davidthefat wrote:Well I assume I would be making 60-80k out of school if I apply at JPL, they always need more people. That can take a bout 4-5 years to pay off right?
Whoa there cowboy.
Let us look at this carefully.
Assuming you get into one of these schools (which more than likely will not happen), you'll be paying 40k a year in tuition, then housing, food, car, gas, car maintenance, and general expenses. thats thats probably another 20k a year.
So, assuming you actually finish your degree in 4 years, thats a nice little total of (40k+20k)*4 = 240k, assuming that inflation does not rape you, which if you know anything about economics is right around the corner for the US. But lets be optimistic, since it seems you have already taken this route.
Now, lest not forget that this loan accrues some interest.. I think they are about 10%.
Lets also assume that you wont have to pay off the loan till after graduation, and lets also assume that in the 4 years, the interest is not ran or compounded(which it is if i recall).
Also assuming that the interest rate does not change, which it almost always does. you will be looking at a 5099 odd dollar a MONTH payment, to get rid of the loan in 5 years. not likely.
Also, assuming you make it into one of these schools, get the degree and get the job, you will NOT be making 80k, probably 50k, if you are lucky. after taxes, you are looking at 30k.
I would love to see you pay of loans, pay rent/mortgage, food and so on, with that..
I think you might want to re evaluate your situation.
I know people in the late 30's still paying off ivey league loans.