Kay

How She Paid for Her MBA

Federal loans, private loans

Her Story

Kay financed her MBA with direct federal loans and private loans up to the maximum student budget. Originally from Illinois, she lived in New York City before moving to Philadelphia for Wharton.

Kay shopped around to get the best terms for her loans. She advises that students get to know general loan vocabulary and how variable interest rates are calculated, since they differ by lender.

“Know that you might have to apply multiple times to the same lender, and that each application takes a few days to process,” she says. “Every time you make a change (fixed vs. variable, signed vs. co-signed) you need to reapply to get new quoted interest rates.”