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UpstateNYUPSer(Ret)

Well-Known Member
73k? That's ridiculous. Will that MBA be worth that investment? If yes, then paying it down won't take long. If not, then that was a poor investment. The problem with kids and school is they don't look at it like an investment. That's why while I'll always be supporting of what my kids want to pursue, I try to teach them to have a fall back skill or degree that's in demand or pays well.

If your son's MBA will raise his income and make him in demand for salary negotiations, then he should be able to wipe that debt out easily. Some employers who want sought after candidates for certain positions, actually offer to pay their loans off as a "signing" bonus. Happened to my wife. Top luxury retail company wanted her so bad for a position, it was negotiated into her contract

He is locked in at $55K plus full benefits for his first 3 years. He will be making more than I do within 5 years. For him, the investment was worth it.
 

Orion inc.

I like turtles
He is locked in at $55K plus full benefits for his first 3 years. He will be making more than I do within 5 years.

If it isn't close to $150,000 /year, I would wonder if the MBA investment was worth it. My wife has one but hers did pay off way more then she invested.

It's always a toss up. He should definitely pay it off before he takes on a mortgage or anything.
 

brownmonster

Man of Great Wisdom
I am all for saving but have to disagree with you when it comes to college kids.
My oldest has a student loan balance of 30k and she has 27k in the bank. Trying to get her to pay it off and save another 25k in interest over the next 15 years. Tough to pull the money out once it's saved. (She lives at home yet).
 

Brownslave688

You want a toe? I can get you a toe.
My oldest has a student loan balance of 30k and she has 27k in the bank. Trying to get her to pay it off and save another 25k in interest over the next 15 years. Tough to pull the money out once it's saved. (She lives at home yet).
Why in the world would she take out that long of a student loan.


Refi for 5 years if I was her.
 
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