I would like to know how does a loan works, intrest and is it a good idea.I really want get my mba, degree in any business feild full time tuition. By the way what is the difference between full and part time tuition. By having a mba what would be my average salery and what kind of careers can l obtain.
2006-09-23 13:32:20 · 8 answers · asked by Evolution KID 2 in Education & Reference ➔ Higher Education (University +)
First of all, if you're 15...you need to be getting your GPA way up (4.0), take some AP classes, and get involved in HS. Why get loans for college and then graduate with debt? Concentrate on SCHOLARSHIPS...there's PLENTY of money out there for those who want it, there's no need for people to be graduating in debt. It can be done (I did it!) I graduated and was debt free...ready to accumulate my OWN wealth, rather than pay money back to people.
Okay, now that we've settled that, let's get on to your other questions. BTW...great for you to be studying this now, really it speaks as to your resolve and it shows good decision making (at least you're researched your stuff).
Full time vs. Part time tuition:
When going to college, you can choose to be a full time student (12 credit hours or more) or a part time student (6 credit hours or less). Depending on where you want to be (and I recommend 12 hours or more because you graduate sooner) it'll decide how much you pay or how much you get in scholarship and grant money.
Careers, Salary:
As far as average salary (spell check next time) and careers, I'm not sure. I'm not in the business field so I can't help you there. Try speaking to someone already in the business field.
However, I highly recommend (if you do get a business degree) having your own business. The tax advantages are great, AND you'll be working on making your own money rather than working to help someone ELSE accumulate wealth.
2006-09-23 13:54:46 · answer #1 · answered by bitto luv 4 · 0⤊ 0⤋
It's good to know you're planning ahead, however you're still a long way from college. My advice would be to find a job and save as much money as you can. College is expensive beyond the cost of tuition alone. You really don't want to be hundreds of thousands of dollars in debt before you even graduate. Look for scholarship opportunities (this is money given to you, you don't have to pay it back.) When you do get accepted into a college, the financial aid office will give you a detailed report of exactly what it will cost to go to school there. After that, you can start looking into loans you can defer until you graduate. In order to have your loans deferred you must be a full time student (at most schools this means carrying about 12 credit or quarter hours.) In the mean time, be a great student in high school; this will set you up with every possible advantage in terms of scholarship opportunities and options to go to college. Good luck and work hard!
2006-09-23 13:41:07 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I commend you on looking to the future. This is a great question that so many your age do not think about. I would suggest that you try to keep your grades up in hopes of obtaining scholarships. Student loans can be helpful but if you don't have to take them out that will be GREAT. When it comes to tuition, you have to think about room and board, food which is a lot higher compared to someone who doesn't live on campus. Full time students attends school full time normally taking 15 or more credit hours. Part time tuition is a little cheaper and those students pay half the money and take less classes then what the full time student is taking.
2006-09-23 14:43:15 · answer #3 · answered by Shay 4 · 0⤊ 0⤋
Avoid student loans as much as humanly possible. They are evil. A student loan is forever. You cannot include it with a bankruptcy or run from it. So if you decide not to get that degree after all, you will spend the rest of your life paying these loans back (at 3-times what you took out). Search the web for student loan calculators to get Exact payback figures based on today's rates. At $200K, you would likelt be looking at like $800-1000 per month for 30-years.
Average salary is not the same as TYPICAL salary so be careful in determining this. Average might be reported at $50K while what Most people in that position get is closer to $25K, but there is one person who gets a big salary and throws off the curve. Plus average considers all levels in that position. Your first 5-years will be lower and no guarantee on that.
Best bet. Keep the grades up and get scholarships, apply for everything. I would actually recommend someone take 2-years off and work work work and save save save before taking out student loans.
2006-09-25 11:17:00 · answer #4 · answered by nativeAZ 5 · 0⤊ 0⤋
While I do like the fact that you are looking at the future. I do encourage you to look very much at the present, being right now. Get your grades at top notch levels, so that you WONT have to get a loan. Scholarships and grants are money that you do NOT have to pay back. LOANS are the ones you HAVE to pay back. 200,000 loan, sweetheart, you will be paying it back for the rest of your life. Loans are NOT what you want. Trust me!!!
2006-09-23 15:12:01 · answer #5 · answered by MadameJazzy 4 · 0⤊ 0⤋
If you wanna know... start fro the root, get this PDF from the source, read it, and write the guys at the U.
www.nyu.edu/financial.aid/loans-payplans.pdf
I started Univ studies pretty early, so I know is crazy to start thinking on this except if you are a Hi IQ student finishing HI S pretty early. One of my workers, from Mumbay finished IT science at 13 and medicine at 19.... so no all brains are created equal, you know....
2006-09-23 13:58:52 · answer #6 · answered by TuyoMio.com 3 · 0⤊ 0⤋
If you're really smart enough to get accepted into an MBA program, it shouldn't be that difficult for you to find this information online yourself.
2006-09-23 16:47:54 · answer #7 · answered by Jetgirly 6 · 0⤊ 0⤋
you are not old enough to get a loan.
2006-09-23 13:39:53 · answer #8 · answered by Anonymous · 0⤊ 1⤋