Paying for my graduate studies - Funding my MBA aka footing the bill for my masters education!
One thing for sure, higher education in United States is uber-expensive. It is a sure way to get yourself bankrupt, as I am slowly (or rather quite quickly) finding out. My MBA tuition per semester quite high, and student loan options minimal.
Well, I am about to start my MBA and paying for it has become a big issue. Right now, I am estimating the cost of my entire MBA education to be about $30,000. My MBA program would last 2 years, instead of 3 as I already have a business degree.
For the $30,000 student loan I have looked at Chase and Sallie Mae. Government loans are not an option, and I am not going into the specifics of it. The loan options usually involve paying interest rate while in college or pushing everything until you get done with your MBA program. I am considering paying my interest fees while in college, and this would reduce my overall cost of loan. Co-Sign is a must for me as I don't have much of a credit history, and I have only two credit cards, one being chase and the other being capital one, with no other loans. I would also be paying off my remaining credit card loan, so I would be technically debt-free at next month, plus my Credit Score is over 700.
I haven't yet started applying for loans, but I will from next week, as I search for other options to pay for my education. One of my friends recently got approved for a $5000 loan from Chase bank to pay for his tuition, which is a small amount compared to my $30,000 loan, but I am going to ask him how his experience was, and post it here so that other students too can know how chase processes its' student loans.
If you guys have any recommendations or any experience from Chase or any other financial institutions regrading students loans, please do leave a comment as this would help me greatly.
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