I am now the initial year undergraduate tyro during the in isolation university. we am majoring in Electrical Engineering, as well as my approaching staring income is about 60k. By the end of my undergraduate degree, we distributed which I’ll be during around 60k in tyro loan debt.
I am able of vital unequivocally conservatively ( not eating out, singular to no luxuries, etc)
I do not design which I’ll have any debt which we have to pay, on top of my tyro debt.
What I’m asking is, should go on my stream college meaningful which I’ll be 60k in debt? Will it means me any troubles in hold up such as anticipating the job? we unequivocally do not wish to screw myself over.
Thanks
For engineering? 60k is reasonable if you can get a job earning that much. Even with a bach degree in the field, the school can not guarantee you’ll find a job right away, or even find a job. Just make sure you have a back up plan in the event something happens or at least plan B for your education.
$60k is a realistic salary to expect in EE, so long as your uni is of good quality, and isn’t, like, "ITT Tech" or something like that. If your entry-level salary should be about $60k, then $60k is a bit high, though not so high that you’d find it impossible to pay off. Your monthly payment will likely be about $650+ per month. Is that reasonable to you? Can you handle that? That is a bit high.
Are there things you can do during college to bring the overall cost down? For example, at a lot of schools, if you sign up to be an RA, you get free or reduced cost room, which can save you some serious cash. In addition, I expect that you’ll want to do at least one engineering co-op, and those are often paid – so you can save that money and use it for school. Can you get a higher paying part-time job at school or in summers? For example, with progress toward an EE degree, you could apply to work on the Apple Genius Bar or for the Geek Squad, or do tutoring in math at school, etc. These sorts of things could help bring down your overall cost, so you can be in less debt upon graduation.
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I don’t know why it would affect you getting a job. It’s always best to have as little debt as possible. One way is to go to the least expensive school that offers the major you want; i.e. a state university in your state of residence, or even better, taking your first year or 2 at a community college if they offer pre-engineering classes.
If you have already cut costs as much as possible, then I guess you need to take the loans. If you do have a job paying 60K right away, it is possible to pay it off. Live like a tightwad for a year or two and pay it off as soon as you can.