How much debt from a TT?

(Applications Advice, Letters of Recommendation . . . )

How much debt is manageable?

None
8
21%
45k
11
28%
60k
14
36%
80k
2
5%
100k
4
10%
 
Total votes: 39

llachans
Posts: 597
Joined: Wed Aug 24, 2011 12:54 pm

How much debt from a TT?

Postby llachans » Thu Apr 12, 2012 11:36 am

How much debt is manageable from a TT (COL + tuition), assuming you get a job after graduation?

- I realize that it is risky to assume that you will in fact get a job after graduation, but can you base your answers on this assumption.
-manageable, not desirable.
- My lowest answer is 45k. That assumes a full-ride + 15k/year for COL, which seems realistic.

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bne
Posts: 59
Joined: Fri Apr 06, 2012 1:45 am

Re: How much debt from a TT?

Postby bne » Thu Apr 12, 2012 12:00 pm

It's hard to tell because it really depends on the salary of the the job. Also, this would be your total debt correct (includes undergraduate loans, etc)?

llachans
Posts: 597
Joined: Wed Aug 24, 2011 12:54 pm

Re: How much debt from a TT?

Postby llachans » Thu Apr 12, 2012 12:04 pm

bne wrote:It's hard to tell because it really depends on the salary of the the job. Also, this would be your total debt correct (includes undergraduate loans, etc)?

Yeah. No previous debt. Only 4k in savings. I'd like to go into criminal law, working for the government. Clearly my salary wouldn't be that high. On the other hand, the school I'm most likely going to has a great handle on it's market. If I do well, I'm fairly confident I can have a job lined up at graduation. If I don't do well (outside of the top third), I plan on dropping out.

bdole2
Posts: 271
Joined: Sat Nov 13, 2010 5:58 pm

Re: How much debt from a TT?

Postby bdole2 » Thu Apr 12, 2012 12:35 pm

Depends on the TT. But I would say 60k would be close to the limit for most schools.

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dowu
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Re: How much debt from a TT?

Postby dowu » Thu Apr 12, 2012 1:32 pm

flem wrote:I think you can borrow up to what you reasonably expect to make your first year out. So if you expect to make 60K out, borrow up to 60K.

This depends on other factors, obviously. Also make sure you factor in interest. That shit compounds while you have no way to pay it back since interest starts accruing the second you take loans out.


Great avatar tflem! I love that movie.

Calchexas
Posts: 79
Joined: Fri Oct 22, 2010 2:31 am

Re: How much debt from a TT?

Postby Calchexas » Thu Apr 12, 2012 4:20 pm

As always, take the rankings in stride. The job prospects vis-a-vis debt incurred at, say, SMU, is a world of difference from Hofstra.

If we're talking about the "purer" TT schools, then yeah, general consensus is on the money; however, the best schools in TT evoke a "tier 1.5" status in terms of job prospects, and would therefore warrant a little more willingness to incur debt.
Last edited by Calchexas on Thu Apr 12, 2012 4:24 pm, edited 1 time in total.

bobbyh1919
Posts: 560
Joined: Fri Nov 11, 2011 9:40 pm

Re: How much debt from a TT?

Postby bobbyh1919 » Thu Apr 12, 2012 4:24 pm

Calchexas wrote:As always, take the rankings in stride. The job prospects vis-a-vis debt incurred at, say, SMU, is a world of difference from Hofstra.

If we're talking about the "purer" TT schools, then yeah, general consensus is on the money; however, #s 51-60 (maybe even 61-65) kind of evoke a "tier 1.5" status in terms of job prospects.


No

Calchexas
Posts: 79
Joined: Fri Oct 22, 2010 2:31 am

Re: How much debt from a TT?

Postby Calchexas » Thu Apr 12, 2012 4:25 pm

Yes.

bobbyh1919
Posts: 560
Joined: Fri Nov 11, 2011 9:40 pm

Re: How much debt from a TT?

Postby bobbyh1919 » Thu Apr 12, 2012 4:27 pm

There is certainly variation in a group that consists of 50 schools, I concede that. But your suggestion that schools #50-65 represent "Tier 1.5" is arbitrary and misleading.

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bne
Posts: 59
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Re: How much debt from a TT?

Postby bne » Thu Apr 12, 2012 4:32 pm

flem wrote:I think you can borrow up to what you reasonably expect to make your first year out. So if you expect to make 60K out, borrow up to 60K.

This depends on other factors, obviously. Also make sure you factor in interest. That shit compounds while you have no way to pay it back since interest starts accruing the second you take loans out.


This.

Calchexas
Posts: 79
Joined: Fri Oct 22, 2010 2:31 am

Re: How much debt from a TT?

Postby Calchexas » Thu Apr 12, 2012 10:18 pm

bobbyh1919 wrote:There is certainly variation in a group that consists of 50 schools, I concede that. But your suggestion that schools #50-65 represent "Tier 1.5" is arbitrary and misleading.


You kinda ninja'd my editing job on the post: I realized (and now concede) that specifically defining 50-65 as "tier 1.5" is inaccurate, but didn't get the edit in before your post. So yeah, I understand you taking issue with that lol. ;]

Still, the main point I was trying to get at was that the line gets kind of blurred when you get to the highest end of TT. And because the line gets blurred at some point, the definition of how much is too much also blurs.

bobbyh1919
Posts: 560
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Re: How much debt from a TT?

Postby bobbyh1919 » Thu Apr 12, 2012 11:12 pm

I think most importantly it just matters on the situation. I'm from NJ and have never set foot in Texas. For me, a full ride to (T2 Texas school) wouldn't make a whole lot of sense. Rutgers though, maybe I'd go for a half ride. Just an example, but there cannot be a generic answer to how much debt is too much debt.




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