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I've been wondering something, and I know this forum might be a bit biased towards frugality but I want to see your viewpoints.
I'm currently entering Year 2 of university for a Bachelor of Commerce degree. I'm living at home right now. Assuming my marks will stay the same (or even go up a little a bit, I had to figure out how to balance my schedule first year):
I'm sure you've heard about Ivey's HBA program. It's 2 years after doing two or three years of an undergrad, and is very prestigious. Based on what I'd have on my application, I think I might be able to be accepted.
I'm wondering if it's worth it to go. From what I can see, if I do my degree at home the average starting salary is about $42,000, while if I went through Ivey's HBA for the last 2 years, the average starting salary is about $65,000 with a 92% employment rate 3 months after graduation. That's a pretty big jump.
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Here's the expenses in a nutshell, not factoring in scholarships. Since Year 1 is done I'll add it to the total, it was about $8400 for tuition and $1000 for textbooks. I won't include the car stuff. Tuition will increase a thousand this year onwards since I'll be in paid co-op at home:
SITUATION 1 - HOME:
Year 2 - $9400 + $1000 textbooks
Year 3 - $9400 + $1000 textbooks
Year 4 - $9400 + $1000 textbooks
Total Cost: $31,200 + $9400 Year 1
Grand Total: about $40,000
SITUATION 2 - IVEY:
Year 2 - $9400 + $1000 textbooks
Time for Ivey!
Year 3 - $25000 + $3500 textbooks + $1500 fees + apartment + other expenses I probably forget
Year 4 - $25000 + $3500 textbooks + $1500 fees + apartment + other
Total Cost of Ivey: $60,000 + apartment and other (est $25,000 for two years?)
Total Cost: $85,000 + $10,400 Year 2 + $9,400 Year 1
Grand Total: about $105,000
That looks sort of nuts. But the job prospects are really good...
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I'm probably leaving out a bit, but in the long term I'm wondering if this is worth it. I'd probably have to take a bit of a loan or something, but not for all of it. If it's about $100k my dad could pay for $35,000 or so (I'm guessing, would have to ask lol) out of pocket or so then I'd have to get creative with scholarships or something, and pay for part of it myself with loans covering the difference. By that time I could probably cover about $20,000 myself with cash, so I'd have about $50k in loans if I got 0 scholarships?
I'm currently entering Year 2 of university for a Bachelor of Commerce degree. I'm living at home right now. Assuming my marks will stay the same (or even go up a little a bit, I had to figure out how to balance my schedule first year):
I'm sure you've heard about Ivey's HBA program. It's 2 years after doing two or three years of an undergrad, and is very prestigious. Based on what I'd have on my application, I think I might be able to be accepted.
I'm wondering if it's worth it to go. From what I can see, if I do my degree at home the average starting salary is about $42,000, while if I went through Ivey's HBA for the last 2 years, the average starting salary is about $65,000 with a 92% employment rate 3 months after graduation. That's a pretty big jump.
---
Here's the expenses in a nutshell, not factoring in scholarships. Since Year 1 is done I'll add it to the total, it was about $8400 for tuition and $1000 for textbooks. I won't include the car stuff. Tuition will increase a thousand this year onwards since I'll be in paid co-op at home:
SITUATION 1 - HOME:
Year 2 - $9400 + $1000 textbooks
Year 3 - $9400 + $1000 textbooks
Year 4 - $9400 + $1000 textbooks
Total Cost: $31,200 + $9400 Year 1
Grand Total: about $40,000
SITUATION 2 - IVEY:
Year 2 - $9400 + $1000 textbooks
Time for Ivey!
Year 3 - $25000 + $3500 textbooks + $1500 fees + apartment + other expenses I probably forget
Year 4 - $25000 + $3500 textbooks + $1500 fees + apartment + other
Total Cost of Ivey: $60,000 + apartment and other (est $25,000 for two years?)
Total Cost: $85,000 + $10,400 Year 2 + $9,400 Year 1
Grand Total: about $105,000
That looks sort of nuts. But the job prospects are really good...
---
I'm probably leaving out a bit, but in the long term I'm wondering if this is worth it. I'd probably have to take a bit of a loan or something, but not for all of it. If it's about $100k my dad could pay for $35,000 or so (I'm guessing, would have to ask lol) out of pocket or so then I'd have to get creative with scholarships or something, and pay for part of it myself with loans covering the difference. By that time I could probably cover about $20,000 myself with cash, so I'd have about $50k in loans if I got 0 scholarships?
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