‘Admitted Students’ Articles at Heller Admissions Blog

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Neighborhood Profile: Waltham

Today, I’m kicking off a new series that will be released throughout the summer, focusing on popular neighborhoods for Brandeis students living off campus. Finding the right apartment and neighborhood to call your home for the next few years can often feel like a challenge, so in this series, I’ll explore some of the best places to live near the university, highlighting the unique characteristics and attractions of each neighborhood. Whether you’re an incoming freshman or a returning student looking for a new place to live, this series will provide valuable insights to help you find the perfect home away from home. First up: Waltham!

Distance from campus: .25 – 2.5 miles away, depending on where you live

Distance to Boston: ~9 miles

Average rent: $1,750 for a studio; $2,395 for a one bedroom; $2850 for a two bedroom ($1,425 per person); $3,250 for a three bedroom ($1,083 per person); $3,800 for a four bedroom ($950 per person)

Transportation: Waltham is served by the Massachusetts Bay Transportation Authority (MBTA), which operates commuter rail, bus, and subway services throughout the greater Boston area. The Waltham station on the Fitchburg Line provides commuter rail service to downtown Boston, with trains running every hour during peak times. The MBTA bus system also has several routes that run through Waltham, connecting residents to neighboring towns and cities. For those who prefer to drive, Waltham is conveniently located near several major highways, including I-90 (the Massachusetts Turnpike) and I-95/Route 128. These highways provide easy access to Boston, Cambridge, and other surrounding towns.

Restaurants: Waltham is known for its diverse range of restaurants, cafes, and bars, catering to every taste and budget. Moody Street, in particular, is known for its wide variety of dining options, including Italian, Asian, and American cuisine. Some of the most popular restaurants in Waltham include Deep Ellum, Sweet Basil, In a Pickle Restaurant, Lizzy’s Ice Cream and The Chateau.

Outdoor activities: The city is surrounded by several parks and nature reserves, including the Waltham Riverwalk, the Charles River Greenway, and the Beaver Brook Reservation. These offer miles of trails for hiking, biking, and walking. The Charles River is also a great place to kayak, paddleboard, or fish.

Entertainment: Waltham is home to several art galleries, including the Robert Treat Paine Estate’s Gallery 121, which features rotating exhibits of contemporary art, and the Waltham Mills Artist Association, which showcases the work of local artists. For music lovers, Waltham is only a short train ride away from venues like Roadrunner, Brighton Music Hall, and Paradise Rock Club, but Waltham also has venues of it’s own, including The Charles River Museum of Industry and Innovation, which features a variety of music events throughout the year, and the Watch City Brewing Company, which hosts weekly live music performances. Waltham is also host to several yearly festivals, including the Watch City Steampunk Festival, Spring Fest, and the Phantom Gourmet Food Festival.

In short, Waltham is an affordable and easily accessible city with a diverse range of restaurants, outdoor activities, and easy transportation options. Its proximity to Boston and other surrounding towns makes it an ideal place to live for those who want to enjoy the suburban lifestyle while still having easy access to urban amenities. Plus, you can’t beat that short travel time to Brandeis’ campus!

Plan for an Admitted Student Day

February 23, 2023 / amandamiller / 0 Comments

If you’re one of our newly admitted students, congratulations! This is a great achievement, and we are excited to welcome you to Heller. As a newly admitted student, you’re no doubt wondering what the next steps are, or trying to imagine your life as a Heller student. To help you make such a big decision, Heller is offering a variety of events just for admitted students, both in-person and virtually, and this blog post, we will explore why we strongly recommend trying to attend one of these events.

Learn More About the Program
While you no doubt researched the Heller School extensively prior to applying, now that you’re admitted, you’ll find that there is more to learn because now there’s more to plan! By attending admitted student events, you’ll have the opportunity to learn about more details of the program. These events, whether in person or online, gives admitted students the chance to learn about the program’s curriculum, research opportunities, experiential learning opportunities, and career services. Having this information early on will help you start to make more informed decisions about your academic and professional goals.

Get to Know Your Future Classmates
Graduate school is not just about academics, it’s also about building your network and forging relationships. During many of these admitted student events, you’ll have the opportunity to start getting to know your future classmates and forming these friendships. You will be spending a significant amount of time with them, so it’s essential to start building relationships early. Having these connections even before the school year begins will allow you to start building a support system that will follow you through your academic journey and into your career.

Meet Your Professors
At the Heller School, our faculty members are not just accomplished academics but also practitioners in their fields. By attending admitted student events, you’ll have the opportunity to meet your future professors, ask them questions, and learn about their research interests. Building relationships with your professors is an important first step to finding a mentor, and admitted student days are a great time to start forging these connections. This is extremely important, as the faculty members at Heller are able to provide you with valuable guidance throughout your academic and professional career.

Experience the Heller Community
Lastly, attending admitted student events will give you a glimpse into the Heller School’s unique community. The Heller community is diverse, supportive, and passionate about social justice. By attending these events, you will get a sense of our community’s values and culture. At many of these events, you’ll also have the opportunity to hear from current students about their experiences at Heller.

Calah’s Experience Shipping Off to Boston

November 29, 2022 / cmcquarters / 0 Comments

Calah McQuarters, MBA’23

At the time I was accepted to Heller, I lived in Tulsa, Oklahoma. I was born and raised in Tulsa but moved in 2017 to attend my undergraduate university in Washington DC. In March 2020, like many people around the world, the coronavirus pandemic brought me back home from college to finish my junior and senior year on zoom. While I enjoyed living with my parents again and taking advantage of free groceries, post-graduation I was eager to figure out what the next season of life looked like away from home. First, I made a plan: work for one year, then start grad school. The end. I wasn’t sure what I wanted to study, where I wanted to live, or how I was going to get there, but I knew my plan and I was determined to see it through. So, when I received my acceptance letter from Heller on April 1st, two questions were answered. I knew I would be studying for a Social Impact MBA, and I knew I would be moving my life to Boston, Massachusetts. However, those two answered questions raised so many more. Where was I going to live? How do I even find an apartment? What do I need? Why are utilities not included and so expensive?!

And thus began the tumultuous, emotional, exciting, and draining journey towards August 12th, the day I arrived in Massachusetts to sign my first ever lease on an apartment. I will sprinkle words of advice as I detail this journey, but please remember this experience is different for everyone. I have heard the transition for some was seamless, while for others it was less than pleasant to say the least.

I began looking for an apartment in the greater Boston area in February. Now, if you’re following along, you will remember I didn’t get accepted to Heller until April 1st, but I knew if I was to be accepted, I would need to be ahead of the curve. Having said that, I was definitely a little too far ahead. Any place I called, emailed, or messaged on Apartments.com said the same thing: “We’re looking for tenants to move in around June 1.” I wasn’t planning on moving until late July at the earliest, so this quickly dashed my dreams of finding an apartment fast and checking that off my to do list. (1) Start looking for an apartment a couple months in advance, but don’t be discouraged if you don’t find something immediately. Good things come in time!

As I said before, I was born and raised in Tulsa, Oklahoma, where a nice 2 bed 1 bath apartment (my exact criteria) cost no more than $1100 max (utilities included!). Armed with this knowledge, I began my search for an apartment with the same general expectations. My bubble was quickly busted. Not only did I need to adjust expectations for rent and utilities, but also for other necessities I had been taking for granted in the warmth of my parents’ home, such as groceries, gas, or fun activities (those are important!). (2) When looking into a graduate program, also look at expenses related to living in surrounding areas and take note of what adjustments you need to plan for in advance (eg. will you need to travel by car or is public transportation available).

Fortunately for me, I convinced my sister to come along for the ride of graduate school with me, so I had already found my roommate. Check! However, in our excitement, dreaming of our new life together not far off in the distance, we may have dreamed a little too big and not quite practically enough. We spent entirely too much time at Target, Walmart, Marshalls, TJ Maxx, Ross, and Burlington in the month before moving to Massachusetts. Our list of “needs” very clearly and quickly expanded to a list of wants and that is how we ended up with a key bowl that now holds potatoes. (3) When thinking about what you will need after moving, stick to your needs! There are lots of opportunities to purchase your wants when you get to where you’re going. Targets are everywhere. This will also make the process of packing and unpacking so much less stressful. Also, take advantage of second hand if that’s your thing. I can definitely thank Facebook Marketplace for my couch and coffee table.

August 10th, my sister and I began our three-day journey across 1,500 miles in a 10-foot U-Haul towing a car headed towards a new experience. This journey, much like our overall journey, was full of fun memories, hangry moments, exhaustion, and lots of coffee. And it was worth every second. Living, working, and studying in the Boston area has been a dream come true. The people are nice (mostly). The food is good (mostly). There is always something to explore (after getting through traffic). And life overall is good (and sometimes stressful). (4) Whatever your experience, make sure you take moments to pause and reflect on all that you have learned to make it to now. Don’t be discouraged. The moment is coming when life overall will be good (and still probably a little stressful).

How to Prepare for Your First Semester

August 4, 2022 / amandamiller / 0 Comments

(This is an update of Doug Nevins’ 2021 post). As I write this blog post, less than a month remains before classes start at Heller. For admitted students, I imagine the next month will be filled with excitement, anticipation, and impatience. If you are planning to begin classes at Heller this fall, I hope you have the chance to take a break from work and other obligations and relax, travel, and see family, as well as apartment hunt and begin preparing for classes. Here’s my advice for preparing for the academic and professional side of things, so that you can hit the ground running once classes begin.

At this point, you should be able to view the schedule of classes either on Workday or on the Registrar’s website. You can get a sense of what classes you are required to take this fall, as well as what electives are suggested, by looking at either the website of your academic program or the Individualized Learning Plan forms available for most programs on the “for students” section of the Heller website. These forms can help you to outline your schedule for the next couple semesters. While it’s not necessary to have everything planned out before you start, I found it helpful to peruse these materials before the semester began.

Some additional cheat codes regarding class registration: you can view previous semesters on the Registrar’s site to get a sense of what electives are available in the spring, and once you have access to Workday, our course administration site, you can “browse syllabi” from previous semesters to learn more about courses you might take in the future (with the caveat in both cases that it’s subject to change).

Now is also a great time to review the list of faculty in your program and see who shares your interests and chairs your concentration (if applicable for your program). You might consider reaching out during orientation to a professor with whom you aren’t taking a class this fall – that way you can meet them a bit sooner and hear their perspective in addition to that of your adviser and first-semester professors.

I’d also encourage you to view the career center website and get set up on Handshake as soon as it is possible to do so. Fall information sessions with employers will be available to register soon. I’d definitely recommend scheduling a career advising appointment early in the semester and introduce yourself to the staff.

Lastly, once you have access to Workday, you can view jobs for students and apply for an on-campus job. You can also join career-focused Heller groups on Facebook and LinkedIn (there is also a Brandeis graduate student housing group on Facebook).

While you’ll be provided with the info you need by email and once you arrive on campus, spending some time perusing the website and finding information specific to your own interests and goals doesn’t hurt. Good luck as you gear up for the fall semester!

What to Bring to Orientation

August 2, 2022 / amandamiller / 0 Comments

Can you believe it’s already August? It may be hard to believe, but orientation is just around the corner; in less than three weeks, we’ll be welcoming Heller’s incoming class to campus. If you’re one of those incoming students, this post is for you. Heller does a good job of providing for our students during orientation: students will receive a grab-and-go breakfast and lunch both days, a water bottle, and a small tote bag, but take it from me, there are still a few things that you should bring.

1. A face mask. As of right now, Brandeis is still requiring masks at indoor gatherings of over twenty people, and orientation definitely fits that category. We’ll have face masks to hand out to students as they arrive, but if you want to wear your own mask, you should definitely bring it!

2. A portable charger/phone cable. Orientation can be long and you might be on your phone a lot, taking pictures, jotting down notes, or exchanging phone numbers or email addresses. Trust me, having a portable battery will make you the most popular person in the room.

3. Granola bars/small snacks. Heller will be providing breakfast and lunch both days of orientation, and plans to give all incoming students a free water bottle, but as I said above, orientation sessions can be long, and having a small snack on hand may be something you’ll want!

4. A sweater or light jacket. Orientation sessions take place all over the Heller building, and you’ll often find that temperatures of different rooms can really vary! Even though it should still be pretty warm outside, I recommend bringing something light to layer over your clothes if you end up in one of the chillier rooms!

5. Comfortable shoes. I know that we all want to make a first impression, but if there was ever a day to leave your high-heeled shoes at home, orientation is that day! You’ll likely do a fair bit of walking around as you move from room to room, going up and down stairs, and rushing around as you try to find the room you’re supposed to be in, and you’ll want to do it in comfortable shoes.

There you have it! Make sure you have these on you as you head out the door and you’ll be set up for a successful orientation!

Guide to Resources for Incoming International Students

July 5, 2022 / amandamiller / 0 Comments

Heller’s commitment to our international students makes up a core part of our commitment to equity, inclusion and diversity, which recognizes a broad definition of diversity reflective of differences that include, but are not limited to, age, race, ethnicity, language, nationality, visa status, culture, economic status and background, gender and gender expression, sexual orientation and identity, religion, political views, academic background and interests, abilities, learning styles and pace, physical appearance, and individual personality. International students make up more than a third of Heller’s student population, hailing from 39 countries from all over the world. Because of that, we provide several resources to help international students transition to their new academic and personal environment in the near future. Below, I’ve outlined several resources that international students can consult to help make this adjustment go as smoothly as possible.

Brandeis’ International Students and Scholars Office (ISSO)

The ISSO is undoubtedly going to be your biggest resource for all questions related to your visa, maintaining your student status within the U.S., and working during or after your program. Listed below are some pages that you might find especially helpful at this stage:

Pre-Arrival Information

Entering the U.S.

Graduate Student Orientation – included on this page are links to register for virtual events, like F-1/J-1 Immigration Session: Maintaining Status in the U.S. and Accessing Healthcare at Brandeis: What You Need to Know

Brandeis’ Intercultural Center

The Brandeis Intercultural Center serves as the umbrella office for 17 diverse student clubs and organizations, and provides a welcoming space for international students across campus. The center includes a resource room equipped with computers and printers, a small lending library of cultural books and videos, and a diverse array of cultural publications, as well as a conference room, multipurpose room, comfortable lounges, a patio and kitchen facilities, which students can reserve. They also host a number of events each year that are open to all students.

The University Writing Center

The University Writing Center is a place to talk about your writing and to get an extra pair of eyes on your paper. They offer support for writers of all levels in all subjects, pairing students with other graduate students to offer help ranging from understanding the writing assignment and getting started writing to making edits and revisions on your writing.

ESL Support and Professional Writing Support

Students in Heller’s fall semester Professional Writing course have access to tutors who can support them in both professional writing (structure/clarity/use of evidence/strength of argument) as well as ESL related issues such as basic grammar and vocabulary. If you have ESL challenges or concerns, you can meet with Student Services staff who can help you design and implement a plan to improve your written English, sharpen your listening skills and build vocabulary.

Brandeis’ Counseling Center

This is, I think, the most important resource I’ve listed here. In my previous job, I worked with many international students who struggled with the transition to living and learning in the U.S., and it was sometimes very damaging to their mental health. If you aren’t doing well mentally and emotionally, succeeding academically, maintaining your visa status, and accomplishing your goals becomes infinitely more difficult: there’s a saying in the U.S., “You can’t pour from an empty cup”, that really applies to these situations. I would really suggest that you make use of this resources early and often; counselors can help you work through any feelings of homesickness or stress that you may be dealing with to make sure that you are set up to succeed in your program.

I’m Admitted, Now What?: Preparing for your Program

June 2, 2022 / amandamiller / 0 Comments

Students come to Heller from all walks of life: in one Heller classroom, you could find a forty-two year old father of two sitting next to a twenty-five year old who has just returned from her time in the Peace Corps, and sitting next to her could be a thirty-six year old Nigerian doctor who has brought her husband to the United States with her. The funny thing is, is that if you were to talk to each of these imaginary students in the months before their program began, I bet they would all tell you that they feel really unprepared for graduate school. The father of two may be worried about how he’ll balance being a parent and being a student, or worry that he’s been out of school for too long; the twenty-five year old may be concerned that she lacks the life experience of her classmates and doesn’t have the financial stability to be successful in graduate school; the thirty-six year old might fret about different academic standards in a new country or that she’s never taken a statistics class.

All of this is to say that if you’re worried about entering graduate school, you’re definitely not alone. The good news is that at Heller, you have a lot of support to make this transition, and today I’ll be talking about two of our stand-out programs: The Summer Institute and the Summer Career Academy.

The Summer Institute

The Summer Institute is an online platform built by Heller faculty for incoming students to meet, prepare for courses, and share support resources. It’s free to enroll and is available starting June 15th to all incoming students who have accepted their offer of admission, made a deposit, and created a Brandeis email account. Through the Summer Institute, students can take a Professional Writing Course with Heller instructor Evie Sessions, guide themselves through a self-paced learning opportunities tailored to your academic program, meet your future classmates, take an Avoiding Plagiarism refresher tutorial, and get information on DEI initiatives at Heller like the near-peer mentorship program. From quantitative tutorials to learning how to cite something in APA formatting, the Summer Institute will give you the building blocks to get you ready for graduate level coursework.

Summer Career Academy

The Summer Career Academy is 4-week, self-directed, online career preparation program designed to give students the opportunity to jumpstart their career planning and preparation, to access career resources, and to learn more about themselves, resumes, and networking tools among other career essentials. Like the Summer Institute, it is available to all graduate students who have accepted their offer of admission, made their deposit, and created a Brandeis email account. Starting the week of July 25th, students will gain access great lessons on Career Development Center Resources, Self-Assessments, updating your resume, how to effectively network, and how to leverage LinkedIn.

I know the transition to graduate school can be really overwhelming, but taking on a few extra things now can help you build up your confidence and ensure that when fall does come around, you’ll be ready.

I’m Admitted, Now What?: Avoiding Housing Scams (for 2022!)

May 31, 2022 / amandamiller / 0 Comments

I’m following up on my recent post on finding housing while in graduate school with a special post about avoiding scams while looking for housing. According to a recent survey conducted by College Pads, approximately 15% of students encounter a rental scam when looking for housing— unfortunately, it’s much more common than you would think! Although some scams are easily weeded out with just a little bit of investigation, others can be quite convincing, so it’s important to do your homework and keep these tips in mind.

If it’s too good to be true, it probably is. Before you fall in love with a 2,000 square foot studio apartment with sweeping views of the Charles for only $500 a month, ask yourself if the price lines up with the other apartments you’ve viewed. Although there are certainly good deals to be found, Boston real estate is notoriously expensive, and anything significantly less than the average for the area should be treated with caution. With roommates, you should expect to pay between $500 and $800 in rent in the Waltham area, and between $600 and $1,000 in Boston or Cambridge. If you’re looking to live alone, most studios in Boston start at around $1,600. Anything significantly lower than that should be treated with caution. You can check average rental rates on websites like rentbits.com.
Do a grammar check. Once you start communicating with a landlord or realtor, pay special attention to the emails you receive. Poor spelling, incorrect grammar, excessive punctuation, or language that seems overly “robotic” should all be red flags that the listing may not be legitimate. If the signature of the realtor contains a company website, check that out too; company websites should also look legitimate and use correct grammar and punctuation.
Make Google your best friend. Always, always, always, do a search on the person or company you’re dealing with. If a scammer is targeting you, chances are that it’s not the first time they’ve done this, and you can usually find negative reviews and comments online. Remember that people can pay for positive reviews and delete negative comments on their websites, so look for third-party review pages (like Yelp or GoogleReviews) and look past the first few comments. If there are multiple people complaining about their experience with the landlord or real estate company, treat that as a red flag.
Know your rights. In Boston, landlords are not allowed to charge you an application fee, a credit check fee, or a fee to ‘hold’ the apartment. If they ask for any of these, that should be a huge warning sign. Once you sign a lease, you may be asked to pay first, last, and a security deposit on an apartment, but you should only do this once you’ve signed a lease or seen the apartment at the very least. You can find more information about your rights as a renter on the City of Boston’s website.
See the apartment if at all possible. For students coming from across the country, or even internationally, this may not be an option, but if at all possible, try to see the apartment. If you’re not able to visit the apartment, see if one of your roommates or another close friend in the area can visit it on your behalf, and ask them to take a video of their walkthrough of the apartment so you can see it. This is slightly complicated by the current pandemic, but most landlords are now showing apartments; at the very least they can do a video walkthrough for you (ask to see the apartment from the outside to verify the address and ask them to state your name or the date so you can verify they’re not showing you an old or out-dated video).

In addition, here are some tell-tale signs that the person you are speaking with may not be legitimate:

refuses to speak to you on the phone
asks for your social security number or other personal information
says they are out of the country
asks you to pay a deposit before you see the apartment, or
asks you to wire money. Also avoid using PayPal’s “My Cash.” It does not protect you from scams.

Unfortunately, if you have been scammed, it’s often difficult to get your money back, so if possible, pay with a check so your money can be traced and you can cancel the check if something goes wrong. The good news is that if you follow these tips and use good judgement, you’ll be able to weed out the vast majority of rental scams. Happy apartment hunting!

I’m Admitted, Now What?: Housing Part 1 (for 2022!)

May 26, 2022 / amandamiller / 0 Comments

For the latest in the “I’m Admitted, Now What?” series, I’d like to talk about some steps to take after you’ve made your decision and sent in your deposit. Some students may live close enough to Brandeis to commute, but for many, a new graduate program means a new city! I myself moved from Atlanta to Boston for graduate school, and I remember the mixture of excitement and nervousness that comes with taking this next big step. Here are some things that I learned along the way, along with some Brandeis-specific tips, that I hope will help you in your journey:

Location, location, location. Most Heller students choose to live in Waltham, because they prefer to be close to campus; it’s so convenient to be able to walk back to your home in between classes to grab a textbook, have a snack, or (let’s be honest) take a nap. Waltham is a great historic town right along the Charles River, and there are a ton of great restaurants along Moody Street (I love Moody’s Delicatessen for a quick lunch and Sweet Basil for a special-treat dinner). Waltham is also less than half an hour from Boston, so getting into the city is really easy, but rent in Waltham is generally a little more affordable than in Boston or Cambridge.

However, if you are looking to move to Boston or Cambridge because you want the experience of living closer to the city, I would recommend researching the Somerville, Allston/Brighton, or Jamaica Plain neighborhoods. Somerville is popular amongst Brandeis graduate students for its proximity to North Station, where you can board the commuter rail line that will take you right to campus, and the neighborhoods around Porter Square and Davis Square are especially fun, with lots of shopping, restaurants, and cute cafes. Allston and Brighton are common places for students to live in Boston for their great restaurants and nightlife options; for those without a car, it’s easy to take the MBTA to North Station. Jamaica Plain isn’t as good an option for Heller students without a car, but for those that do, this neighborhood is a great mix of students and young professionals and has plenty of great food along Centre Street. Just south of Jamaica Plain you’ll find Roslindale, which is another good option: although it’s a bit further from the city, it’s still only a twenty minute MBTA ride to Downtown Crossing and about a thirty minute drive from campus (it’s where I live myself!).

Mix and match. Unless you’re from the area or are moving with your family, you’ll most likely need to find roommates. There aren’t very many affordable studios or one bedroom apartments in Boston (usually starting around $1,600), so roommates are definitely recommended as a cost-saving measure. The Brandeis Graduate Facebook group has a lot of great information and apartment postings, and many students use it to find roommates. Brandeis also hosts a Grad Housing listserv where you can sign up to get emails about available apartments or students looking for roommates, so I would also recommend subscribing to that. Many Heller students choose to live together; having a built-in support group in your program can be really helpful to students new to the area. Living with other students in your program can lend itself to group study sessions, but having students outside your program can often add a new perspective, so don’t be afraid to mix and match with classmates both inside and outside your program!

Timing is everything. Many apartments in Boston have leases that start on September 1st, but I would recommend looking for leases that start on August 1st or August 15th, so you’re not rushing to set up utilities and get settled in during the first week of classes. Boston housing fills up fast, so I would recommend starting to look as soon as you are able; Brandeis’ Graduate Affairs Office has a great website with a lot of different resources for finding short-term and long-term housing. It can also be very competitive, so if you find a place that you like, be prepared to commit that day: have your documents ready, your checkbook on hand, and a co-signer lined up (if necessary). During the COVID-19 pandemic, most realtors started offering virtual tours, which can make it easier to decide on an apartment even from far away (and an effective tool to weed out scams!). If you’re renting an unfurnished apartment, make sure you’re also budgeting enough time and money to find furniture; there’s an IKEA only thirty minutes away, and a Target less than fifteen minutes from Waltham, but there are also a lot of thrift stores along Moody Street and Main Street where you can dig up a lot of great finds for very low prices. I

I hope these tips are helpful as you start your housing search! I’ll be sharing more housing tips in the coming weeks, so make sure you subscribe by entering your email address in the sidebar to the right.

I’m Admitted, Now What? Student Loans

May 17, 2022 / amandamiller / 0 Comments

Look, I get it. At this point, everyone on the planet who owns a TV, a smartphone, a computer, or has even glanced at a newspaper is aware of the student loan crisis in America. Choosing to either go into debt for the first time, going into debt after having paid off an initial balance, or adding to existing debt can feel like a particularly scary prospect with news stories declaring that student debt has reached a record high.

However, in all of this, it’s important to remember why loans exist: whether it’s a car loan, a home loan, or a student loan, you take out a loan because you are making an investment. With a car or a home, it’s pretty clear what the investment is, but student loans can feel a little more nebulous. I would say that when you take out a loan to pay for graduate school, it is an investment in you and your career. The advantage of that? Unlike a car or a house, once you make that investment, it can’t really be taken away or damaged. Just think: your car could be in an accident the day you leave the dealership, or your house could be flooded the day after you sign, but once you have your graduate degree, it never goes away or lessens in value.

With that being said, the best way to make sure that this is a worthwhile investment is to ask yourself the same questions that you would ask when making any other major investment. Questions like…

What does the return on investment look like? I started to address this above, but I think one major benefit to student loan debt versus other debts is that the value of your investment doesn’t depreciate (like a car) and cannot be damaged (like a house). Regardless, there are other questions that you can ask during your search to ensure that the return on investment is high. What are the job titles of recent graduates like? What percentage of students are employed within six months of graduation?

What is this investment in, and how much is that worth to me? Okay, I know I said above that it’s an investment in you and your career, but to get even more granular, you should consider the entire package of graduate school, even the things that can’t be easily quantified. How much is it worth to you to make connections with faculty, your fellow students, and alumni? Are those connections that you could make otherwise? How much is it worth to you to have access to a dedicated career center for the rest of your professional life? How much is it worth to take some time to pursue a career that you’re deeply passionate in? Considering these things can help you remember the value of the investment you’re making.

What are the terms of the loan? This is a big one, and I really can’t overstate it enough. I will admit that when I went to graduate school, I did not think enough about the actual terms of my loan: I took out the maximum amount and didn’t even consider paying it off while in graduate school. If I could go back, that’s something that I absolutely, 100% would have done differently: take any loan counseling you get through your school seriously, and make sure you understand all the details of your loan including the origination fee, the interest fee, when it begins to accrue interest, and when you have to begin repayment. Plug those numbers into a student loan calculator to see how your situation will change depending on how much you borrow.

I totally get it: student loans are scary (I have them myself!). But at least in the case of federal student loans, student loans aren’t the worst investment you can make, since they come with competitive fixed interest rates and plenty of repayment options. It is a deeply personal decision, however, so take some time and carefully consider how to minimize your debt and to ensure you have a reasonable plan to pay it off.

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