Patrick Thomas
speaker
995 appearances
15 recordings
1 series
first heard Jul 2018
last heard May 2024
Patrick Thomas’s voice in public audio — every appearance, attributed to the second.
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Appearances
But for everybody else, the Grad Plus program is kind of one of the main ways they finance these debts.
Yeah, those students, especially, again, if you go to one of the top schools and you end up in consulting, you end up in finance, especially if you don't have a lot of other expenses or are married and don't have kids yet, you can pay these off pretty quickly with the salaries they're making.
I mean, one of the students we talked to,
They expect they're going to make $200,000, which is pretty standard with signing bonuses at consulting firms.
If you're going to work for McKinsey, the expectation is you can pay them off quickly.
And that's what these students have largely done.
There's a few other ways.
One of the student alums we talked to had decided not to pay them down right away because she felt that she refinanced her federal loan, felt like she would make more money
by putting a little bit of her savings in to not pay it down immediately, but by putting some of her new salary into the stock market and her 401k.
And there was no rush because with the MBA, you knew you were going to pay it off eventually.
But you can kind of make it work for you.
I mean, the best way to pay it off is really just when you go into a higher paying career.
You can get it off your books pretty quickly with some of those jobs.
Right.
That is a really important point.
A lot of experts say it's important to take in consideration other life circumstances around you.
Do you have over $100,000 in undergrad debt still hanging over you?
You might want to double check that because that's a pretty big deal.
You know, do you have mortgage, car payments, rents?
I mean, just where are you in life?
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