Tue May 20, 2008 11:00 pm
Dude one simple question to you (no offense) :-

Suppose if you come to know that you would be able to return back loan amount in 5-8 years instead of 2-4 years, then will you quit right now or start thinking of alternatives?

If answer is NO, then why are you worrying. Just chill !!! and enjoy your time. Work hard during your MBA Studies and after getting job only start thinking about repayment.

CONCLUSION: Its not worth to worry about the things that are not in your hand. You must be just wasting your time and killing your energy.

Hope this would help to you.
Top
Junior | Next Rank: 30 Posts
Posts: 22
Joined: Tue May 20, 2008 10:00 pm

by abhishingwekar » Wed May 21, 2008 1:13 am
See the problem is that I have other loans too, so this laon will also affect my financial situation. :(

So that's why I want to know about these things as I can plan out my loans even if I dont get any scholarships......

Just what is the average salary of a typical MBA grad from a normal college? and

What is the average cost of MBA in an average college?
Top
User avatar
Legendary Member
Posts: 543
Joined: Fri Jan 18, 2008 1:01 am
Thanked: 43 times
GMAT Score:580

by codesnooker » Wed May 21, 2008 2:15 am
Here is the comparison:-

https://www.businessweek.com/table/08/0228_roi.htm

HTH
Top
MBA Admissions Consultant
Posts: 690
Joined: Thu May 01, 2008 12:51 pm
Thanked: 39 times
Followed by:3 members
GMAT Score:750+

by VP_MBA_Guru » Wed May 21, 2008 6:57 am
Hi Abhi,
MBA loans are not fun - as with most top 2 year MBA programs, you will likely incur at least $100K in loans. That said, I strongly believe the experience and post-MBA opportunites are WELL worth the expense.

As you know, MBA salaries vary significantly, based on industry/position/region. So it is very difficult to say. Ranges go from $60K (for non-profit/government positions) up to $300K and higher (top tier PE/HF). So its very difficult to say. I would say that the average salary is around $100-$150K post-MBA.

Have you considered part-time programs? This would allow you to remain in your job while achieving your MBA. I am not sure if this is an option for you.

Good luck with your decision!

Regards,

NP
Nikhil P. | Admissions Consultant | Veritas Prep
Top
Junior | Next Rank: 30 Posts
Posts: 22
Joined: Tue May 20, 2008 10:00 pm

Thank you

by abhishingwekar » Sun May 25, 2008 11:24 pm
Thank you VP_MBA_Guru and Thank you Codesnooker!!!!!
Top
Master | Next Rank: 500 Posts
Posts: 198
Joined: Tue Feb 12, 2008 10:16 am
Location: San Francisco
Thanked: 14 times

by mbadrew » Mon May 26, 2008 7:02 am
Abhi,

If you can get into an AACSB accredited state school and pay resident tuition then you don't have to worry about racking up loans. SL's are ugly and painful once you begin paying them. If you've already accumulated debt in SL's then don't accumulate more debt. If your grades and gmat are not stellar then chances are you won't get into a top 10 school, which means average salary upon graduation. Think and then decide.

Andrew
Top
Junior | Next Rank: 30 Posts
Posts: 15
Joined: Tue Feb 18, 2014 3:29 am

by minalcorrera » Thu Apr 03, 2014 2:29 am
Hi, I am from a poor family background and wish to pursue MBA from S P Jain Global . I scored 690 in my GMAT and I got a very good GPA .. Will I get any kind of educational loan through the institution ?
Top
Newbie | Next Rank: 10 Posts
Posts: 2
Joined: Tue Apr 08, 2014 11:41 pm

by ArnoldBerg » Wed Apr 09, 2014 12:25 am
yea ! S P Jain Global provide educational loan of low interest . :)
Top
Junior | Next Rank: 30 Posts
Posts: 15
Joined: Tue Feb 18, 2014 3:29 am

by minalcorrera » Wed Apr 09, 2014 12:27 am
Oh ! Thanks for letting me know that . Can you please tell me what is its eligibility criteria to obtain an neducational loan .
Top
Newbie | Next Rank: 10 Posts
Posts: 2
Joined: Tue Apr 08, 2014 11:41 pm

by ArnoldBerg » Wed Apr 09, 2014 12:28 am
Hey sorry,I am not aware of the eligibility criteria.
But you can find out in S P Jain Global website. https://www.spjain.org/gmba/faqs.aspx
Top
Post new topic Post Reply
• Page 1 of 1