UChicago MPP (no funding)?

[alec]

Hi Friends,

I'm fielding an unfunded offer from the U of Chicago for Masters in Public Policy. It's certainly one of my top choices but the cost of it is almost prohibitive. I would have to take out massive loans to fund my education, and room and board. I'm wondering if anyone else was/ is in the same position as me? Or if going to the program is worth it?

[polarscribe]

If you have to cover the entire cost of a graduate program with loans, and it's not law or medical school, you pretty much shouldn't do it.

You'll be saddling yourself with enormous debt that will take a decade or more to pay off. Even borrowing $75,000 will leave you with a $900-per-month student loan bill. Those payments are due regardless of whether you get the awesome $80,000-per-year job or whether you're stuck as a Starbucks barista.

It's a cash cow for the school and a way to drive students into penury.

Edited March 27, 2011 by polarscribe

[namename]

If you have to cover the entire cost of a graduate program with loans, and it's not law or medical school, you pretty much shouldn't do it.

You'll be saddling yourself with enormous debt that will take a decade or more to pay off. Even borrowing $75,000 will leave you with a $900-per-month student loan bill. Those payments are due regardless of whether you get the awesome $80,000-per-year job or whether you're stuck as a Starbucks barista.

It's a cash cow for the school and a way to drive students into penury.

That's not necessarily true anymore, depending on the nature of the loans (federal or private). The OP should look into the updated IBR payment schedule.

OP: I am in a similar situation, except that I am also intending on going to law school after my policy degree. Though I probably won't be taking on $250,000 in debt to go to Chicago MPP and law school, $100,000 in debt could be manageable for you, depending on salary and if you qualify for/use the IBR program/public interest loan forgiveness program.

Edited April 4, 2011 by namename

[Avi]

Hi,

Even i have an MPP admit from Harris School with no funding. It was one of my top choices too but now I am seriously looking at declining the offer and going instead for a masters in climate and society at Columbia instead, where I have partial funding. I am also planning to decline an MDP offer from Minnesota, LSE and Boston each as well as a phd offer from Cambridge. Thoughts?