Harvard MBA loans article

iVillage Member
Registered: 04-08-2008
Harvard MBA loans article
2
Wed, 07-25-2012 - 1:33am

http://management.fortune.cnn.com/2012/05/16/student-debt-business-school/?iid=HP_LN

What do you think?

I have some opinions but I'll hold them till someone else bites...

 

Dee

iVillage Member
Registered: 04-08-2008
Wed, 07-25-2012 - 10:44pm
I would defintely agree with the commenters missing the whole point of the article. I think it's like that movie "Super Size Me" where the guy eats nothing but McDonalds for one month. It was an experiment (one that caused that guy health problems). I think this guy showed us that there is a LOT of fat in most of our budgets - well, as you point out definitely as a single. My boys are only 4 & 2 but they eat as much as adults!

I also think it is pretty easy as a single person with a salary of $100K to do a lot of things though :smileyhappy: And I do think that his comment about education not being as useful as something like a car made him look like a bad financial expert, LOL. His salary went up $50K/yr...I don't see how a depreciating asset like a car can you bring you returns like that on your investment.

Thanks for the thoughts,

Dee

Community Leader
Registered: 07-26-1999
Wed, 07-25-2012 - 10:51am
I think its quite interesting that in almost all of the comments people slammed him for cashing in his IRA and then not getting the employer match of it. The two things I would say to that are, it was a 7 month journey, so other than what he cashed out, he didn't miss much, and second, if they knew anything about Dell, they would know that upper management has a high turnover rate and if the person isn't even vested in 5 years, they don't get the employer match portion anyways. In general it was a good article. I didn't read the blog myself, and I think at times, especially when you are single, it can be easy in an environment like that, to lose perspective and just go with teh flow spending money frivilously. I think a lot of the comments were missing the point of the article, it wasn't miraculous that he paid the money back "per his obligation" its how quickly he paid it back and the sacrifices he made and the hard work he put into it to do it.
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