rick- the problem is you are only able to make the decision based on the information available before the fact. what you know for sure is that a hys degree will cost you 270k with interest ticking all the time. that is given. everything else is a variable.
i was going to write a long explanation as to why, on its face, financing a hys degree in its entirety is a terrible idea, but i realize it will likely fall on deaf ears. if you believe that's a good idea, then there's very little you won't believe, and there's very little chance i can change your mind.
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flem wrote:ze2151 wrote:rick, it comes down not just to 1st year exit options, but sustainability. the reason the rule of thumb is a good rule is because, even if you could guarantee a 160k job coming out of hys (you can't) you have to be able to sustain that job long enough to pay down a mountain of debt.
in fact, i would go as far as to say that hys at sticker, financed completely, is a disastrous idea. no one should take out 250k+ in unsecured, high-interest, non-dischargeable debt. and this would only add onto whatever undergrad debt a person is carrying (and someone inclined to finance the entire cost of attendance probably didn't have a lot of money lying around at the undergraduate level and so likely has undergrad debt too). do the math on a 10 yr or 25 yr payment plan for 300k of debt. it's positively insane to advise anyone to take out that kind of student loan debt, unless the person you're advising is going to be a medical doctor (see, the stability caveat).
But hey, YOLO
Maybe the YOLO mantra is not such a great idea:
http://www.huffingtonpost.com/2012/09/1 ... 80348.html
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