Taking 70k in Student Debt

<p>I already posted this in the bschool forum, but thought yall might have insight here as well.</p>

<p>I got into the Duke MMS program. I wasn't awarded any grants, but I got about 70k in federal student loans to cover the entire estimated COA(tuition&fees + living expenses) for the one year program.</p>

<p>Fuqua is a great name brand, but I still won't be qualified for anything more than an entry level position after the program.</p>

<p>If I were to pass on Fuqua, I don't have any job prospects right now. I'd probably find something low paying if I tried though. </p>

<p>My parents will provide minimal assistance because they have already fully funded my 4 years and my sisters 5 years of undergrad. </p>

<p>Is it worth it? Any advice?</p>

<p>$70k borrowing for a one-year master’s program? That’s… a lot.</p>

<p>No, not worth it.</p>

<p>Advice is to find any job (since you don’t have undergrad loans you have more options) and apply for next year to grad school where you can get RA or TA position. This way your living expenses and tuition are going to be covered by the University.</p>

<p>What are your employment prospects following Duke? Do graduates of this MMS program go on to high-paying careers as would MBA graduates? With graduate school debt, it’s ALL about return on investment. Would the money you put in earn you MORE money on the other side - enough to pay off the loans and be worth it over and above the borrowing?</p>

<p>Looking at the MMS program statistics, it looks like the median salary of MMS recipients is about $60,000. That’s with 98% of their class responding. So no, I would say it’s not worth it.</p>

<p><a href=“https://www.fuquaworld.duke.edu/cmcfiles/DukeMMSFinalEmploymentStats2010-11.pdf[/url]”>https://www.fuquaworld.duke.edu/cmcfiles/DukeMMSFinalEmploymentStats2010-11.pdf&lt;/a&gt;&lt;/p&gt;

<p>And add to what others have said: only 18% of grads obtain jobs via Fuqua/Duke job posting. Obviously, you will face the same job search problem you are now facing.</p>