Carnegie Mellon Tepper

Even though some companies will do no co-signer loans to undergrads, the interest rates are high (mid teens)…I agree that much in loans is untenable regardless there’s a co-signer or not. That amount would impact your credit rating, your ability to take on more debt (car, home, grad school), and the ability to take a great job that might pay less. It might also impact who would consider getting into a serious relationship with someone with that level of debt.

If you are interested in studying business, now is a good time to understand how debt works. Here’s a debt repayment calculator where you can see how much $180K in debt would require in monthly payments (for 10 yrs/120 months) and how much you would need to earn to make those payments.

Have you run CMU’s NPC to make sure you would not get any need based aid?

3 Likes