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Mr Calvin Oscar

By Mr Calvin Oscar
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Kasper

Kasper

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My financial aid package is pretty good. Parent contribution is $19k a year, but my dad is saying that the most he can pay is $12k, which makes no sense given our income (well off, in theory at least). I'm willing to take loans, and I know Wharton is Wharton, but realistically at what point do loans become too big of a burden to be worth it?

Is $30k, even $40k a manageable figure?

edit: I know that's almost a stupid question, and I'm still shitting my pants at having this opportunity, but at what point is undergrad debt too much?

a little late on this, but it really depends on what do you plan to do and where?

If you plan to work in a demanding but high paying job (banking or consulting), then $40k is definitely manageable (i finished uni with a little under $40K and paid it off with my first bonus). But if you plan on having a life and doing something else, then you'll soon realize that even if you make $50-$70K a year after graduation, after taxes and living expenses, there isn't that much left and it will take years to pay it back.

Also, i would say it really depend where you are planning to work after graduation. if you plan on coming back to work in Canada, keep in mind that you'll be taxed at canadian rate and you won't really have any advantage over students from Queen's, Ivey and McGill (if anything, you'll have a disadvantage as most companies won't come to Wharton for recruiting so they'll have to fly you over, which is expensive). And there's also a certain stigma about grade inflation at Ivy's so you'll need top grade (at least GPA > 3.7-3.8 if you want to get banking interviews). I am quite involved with recruiting at my firm and we actually interviewed a Wharton undergrad last fall, and the guy actually flew on his own dime to meet us as he said otherwise most canadian banks wouldn't bother flying him over (the guy had an outstanding resume, 3.95 GPA, spoke 6 languages, had a summer intern with a BB in NYC, etc) so i would keep that in mind when making your choice (of course the class of 2009 probably had the worst recruiting season ever, but still).

Anyway, long post, but my main point is that Wharton name, strong alumni, etc will go a long way if you decide to pursue a career in the states, but if you think you'll likely end up in Canada, i would carefully think about it.

For the record, nobody is making 200K straight out of undergrad

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poly800rock

poly800rock

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BU is offering me about 20k/year, so that's almost definitely where I'm going? Anyone else? Super roommates?(!)

i think BU offered me like the same package...and that was back in 99. Too bad I still would have had to pay $20k a year.......that school is so fucking expensive.

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nabhan

nabhan

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a little late on this, but it really depends on what do you plan to do and where?

If you plan to work in a demanding but high paying job (banking or consulting), then $40k is definitely manageable (i finished uni with a little under $40K and paid it off with my first bonus). But if you plan on having a life and doing something else, then you'll soon realize that even if you make $50-$70K a year after graduation, after taxes and living expenses, there isn't that much left and it will take years to pay it back.

Also, i would say it really depend where you are planning to work after graduation. if you plan on coming back to work in Canada, keep in mind that you'll be taxed at canadian rate and you won't really have any advantage over students from Queen's, Ivey and McGill (if anything, you'll have a disadvantage as most companies won't come to Wharton for recruiting so they'll have to fly you over, which is expensive). And there's also a certain stigma about grade inflation at Ivy's so you'll need top grade (at least GPA > 3.7-3.8 if you want to get banking interviews). I am quite involved with recruiting at my firm and we actually interviewed a Wharton undergrad last fall, and the guy actually flew on his own dime to meet us as he said otherwise most canadian banks wouldn't bother flying him over (the guy had an outstanding resume, 3.95 GPA, spoke 6 languages, had a summer intern with a BB in NYC, etc) so i would keep that in mind when making your choice (of course the class of 2009 probably had the worst recruiting season ever, but still).

Anyway, long post, but my main point is that Wharton name, strong alumni, etc will go a long way if you decide to pursue a career in the states, but if you think you'll likely end up in Canada, i would carefully think about it.

For the record, nobody is making 200K straight out of undergrad

I'm not that interested in coming back to Canada. I love Montreal and Vancouver, but all the big finance/business stuff is in Toronto and I'm not a fan. I hear visas are a bitch to get, but the thought of working in Hong Kong or something is actually pretty cool.

By the looks of it, the cost is pretty manageable and my parents are saying that I won't have to take out much in loans if at all, but they want to take them out anyway and invest them since it's four years interest free :|

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xerrox

xerrox

Posted
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Berkeley>Penn>other stuff.

GO BEARS.

As a Penn student , pffft

Actually, as much as I love Penn, it's full of JAPs and the worst kind of asians, and on a whole everyone is pretty selfish and arrogant. So maybe you made the right decision and good luck!

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xerrox

xerrox

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Haha I hate on Stanford too, but I'd go if I got in haha. And ya hella Jews and Asians at Penn right? ESP Wharton, but I'm Asian so I woulda been all guuddd

I'm a Wharton Asian haha. Yeah there are TONS of Jews (35% of the school) and Asians (25%). I'm from bumfuck nowhere, so coming to a school full of Dalton/Harvard-Westlake/Horace Mann kids was a huge adjustment. I mean, I love it here and wouldn't want to be anywhere else, but objectively the atmosphere here feeds off materialism/selfishness/wealth, more than at the other Ivies I've been to for sure.

Also everyone here is racing for that Goldman or McKinsey job (myself included), but, I think what my friend says sums it up

"I kind of wish I'd just gone to UD instead. Then I would never have heard of Goldman Sachs or McKinsey or Bain or Blackstone or Apollo and I could just be happy doing whatever."

DISCLAIMER: It's finals and I think that brings out the existentialist in everyone.

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