I'm in my early 20s, with some minimal student debt (4k), and a rubbish bachelors degree. Despite this, I'm financially stable right now, easily saving 1k/month. Should pay off that debt in a couple months. I have no assets to speak of.
I'm looking at various graduate programs in international relations. The best options would cost me up to 30k in loans (depends on improbable scholarships), but they also have 90% employment rates with average salaries for new grads coming in just shy of 60k. Obviously, if I was going to go into serious debt, I'd be working my ass off to beat that average.
On one hand, debt is bad. I should be avoiding it if at all possible. And its definitely possible.
On the other hand, my current annual savings is something like 10k (last year I wasted it on travel and a few months of language school, but I'm working on it). With a 60k job, I could probably bring that up to 30k/yr and invest it. If I beat the average and got a 70k+ job, I could save more like 40k. A lot of these jobs involve living in developing countries, so saving that much isn't actually particularly difficult (Not sheer optimism- I've been living in China for the last couple years).
So, seeing as it could massively increase my annual savings, is this a circumstance where it is correct to take on debt? Or should I follow my mother's advice and go to a cheap school close to home?
(Edit: Spelling)