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Got a $60k scholarship at a top 15 with $0 savings and financed 100% of the rest of the cost. Took a private loan, got screwed when my initial lender (CommonBond, stay the hell away from them) canceled my second year loan over the summer without informing me and I only found out when my year 2 tuition never got paid. Took out a shitty last minute loan with Sallie Mae at 9.5%. Graduated with $130k in student debt and additional $40k credit card debt. Paid off the 40k in cc debt + $21k in student loan debt (minimum payments only) in year one post-grad. Just consolidated the student debt and refinanced down to 3.6% 12 year term on the remaining amount once my credit score got back to 760+. Could pay it off in 2-3 years but with that interest rate I'll probably invest instead. Could have refinanced sooner but decided to refinance a mortgage first.
My post-grad salary is 3x higher than pre-MBA. Will break even including opportunity cost between year 4 and 5 post-grad.
Congrats on Kellogg? ☺️ Very similar ballpark to EY1. Total private loans were $125k and most people I knew used a combo of savings and a CC to cover about $30k to $50k for living expenses, misc. during that time.
In terms of payoff I could have done it in 2-3 years had I maintained my pre-MBA COL. However, given mortgage rates and strong investments, I opted to pay just a little above minimum payment for a while and will end up paying off in about six years.