One wonders how long you will be able to live like this. Will they really lend you $60,000 when you can’t pay your credit card bill. If you have time for the MBA, it seems you could have picked up a side job to balance the budget. You might have to do that to pay off the credit card before you apply for the student loan.
I did not go to graduate school because I was tired of being poor. I lived inexpensively for a few years to build a bank account and did not contribute to my 401K until I have enough after tax savings to buy some things I wanted and to have some discretionary money. 5 years of sacrifice meant that I could transition to a life that seemed like luxury and make 401K contributions.
If you gave up the Latte’s for a while you could maybe have two Latte’s a day for the rest of your life. It seems like having Latte’s today is leading to decades of no Latte’s in your future but then maybe you will be hit by a bus tomorrow. You any good a statistics, check the odds.
How much do you tip the barista? Do you stiff them like you did your credit card company (which is really the rest of us since that costs of defaults are born by those who pay their bills)?
Living for today is often used as an excuse to be irresponsible and a leach. When you die someone else is probably going to have to pay for your cremation.