Do you think it is worth it to take out a $40,000 student loan to...

Original post by MRSJLK

Nov 04, 2005 11:05 AM

attend Grad School??

espresso Posted: Nov 05, 2005 01:41 PM

Re: Do you think it is worth it to take out a $40,000 student loan to...

It depends...what are you going to grad school for?

I will have a total of about 120,000 in debt by the time I'm done with law school.

mbm750 Posted: Nov 06, 2005 04:29 PM

Re: Do you think it is worth it to take out a $40,000 student loan to...

I think the answer is almost always yes - but you have to consider how much you want this, what your earning potential will be when you're done, and whether this particular program/school will help you find a job, what kind of job, how much pay, etc. I have about 160K in loans from law school and undergrad (I just graduated in May), but it was worth every penny. I passed up a scholarship to go to the school I went to but it more than paid off in the job search. And, even if you're talking about a masters in lower paying fields, if it's going to make you happy and get you a job you really want, I still think you should do it. You get a long time to pay off the loans and 40K is actually not that bad for school these days. Good luck!!!

steph4777 Posted: Nov 07, 2005 08:54 PM

Re: Do you think it is worth it to take out a $40,000 student loan to...

I did it.... I considered it an investment in myself. DH will have close to $80K in student loans by the time he's done with law school. Luckily he didn't have any undergrad loans.

06NovBride Posted: Nov 07, 2005 09:31 PM

Re: Do you think it is worth it to take out a $40,000 student loan to...

You really have to sit down and think about it. Work it out moneywise. I currently have $25,000 in student loans from my undergrad and my expected payment is about $200 a month, so with $40,000 you'd have to expect it to be around $300-$400. If the job you can get after you get out of grad school will cover that extra expense then I say go for it.

MRSJLK Posted: Nov 08, 2005 04:39 PM

Re: Do you think it is worth it to take out a $40,000 student loan to...

Posted by N.Y.bride

Id say its worth it, however $1,000 per credit is a bit much. Is there a way you can go to a cheaper school and get the same benefits?

I wish I could...it's a program related to Media Studies and I haven't found any other schools that has a program such as this one. I still have to get accepted into the program...I find out the first week in Dec.

ckgmwedding Posted: Nov 08, 2005 07:14 PM

Re: Do you think it is worth it to take out a $40,000 student loan to...

Well, think about how many of us spent that on one day!

dbleplay17 Posted: Nov 08, 2005 10:21 PM

Re: Do you think it is worth it to take out a $40,000 student loan to...

i took out 18500.

but it will result in a pay raise

Mrs.A2006 Posted: Nov 08, 2005 11:13 PM

Re: Do you think it is worth it to take out a $40,000 student loan to...

I think it is worth it! Good luck with school.

cocoa Posted: Nov 09, 2005 06:08 AM

Re: Do you think it is worth it to take out a $40,000 student loan to...

first of all, you are taking out a loan. so when it comes time to pay back, it will be like paying a car payment every month. secondly, in most careers, the increase in pay makes it worth it. and not to sound hokey, but we never think twice about buying shoes clothing and purses that cost hundreds of dollars. these are things we will most likely give away in a few years. but your education is not something you will give away, you will have it for the rest of your life. it is a good investment in yourself. you deserve that!

nov04LIbride Posted: Nov 09, 2005 09:18 AM

Re: Do you think it is worth it to take out a $40,000 student loan to...

Posted by MRSJLK

Posted by N.Y.bride

Id say its worth it, however $1,000 per credit is a bit much. Is there a way you can go to a cheaper school and get the same benefits?

I wish I could...it's a program related to Media Studies and I haven't found any other schools that has a program such as this one. I still have to get accepted into the program...I find out the first week in Dec.

What types of jobs can you get with this degree? What are the job placement rates from the program? How much do the jobs pay? An investment in education is a good one, but my cousin took out over $50,000 for a master's in journalism and is now working in Pottery Barn. The jobs are few and far between and pay very little. Now my brother took out over $150,000 to go to an Ivy League law school, but will be making over $200,000 his first year out, so it paid off.

As someone who works in a college, the Media Studies degree sounds kind of general, and not necessarily geared towards a specific career (I could be wrong)...Make sure it will pay off at the end. Stuff like 'film studies' sometimes doesn't pay off.

jeanla4c Posted: Nov 09, 2005 11:37 PM

Re: Do you think it is worth it to take out a $40,000 student loan to...

YES! My masters program at Columbia was 60K for two years and I did it and it was soo worth it, now I am back in school again for my doctorate, but got funding (this year I am paying NOTHING!!) so yeah Education to me is always worth it!!

conigs25 Posted: Nov 10, 2005 11:36 AM

Re: Do you think it is worth it to take out a $40,000 student loan to...

Nothing is more valuable than education

Wintersbride Posted: Nov 10, 2005 02:45 PM

Re: Do you think it is worth it to take out a $40,000 student loan to...

Yes if it will get you the job you want. Happiness has no price tag. OMG that line was kinda corny wasn't it?

I am doing it. I will also be in a career that will make me very happy and bring in some real $$$. It is worth it! I would rather do that then be stuck in a job I hate for the next 30 years!