Part-Time Crook – I see what you’re saying, but I’m still asking my questions because I feel like it and because there are others here who’ve been through the process that can offer interesting insights. I value what other people have to say. If you don’t care to read my posts, then skip over them. I mean, you can feel free to complain about my questions and posts or whatever, but you’ll just be barking up the wrong tree. Peace out.
QuantJock_MBA Wrote: ------------------------------------------------------- > I have no problem with Numis posts. I’ve gained > alot from > him and others when > posting questions. For once the guy would like > some guidance, why all the hate? > > Business school is a big decision, and like > myself, Numi simply wants to engage in the best > decision he can. Rest assured, not everyone is > like this and I’m sure numi will meet some > ignorant undergrad to MBA students whom feel > entitled to an ibank, mgmt consulting, or exec > level role simply for obtaining the MBA. Thanks QuantJock_MBA – I appreciate your thoughts and advice. Looks like you’ve done a lot of research on this stuff. I haven’t reviewed my actual offer packages yet since I’m not at home right now, but as I work through the material, I hope you don’t mind if I follow up with you privately as questions arise. Thanks again!
We all know you have cash- if you are matriculating next fall they will be going off your 2009 returns where you will not look poor. I don’t know about these ppl referring to subsidized loans but I doubt you’ll qualify considering you have no family, home, etc. They consider pretty much all your assets as spendable unless they are primary residence equity/ 401k type of stuff. Your PA is fair game 
If you do have cashola and you want a chance I suggest you gift it to ppl you trust for safe keeping. Max out your retirement allocations, do everything to get it sheltered to give yourself a chance at some real aid!
I have no problem helping someone along preemptively. I did so myself, and it served me well. Montauk’s book is key for 90% of the FAQs for business school, but the last 10% is the personal aspect. I applaud your dedication for due diligence so far in advance. I did, and I was pleased. It’s helped me keep the big end picture in mind while you’re trudging through various cases for various remedial classes. At my school (like most B Schools), there are a few students who’ve done no due dilly whatsoever, yet feel like the MBA alone will prepare them for everything. One guy in particular has “I ran a lawn mowing business for 3 years and I feel I can take those skills to the investment banking world” in his bio. No joke. He is a nice guy and I like him, but he needs to get a clue regarding the means to his end goal. I imagine too many other B school students have not done any research regarding their goal, or have not thought of any goal at all. Just my .02. To respond to akanska, she is correct. If you have not done so, realize some of those unrealized stock losses and make any big purchase you need to now! Before 2010. The 2009 AGI/Income figure on your tax return will be what is used for FAFSA. FAFSA is good for the Stafford loans, but the GradPlus loans are comparable to those in the private sector. I didn’t search much, and wish I had since the interest rates are pretty high (8ish%). Hiding some assets is a stretch. Do it now if you want to go that route. As I mentioned, FAFSA will ask for your bank/brokerage account balances and may demand statements as proof.
Part-time Crook Wrote: ------------------------------------------------------- > ^apparently we became numi’s personalized > human-answered Google.com > > I’m anticipating numi’s following topics: > > - Dudes, best places to live near my business > school? > > - Dudes, what MBA clubs would you join? > > - Dudes, do you think a mix of three Strategy > courses and two Marketing courses is a good > choice? > > - Dudes, I have these options for my 1st year > Internship, thoughts? > > - Dudes … Dude, did you attend a small community college? If that’s so, then numi is really making you feel small. No offense.
^Maybe he went to Greendale
hey- no dogging the CC dude!! I went there and it was the best decision of my life. By doing so I emancipated myself and was able to do FAFSA based on my income alone (the holy grail of student aid). Transferred to top 10 undergrad and graduated with a total of 5k in subsidized debt which I then deferred for 4 years by taking part time art/ weight-room coursed at another CC. My diploma says the same thing as my classmates- just cost me a lot less and let me graduate with enough saving to do what I actually wanted instead of taking the first offer to make my loan pmts.
I had like 40 college credits when I finished high school because I took PSEO classes at a CC, not all of them transferred but it helped me finish in three years instead of four.
JOE2010 Wrote: ------------------------------------------------------- > Dude, did you attend a small community college? If > that’s so, then numi is really making you feel > small. No offense. Me? Lol. Trust me Joe, I didn’t. I actually went to one of those beloved business schools repeatedly mentioned here. Probably numi will find my profile if he goes to the same school I went and take a quick look at recent classes’ yearbooks. There are not too many guys from Argentina every year at any top three-five MBA program. That’s exactly why I think numi is making way too much noise about it, however I understand the situation. When I knew I was admitted, I actually couldn’t sleep well for many nights and made many mistakes during the preparation process prior my first semester (housing, student visa, personal matters, banking, registration for International dudes, and many others). Besides, it’s just holiday season and I’m just trolling around. Numi knows I like his attitude.
numi Wrote: ------------------------------------------------------- > > (3) naturallight, please clarify your comment on > the interest rate on the Stafford loans being > locked in, and why that ended up being a detriment > to you – what were the circumstances related to > that? It was a detriment b/c rates were falling when I was in school (fall 07 to spr 09). My rate is something like 6.6%. My wife consolidated her loans when I was in school, and her new rate is only 3.6%.
bpdulog Wrote: ------------------------------------------------------- > I have a question about the 529, since I just read > the following on a website: > > “You won’t receive a Form 1099 to report taxable > or nontaxable earnings until the year you make > withdrawals.” > > I plan on withdrawing from the plan once I enroll > to cover living expenses, books, etc. Were you > taxed on your capital gains while in school? > Something doesn’t add up here. not quite sure I follow…with a 529 plan they do the investing for you (you can’t hold individual stocks) so the only time you’d have capital gains is if you did a redemption. And if you spend the proceeds on school stuff, it’s not taxed.
numi Wrote: ------------------------------------------------------- > naturallight Wrote: > -------------------------------------------------- > ----- > > > Another tidbit: at a certain income point you > can > > no longer deduct the interest on your student > > loans. > > Lastly - and perhaps you can shed some light on > this - if I quit my job in early 2010 and only > have capital gains from investments and freelance > consulting work for 2010, will that ensure that I > fall below that income threshold and thereby allow > me to deduct student loan interest expense for tax > purposes? Or, are they just going to look at my > W-2 for 2008 or 2009 to determine my income > threshold? No, I think it’s on a year to year basis…just depends on what your agi for that particular year is. I can’t remember what the threshold is, maybe check irs.gov.