Hello! I’m thinking about applying to a Master in Advanced Management at Yale School of Business (which is a post-MBA masters degree only available for MBA graduates from a network comprised of 30 of the top business schools in the world) but, as an international student from Latin America, who did her MBA with a full scholarship (yes, somehow I got a full scholarship for an MBA), I don’t have many options for scholarships in my country and I don’t have the resources to cover the cost of the program either, which is $97,500 total (living expenses included).
Is this a payable debt amount or is it too much to bear with after graduating?
Have you explored job opportunities and their salaries post graduation?
I think it is too much, but do you even have the ability to borrow that much?
This type of question comes up frequently on CC and I always scratch my head thinking, why would you care what any of us think about your debt situation? It’s such a personal issue. We don’t know your financial situation. We don’t know your employment plans or realistic opportunities. It sounds like a really great program and quite exclusive. Does that mean there are exclusive, high paying jobs likely connected to that path? Certain industries will pay you a ton right out of MBA and make that debt look meaningless. Others will not be as lucrative and you could be stuck with loans for a long time. It’s about your opportunities and there’s no way for us to know those details (yet I’m sure many will still give you their opinion - without any information).
How about getting a job, and working and saving?
You are an international student.
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unless you can borrow this money in your own country, it isn’t likely that you will be able to borrow it.
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unless this degree will get you a job in your own country where you will make enough money to pay off the debt, then it is too much to borrow.
Why do you think you need this degree?
I’m with @happymomof1 on this…you already have an MBA, what would this second master’s degree get you in the work marketplace? I am skeptical it would be worth taking on any debt, let alone forgoing earning a salary, getting more work experience, and perhaps even a promotion, during the time you would be in school.
That’s way too much debt for a master’s degree. I graduated with $50k in combined loans from by bachelors/masters degree, and even that was tough for the first several years. If you already have an MBA, getting further education probably won’t help you much more, especially if it’s $100,000. The job market is really driven by work experience. I think that’s the best route for your career.