Quote:
Originally Posted by sunset500
Hey everyone,
I want to eventually relocate to NYC. Right now I am looking at a grad program that will put me about 100k in debt for student loans, though with a starting salary in NYC of 120k.
Admittedly I don't know too much about student loans so I'm not sure what my repayment plan would look like -- I wouldn't be surprised if it were 1k + a month.
My question: Roughly what standard of living (types of apartments, especially) can I expect to have if I live in Brooklyn with this salary and debt? I don't spend money on too many frivolous things, mainly books and clothes. Though I do moderately-priced take-out often, nothing expensive in terms of restaurants. Also, I am single.
Thank you for any insights
John
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I wouldn't do it. I would go to the school or to a program that is either giving you a scholarship or is low tuition.
Most people are not making six figures anymore, so there is no guarantee that you will make 120K afterwards. And if you don't, you will have problems.
Lastly, you can probably live with the 1K+ per month loan repayment when you're single but how long will you be able to live like that. For 20+ years? Probably not.
I would think long and hard about that one.