MBA grad with >$300k salary complains about MBA student loan

[smartdegree]

I posted this on a reddit thread but also posting here.  

https://fortune.com/2022/04/19/older-mil...repayment/

Seven years after earning her MBA, she still has just over $180,000 in student loan debt. “It doesn’t hurt me, but it’s still a factor in my decision-making,” Cristobal says. “I’ve always had to plan around the student loans.”

But Cristobal is not in a hurry to wipe out her federal loan debt just yet, on the slim hope that the Biden administration launches a forgiveness program. “This is where you start gambling a little bit,” Cristobal says with a chuckle. 

Yet she’s well aware that her chances of getting $50,000 or even $10,000 knocked off her outstanding balance are minimal. “Nothing AOC or Bernie Sanders has put forward will benefit me. I’m now too successful to count,” says Cristobal, who feels like she’s being punished for her success.

[ss20ts]

She's also complaining about paying taxes. How does she think she got some of those student loans? If she's making $300K a year, I'd focus on paying off my student loans before buying a house. I would want them paid off ASAP so they're not hounding me for years and accumulating even more interest.

She finishes Loyola with $25K in student loans and then racks up $200K in loans for her MBA? Did she take an accounting or finance class? $200K for an MBA is ridiculous. She didn't even go to Harvard or Yale! She's whining about the lack of connections she made at Loyola and she should have gone to an Ivy League school for her undergrad. Lemme find my violin! BRB

She sounds absolutely exhausting. There's a stereotype about Millennials about their sense of entitlement and this girl does nothing to help break that stereotype at all. No one said the American Dream was free!

[FastTrackDegree]

It's a pretty slow process to get the money back when on top of the tuition you lose 2 years of income and have to live in a fairly expensive city like Chicago. Not a very good investment for most people IMO. Maybe she'll be debt free by 45 if she wants to, after that she should be doing pretty good... Depending on the interest rate it may not matter that much anyway...

[smartdegree]

It's a pretty slow process to get the money back when on top of the tuition you lose 2 years of income and have to live in a fairly expensive city like Chicago. Not a very good investment for most people IMO. Maybe she'll be debt free by 45, after that she should be doing pretty good...

That's assuming she doesn't lose her job. I just checked her Linkedin and it looks like she lost her job in April (around the same time as the article was released). I wonder if this article pissed off people in her organization / circle. Maybe she is a nice person in real life, but the article's quotes sound like they were made by a self entitled narcissist.

[FastTrackDegree]

Here is a review of the Executive MBA at Booth.
https://youtu.be/qe5JGT-SJ98

[LevelUP]

“Nothing AOC or Bernie Sanders has put forward will benefit me.”

When did AOC or Bernie Sanders ever make sense?

[ss20ts]

Here is a review of the Executive MBA at Booth.
https://youtu.be/qe5JGT-SJ98

He has a follow up video:

https://www.youtube.com/watch?v=tie8PuKg1bI

He has a lot of good advice. He's a guy who spent $200K on the degree and says it isn't worth the money. Not many people will admit that. What he learned wasn't anything taught in a textbook.

[bjcheung77]

I'm so glad I didn't have money to borrow or get loans from way back when I started college (or when finished High School)... The thought of debts and rising interest rates scared me back then and still do now. Hopefully sometime in the near future, all students who borrowed will get a "lucky wipe" of their interest and just have to pay their borrowed amount... As this is really getting out of hand, it's ballooning up to the amount of debt similar to purchasing an apartment or house!

[wow]

I don't care how expensive it is to live in Chicago. It's not so expensive that it was impossible for her to pay off her entire debt in a year if she had chosen to live modestly (well, before she got fired). No sympathy, not sure why she expects help from Bernie or AOC. No, she's probably not the one percent, but she's not struggling either.