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haplessdreamer

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    MA International Relations

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  1. The outlook is terrifying to me: Loan Balance: $122,000 GradPlus Interest: 7.9% Loan Term: 30 years Monthly Loan Payment: $886 # of Payments: 361 It is estimated that you will need an annual salary of at least $106,404.00 to be able to afford to repay this loan. (average median salary post-SAIS is 60k... ) This estimate assumes that 10% of your gross monthly income will be devoted to repaying your student loans. This corresponds to a debt-to-income ratio of 1.1. If you use 15% of your gross monthly income to repay the loan, you will need an annual salary of only $70,936.00, but you may experience some financial difficulty.This corresponds to a debt-to-income ratio of 1.7. With a loan term of 30 years, you will still be repaying your debt when your children enroll in college. * * * I know each person's decision is personal, but do you guys see any hope or solace? Is an MA from SAIS worth the debt or justifiable? I have 3 options: 1. Stay at my current job and SAVE for 1 more year. I make about 45k now. Can probably save 15k if I really scrimp and scrape. 2. Take the 122,000k plunge and pray that my long term trajectory will be good enough to justify the debt.... Anyone have any experience 5-10 years out of school? What were your salary trajectories like 1 year, 5 year, 10 year out? Have you successfully paid off your loans before your kids enter college? 3. Marry rich. sigh... I plan to work part-time during the school year but this will only offset my costs by ~$13000 a year.... this still leaves $100k... more money than I've ever borrowed or had in my life.... I'm really torn and am not sure if I can justify this debt.... It's agonizing and sobering to think of the future... I can understand the justification behind 100k+ loan for a JD, MBA, or MD... but what are the earning potentials, on average, for MA in IR at the top schools? Any advice or insight would be appreciated....
  2. Is 120k in debt really worth it for an MA??? Even at the top schools? what are the earning potentials in the long run? That's like $500/mth for 25 years!!!
  3. I'm in a similar bind. Got into Harvard KSG, Stanford IPS, John Hopkins SAIS, UCSD IR/PS, Columbia SIPA. No funding at any of these schools. :'( I'm starting to worry about the enormous debt burden that I'm about to undertake. I currently have a stable job making in the mid-40ks with my BA but the job has no career advancement. My passion has always been in IR and I want to work in DC, State Department, NGOs, international development, etc. Cost of these schools: $80k for 2 years tuition + $20k for living costs... so realistically $100k in debt. It could be a little lower at $50-70k if I get a second year teaching assistantship. Expected median income upon graduation: ~$60k. I can stick with my current job and make over $60k in 5 years. Or go back to school for 2 years, get $100k in debt, and make $60k to start and potentially advance faster than with just a BA. Do you guys think it's worth it to get in that much debt? Or should I ignore the masters and try to see if I can get a career started in IR without the need for a masters?
  4. So I got into: Harvard KSG, Stanford IPS, John Hopkins SAIS, UCSD IR/PS, Columbia SIPA No funding with any of these schools. :'( My top choice is SAIS, Stanford, then KSG. I'm starting to worry about the enormous debt burden that I'm about to undertake. I currently have a stable job making in the mid-40ks with my BA but the job has no career advancement. My passion has always been in IR and I want to work in DC, State Department, NGOs, international development, etc. Cost of these schools: $80k for 2 years tuition + $20k for living costs... so realistically $100k in debt. It could be as low as $50-70k if I get a second year teaching assistantship. Median income upon graduation: ~$60k. I can stick with my current job and make over $60k in 5 years. Or go back to school for 2 years, get $100k in debt, and make $60k to start and potentially advance faster than with just a BA. Do you guys think it's worth it to get in that much deb? Or should I ignore the masters and try to see if I can get a career started in IR without the need for a masters?
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