Is Ross MBA worth $150K in student debts?

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viraj_jain: Newbie | Next Rank: 10 Posts; Posts: 9; Joined: Sun Jun 03, 2012 1:08 am

by viraj_jain » Sat Jun 01, 2013 7:44 am

Greetings!

I need a little help with making an important decision.

I am an international and have been accepted to Michigan Ross off the waitlist. Unfortunately, I haven't been offered any scholarship. So I will have to take the entire amount in loans, should I decide to attend.
Is Ross worth borrowing that kind of money (About $150K)?

Thanks!

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Source: Beat The GMAT — Ask an MBA Admissions Consultant | Sat Jun 01, 2013 7:44 am

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CriticalSquareMBA: Legendary Member; Posts: 1088; Joined: Thu Apr 18, 2013 3:29 pmFollowed by: 52 members; Thanked: 171 times

by CriticalSquareMBA » Sun Jun 02, 2013 2:55 pm

Congratulations!! That's great news. Ross is a fantastic program and we always hear the highest praise for it.

Unfortunately, there is no right answer here. If you're worried about the money, it really comes down to what you want to do after you graduate. If you're going into finance (banking, PE, etc.) or consulting, you'll be able to pay off your loans without an issue. Also, an MBA is your path into them whereas without one it would be much harder. If you go into a corporate job that doesn't pay as highly, then you might have some issues.

Nowadays, a top 10 or 20 MBA tends to be worth it and there are numerous articles out there to support that position. Of course, there are those who disagree. However, in my opinion, if what you want to do after your MBA will benefit FROM that MBA, then yes, the debt is worth it to get a top 10 MBA.

Good luck!

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MBAPrepAdvantage: MBA Admissions Consultant; Posts: 810; Joined: Thu Jun 16, 2011 1:12 pmFollowed by: 35 members; Thanked: 127 times

by MBAPrepAdvantage » Wed Jun 26, 2013 9:06 am

Your decision is both financial and personal.

From a financial perspective, you need to weigh if your expected salary will make the $150K investment worthwhile. Go to the Michigan Ross career resources page and see what average salaries are in your chosen function, industry, role, etc. Then forecast this over a lifetime.

From a personal perspective, will your life change in such a way that makes even a negative financial decision positive in the long run.

Then ask yourself what are your other options and are these better financially and personally.

Good luck,

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