# How expensive is MFE/MQF/MAF/MSF

#### VPoneday

##### Member
Hi guys,

just can't believe that there are people out there that are ok with forking out the money for a masters?
Fees (inclusive of living expenses)
1. Purdue is cheapest at "only" 62k
2. Ohio state university 89k
3. UCLA $133k how do you all get the money? And how do long do you think you need to pay it back? And if you do have$100k lying around why don't you just invest in the stock markets instead of going back to school?

for reference, Singapore fresh graduate wage is $25k. We don't really get bonus over in Singapore (1 month if you're lucky). Our local universities cost around$25k and students spend a few years to pay back student loan. Our bank loan can only lend up to 10 times our salary which is not great enough for any masters in the US

#### Seemalb

##### New Member
For loan purposes
Use prodigy finance, they'll fund you!

#### VPoneday

##### Member
For loan purposes
Use prodigy finance, they'll fund you!
Dont want to be stuck repaying my loans for 10 years man. They got high interest rates.

#### Seemalb

##### New Member
Dont want to be stuck repaying my loans for 10 years man. They got high interest rates.
It is 7-8%
get a us cosigner else

#### VPoneday

##### Member
It is 7-8%
get a us cosigner else
Yeah but as an int student I wouldn't know anyone. STEM OPT is 3 years and I'm not confident that I can repay back the loans in 3 years. I mean we all hope for the best like of course we're gonna find high paying jobs after graduation, but I need to plan for the worst. Dont want to default on debt.

#### Seemalb

##### New Member
I don't think your problem has a solution,do you?

#### QuantQuestion

##### Member
So in Singapore you would take out 25K in graduate loan to make 25K on graduation, but you won’t take out 62K to make 100K in the US?

#### noether-skolem

##### Member
If you don't think the potential return of the degree is not worth the risk/cost, why did you apply?

#### nothingnew

##### New Member
1. Where do i get the money?
Family support

2. how long do you think you need to pay it back?
My family does not expect me to pay it back in my life. Personality, I am confident that I can pay it back in 5-10 yrs.

#### VPoneday

##### Member
If you don't think the potential return of the degree is not worth the risk/cost, why did you apply?
I applied to a variety, to see where would I get accepted to. And costs are not always transparent in the website, they only told me AFTER i got accepted.

#### VPoneday

##### Member
1. Where do i get the money?
Family support

2. how long do you think you need to pay it back?
My family does not expect me to pay it back in my life. Personality, I am confident that I can pay it back in 5-10 yrs.

3. If you do have 100k lying around why don't you just invest in the stock markets instead of going back to school? Education is the best investment. One more thing, studying abroad is a privilege, not a necessity even for American students who want to study in Europe. I personally agree with @noether-skolem , if you don't think you can pay it back, why did you apply? I have replied to your previous posts, you want to work and stay in the US, that makes sense to me. But OPT and working visa is not the only way nor necessarily the easiest way to immigrate. Good luck and hope you will receive generous scholarship! It's good that you can depend on your family. On my wages I can eat ramen everyday and not be able to save much. Singapore has compulsory pension and our cost of living is high. i want to get a masters degree because i'm not able to apply for the jobs that I want based on my credentials now. Apparently GPA is super important in SG even though it's my nth job; and apparently NUS is not really recognized in USA (gets rejected for admin jobs) #### Onegin ##### Active Member C++ Student It sounds more like you are trying to confirm a decision you’ve already made, rather than actually seeking new information. So, you’re right. Even if you did go to a top program, you’ve already chosen your excuses and justified yourself in not even trying, because hey, you already know the outcome. So why bother? If you did give up the excuses, then you’d have the responsibility and risk of figuring out how to make it work. You’re right, there is no guarantee you’d make 100k out of school. But a lot of people do, and many are from countries with a GDP per capita much lower than Singapore. The path isn’t for everyone. If you have made your decision, then own it and move on. #### longgamma ##### Active Member C++ Student Have you looked at MS CS align or the professional masters programs ? Not trying to discourage you but Software engineering jobs are way more plentiful and also it’s a transferable set of skills in other countries. Also take a look at data science programs, as many banks are looking to add data scientists to the program. Good luck ! #### VPoneday ##### Member It sounds more like you are trying to confirm a decision you’ve already made, rather than actually seeking new information. So, you’re right. Even if you did go to a top program, you’ve already chosen your excuses and justified yourself in not even trying, because hey, you already know the outcome. So why bother? If you did give up the excuses, then you’d have the responsibility and risk of figuring out how to make it work. You’re right, there is no guarantee you’d make 100k out of school. But a lot of people do, and many are from countries with a GDP per capita much lower than Singapore. The path isn’t for everyone. If you have made your decision, then own it and move on. I've not really made up my mind. I'm just asking everyone for logical answers. I just feel that instead of logical answers, everyone tells me "emotionally" that all MFE are so good and the school fees are nothing lol. I mean I get it that everyone is different but it feels rather weird that nobody address the rumours of (salaries being overstated, immigration issues, overrated schools like non-Ivy Leagues). Well, at the end of the day isnt all evil employers the same? They try to underpay you? The100k salaries everyone talk about is surely the exception and not the norm right? Or are americans so damn rich that $100k tuition fees are nothing and doesn't keep them up at night for months on how they will pay back their student debt. I've read plenty of posts on reddit and other forums to know that's a valid concern. It's not like I can go up to people and be like "be my guarantor because I will earn$100k upon graduation lol". They won't believe me. So if I take a no-cosigner loan, that will mean I'm the only one believing myself and will have the ultimate stress knowing that at any one point if things go wrong (and something will always go wrong, whether it's failing exams or can't find a job), I have no back up options. Nothing.

PS: not sure if you know of any Singaporeans in your course. We're a pretty rare species and we don't think the same as other "countries with lower GDP lol". That's why I have nobody to turn to but this forum, because like I said already this is a country where few people do a masters degree.

#### longgamma

##### Active Member
C++ Student
If RoI is so critical, nothing wrong in that btw, then maybe mfe isn’t the best option. As you are limited to financial institutions mostly. Maybe software engineering is a safer bet - atleast you will get a job if you are competent.