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I am considering going back to college for a full time program, but it would require quitting my job or at least scaling back quite a bit for the program I want to enter.
Has anybody on here done this? If so, how did you make it work? I have car payments, a mortgage, etc. It frightens me to think about trying to pay all my debts while I'm back in college with limited hours but it's something that I feel I really need to do personally and professionally. Getting a low-paying night job wouldn't be out of the question, but I can't count on it in a small town like this as any job is in high demand.
Can anybody provide advice or stories on how you did it or how it worked out?
I am considering going back to college for a full time program, but it would require quitting my job or at least scaling back quite a bit for the program I want to enter.
Has anybody on here done this? If so, how did you make it work? I have car payments, a mortgage, etc. It frightens me to think about trying to pay all my debts while I'm back in college with limited hours but it's something that I feel I really need to do personally and professionally. Getting a low-paying night job wouldn't be out of the question, but I can't count on it in a small town like this as any job is in high demand.
Can anybody provide advice or stories on how you did it or how it worked out?
Thanks a bunch everybody
I did it to get through my grad program.
I was getting unemployment and living with my parents part of the time and on my own the other half. I also was a TA for a semester so that paid for one semester of school.
All in all, I came out with under 5 grand of debt.
If you have a lot of payments, it will be tough, maybe impossible to do a daytime program. You may need to sell your house or rent it out.
I am considering going back to college for a full time program, but it would require quitting my job or at least scaling back quite a bit for the program I want to enter.
Has anybody on here done this? If so, how did you make it work? I have car payments, a mortgage, etc. It frightens me to think about trying to pay all my debts while I'm back in college with limited hours but it's something that I feel I really need to do personally and professionally. Getting a low-paying night job wouldn't be out of the question, but I can't count on it in a small town like this as any job is in high demand.
Can anybody provide advice or stories on how you did it or how it worked out?
Thanks a bunch everybody
When I went back to school, I went back to the restaurant biz. That allowed me the flexibility to create a work schedule around the courses that I needed, and wanted, to take. It also allowed me to save on food since I ate at work quite often and/or took meals home. To add, I worked full time while going to school full time, which put me in a situation where I had little free time. Hence, I wasn't spending much money. I also got rid of my car and rode a bus to school or biked. Even though my car was paid in full, I saved around $500 a month by not paying for insurance, gas, maintenance, etc. That really helped. I understand that most people could not conceive their lives without a car, but it is not that terrible of an experience. If you must have a vehicle, sell your current car, have someone take over the payments, and get a beater of sorts with good gas mileage and a lower insurance rate.
There were other changes, too, but those are not worth mentioning here. I can say, though, that in order to make it happen you will need to streamline your life, habits, etc. Get rid of cable television, for example. Drop your gym membership, if you have one, and use the gym at school, etc., etc..
It's amazing to realize how little we actually need in order to live a comfortable life. And unless you have access to a trust fund, cutting out everything that is [literally] non-essential to remain a living human being must be cut out. Without making sacrifices, you will struggle financially and drop out of school or find your self getting further and further behind in your bills.
In 2001 I had a decent 60K/year analytical chemist job, but I quit it to go back to get my PhD. With a PhD, I had to postdoc at 50K/year for two years before I got the academic job that I wanted. I would do it over again without hesitation.
In the current job market, I probably would hesitate before quitting a steady job.
I am considering going back to college for a full time program, but it would require quitting my job or at least scaling back quite a bit for the program I want to enter.
Has anybody on here done this? If so, how did you make it work? I have car payments, a mortgage, etc. It frightens me to think about trying to pay all my debts while I'm back in college with limited hours but it's something that I feel I really need to do personally and professionally. Getting a low-paying night job wouldn't be out of the question, but I can't count on it in a small town like this as any job is in high demand.
Can anybody provide advice or stories on how you did it or how it worked out?
Thanks a bunch everybody
In our economic situation now, no, I wouldn't quit my job to go back to school.
There is no guarantee that you will get your job back or get another one with similar pay once you get your degree.
If you have a family plus all the bills, having no job nor any income would be tough.
If you can go to school in a non-traditional route (night classes or online), consider that option.
I'd like to thank everybody who gave advice and stories of their own situation.
I don't have a family, it is just myself and fiance but she would keep her job and I would have to leave mine or at least heavily cut back on hours. We could also do with one less car and a few less amenities. It seems like many of you have done it so there is hope, but it still seems to be an "iffy" situation.
I will look over everything and see how much I can cut back to really know if I can get through this.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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I got PAID to quit my job, THEN PAID to go back to School. THAT was GREAT!!! (even @ post age 50).
Personally in your situation, I would do some serious number crunching on cost / benefit. I got 3 of my 4 degrees while working full time (and much more... 3 PT jobs + farming+ Caregiving).
If you are going to get a substantial degree (Rocket Science / SURE job over $100k) then I MIGHT consider quitting (After my (solo) finances were adequate (MINE... not mine + GF). There is no way I would rely on ANYONE (GF, Parent, rich uncle, spouse, child...) to feather my bed while I was going to school to get a 'what if' degree).
Run the numbers and consider the costs (as well as lost opportunity... job now and later)
Not knowing your career field / opportunities it is quite tough to make 'informed' advice.
Good luck. (FWIW... career / wage income played little role in my lifelong accumulated 'wealth / earnings'. It is my opinion that wage income will be minimally effective as a strategy of wealth building moving forward in US economy. JMHO)
I received grants that paid for tuition. My mother helped me cover my living expenses which is only rent and food. I'm in my last year and my grandmother is sending me $ from overseas to finish my degree.
I never asked for help, but my family really wants me to graduate from the school I'm in instead of where I was before so they have made sacrifices for me. I must admit, I'm very lucky to have a family like this.
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