Hope this message finds you well. I am currently a student at a solid university studying finance and economics. I am on track to obtain an investment banking internship and get a full time offer north of $150k in full compensation. This is a realistic situation based on my circumstances and I am reaching out asking for advice on what you would do as I follow your personal finance advice closely.
To achieve my circumstances, my family and I are depending nearly entirely on student loans. I have a scholarship, but it doesn't amount to much in the grand scheme of things ($28k). The student loan will ultimately be around $150k - $200k on the high end. However, this was done intentionally as I knew I could achieve a high paying career like IB.
I am reaching out as I am wondering what you would do if you were in my situation. Imagine you received your software engineering role but were in $200k of student loans. How would you navigate paying this off? Would you prioritize investing with your income level in any manner?
In IB and private equity consequently, the compensation increases dramatically, with $500k being a conservative estimate to make a year by 28 years old. Therefore, I am curious as to if you would pay off the debt as soon as possible or invest the income and then worry about paying off the debt when my income increases significantly.
Really hope to hear back from you as I'm a fan of your content.