Tuesday, February 24, 2004

Money, Money

Just completed the Tuck FinAid application form, it's due tomorrow. Basically they ask for your entire asset base including cash, 401K, real estate etc. Of course, I deducted the 50 bucks it's going to cost to next-day-express-air the application because I waited till the last day :-)

It was sobering to actually sit down and take stock of the money part of the equation. This whole process has been almost like a game, a lot of fun, without much thought to the costs. While the $120,000 loan numbers are daunting, a friend of mine at b-school said that it's not all that bad. The first year is rough, but the second year is supposed to be workeable. Internships are a good source of cash( he threw out numbers like 20-30K salary for the summer). My roomie at grad school (he was an MBA student) was helping out his professor's consulting work and got paid around 10K every 3 months or so. I also know of people who consult with startups/local industries/their old companies etc during the second year for some decent cash on the side. Schools like Sloan have TA's that pay tons of moolah - upto 67% of tuition I think in cases. Bottom line - the average loan at graduation, around $70K starts to sound like a more plausible number.

Of course, I fully intend to be a stock options millionaire a few years out of school so this should be moot. What ... it's not 1998 you say ? dang !

OK, back up plan - any decent job should be able to afford payments of this amount. right ... oh, i forgot the whole outsourcing thing.

Worst case scenario - I get shipped off to India. Even then it should be OK I think, I know kids 3 years out of engineering school buying $70K houses in bangalore. if they can afford it, yogi abso-f*$*-lutely can. but ... what if I get married off to someone and have to support a wife and 3 kids ..

Absolute Worst (or Best) case scenario - I get into the dowry thing that goes on in India. I hear US-MBA's can pull in upwards of $200k in dowry for some unsuspecting small town belle with super rich parents :)

problem solved, sobering thoughts gone, finAid form signed and sealed. life is good.

{PS : On a more serious note, Absolutely seriously kidding about the dowry thing, i am viscerally opposed to that system. I had a cousin go thru hell with the kind of demands her in-laws made a few years ago and I pretty much showed the door to a couple of dudes who came asking for my sis' hand in marriage and my dad's savings account. But a John-Kerry-type deal might work for me though :-) }
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