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I saved like crazy during 5 years and paid for it without loans. But I am very risk averse and don’t like debt. You could make more money if your investments yield a higher ROI, but: 1) investments are always risky and 2)I would much rather have the peace of mind knowing I’m free to seek any post-MBA job without a big debt burden.
But, then again, to each their own.
I was able to save enough to cover 100% of tuition and COL (had a good situation: single, international projects so no apartment, etc) but that typically isn’t the case for most people. I did have to liquidate a bunch of passive investments to make it though. As for budget, it is basically exactly what the school guidelines mention. You may save a few thousand bucks by having a roommate or not traveling as much, but in my opinion it just isn’t worth it in the grand scheme of things.
Combination of both is most common/preferred. You want to maintain some level of liquidity for contingencies and not cash out high-return assets. Using some savings and not all loans also tends to help people keep spending in check without being too frugal (middle ground lifestyle)
How's your credit? You'll need that APR to stay in the 2% range to make loans worth it.
~800 but founded solely on CC history