Is 60K Debt Worth It For A Degree? #Reddit #Finance

Is 60K Debt Worth It For A Degree? Let’s go over this great question I saw on Reddit and what I would do in his situation!

What’s up financial hocks so in today’s video we’re gonna be going over a good question i saw on reddit he’s asking is it good to go to a school for a good degree is it worth having 60k worth of debt i think this should be a good video especially somebody who had quite amount of debt uh after college so uh yeah let’s get into it okay 60k in debt worth it for

A finance degree at a top school so i’m currently in a situation where i was accepted in a t25 to t20 school in the states unfortunately my family makes unfortunately my family makes around 220k and i’m an only child so i receive very very little aid from my institution okay yeah yeah even though i mean that’s a lot of money um you know for both your parents

So that’s good but uh yeah for a student eight that’s horrible so i am currently looking at paying around uh 56 to 65k a year after my financial age financial aid which includes loans though my parents are willing to help they aren’t willing to finance my entire education and i would be looking at around 50 to 70k in debt after i graduate undergrad that sucks

You’re the only child and your parents are not going to help you out with that whole thing well these are helping out with some it looks like but not the whole thing so my goal is to work in investment banking or high finance high finance out of school and the university i’m looking at as one of the top schools in terms of recruiting giving the high salaries

Generally associated with high finance and assuming i can land an offer is going to such school worth the debt this is a good question this is a good question and uh using a lot of these i have maybe like two three um like different things or different answers um you know to your question but this one i pretty much is one thing i say go for it i say 100 go for

It you’re saying you’re going to a top school all right t25 the t20 school in the states okay and you’re going for a finance degree at um at the school looks like you’re already committed already focused i say go ahead and do it for sure i think this is going to be a great investment in you uh the networks you’ll get in you know the top schools for this finance is

Good on top of that i’m pretty sure you will be walking away with at the very minimum at least 90k probably 100k probably minimum 120 130k minimum but uh you can already be once you graduate and if you’re networking correctly i’m pretty sure you will uh have a lot a nice uh salary uh coming in so i definitely recommend going in on that um now when you graduate

Uh i wouldn’t recommend you just going you know full hem you know you’re making a hundred thousand dollars you make sure this would go wild i’d say rather you graduate uh try to leave you know try to live cheaply if possible if you can live with your parents definitely do that and you can just start knocking out that you know that debt that first year hey anyone

Hey technically speaking you if you if you leave college and you’re making 100k it won’t even take you a full year well i guess with taxes no no not even with taxes if you kind of just focus that first year you can knock that out still have a little play money and then taxes but definitely within two years um you can knock that out with a breeze or if you still

Want to move maybe a little somewhere cheaply for about a year or two so we’re not too far up um you know too far up your income and you can walk away having your all your debt cleared in your early 20s and still making a lot of bank uh you know which is great this is something a lot better than a lot of the other degrees like these art degrees you know coming

Out barely making 30k 40k i think this is something good and if i was you in your position i would go ahead and take this um i haven’t read all the comments on this i’m intrigued to see already if everybody’s agreeing with me or are they disagreeing saying you shouldn’t do this but for me somebody who did go to college a pretty good college and came out with

A lot more debt than just 60k i said go ahead and go for it especially with the danger guarantee that you’re going to be making bank but i do recommend no net working this is something i wish i did a lot more in college but definitely network um if you do it right i’m pretty sure you can get like yourself like either a good internship or a good job while you’re

Still in school maybe as a senior maybe during the summer time but if you network correctly and if you’re as committed as i s as you’ve seen from what i’m reading right here i think you’ll have a very successful life so i said man go ahead and go for it but guys in the comments they’ll only hear you guys thoughts too leave those there i want to put this on the

Reddit post so he can see it too so yeah if you guys got other ideas uh if you agree with me and disagree definitely let me know and i’ll see you guys in the next video peace

Transcribed from video
Is 60K Debt Worth It For A Degree? #Reddit #Finance By Financial Hawks