And rounds of funding can take months to close, so it is more like $5K for 7 months, not 3.
Sure -- I'm a bit skeptical about the YC model of providing funding for only 3 months, too. My point was more that for someone accustomed to an undergrad or grad budget (which is probably most people here), $20k for a year is far more reasonable than $50k.
$20k? Just after my student loans, that leaves me only $6000 for the year to divide up for food, rent, health related, transportation... Even if I move back to Eastern Europe, there's no way.
Interesting. I had brought up the issue of student debt as being one significant impediment to startups happening at the pace that pg had predicted they would.
Some student loan programs have minimum payments enforced after the interest-free period, similar to some credit card payments. So, I would not assume that the payment is entirely interest.
Actually, it's "only" a little over $100k from 4 years of school. The problem is that it's become a b*tch to get loans under 10% without a co-signer. I couldn't...
Sure -- I'm a bit skeptical about the YC model of providing funding for only 3 months, too. My point was more that for someone accustomed to an undergrad or grad budget (which is probably most people here), $20k for a year is far more reasonable than $50k.