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Old 09-04-2009, 12:09 PM
 
508 posts, read 2,113,926 times
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Quote:
Originally Posted by sunset500 View Post
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
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.
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Old 09-06-2009, 08:37 AM
 
Location: The Present
2,006 posts, read 4,291,649 times
Reputation: 1987
I would say that you should educate yourself a little more exactly about the type of student loan(s) that your getting. Even if you are making a high salary that loan can still hurt your pockets, I second the advice on seeing if you can get a scholarship, lower tuition elsewhere.

There are so many people coming out of programs right now with so much debt, and they can't find that many opportunities to help them pay it off. Although I would say in the end its your choice and if it feels right to you despite the economic indicators, go for it.
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