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Does the $ stop you or would it stop you from pursuing degrees?

I could be almost 100k in debt by the time I finish my education. It's making me wonder if I should stop while I am at 50k. I'm so confused :(

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Anonymous

Asked by Anonymous at 10:56 PM on May. 16, 2011 in Money & Work

Answers (14)
  • STAY AWAY FROM DEBT!!!
    SAHMinIL2

    Answer by SAHMinIL2 at 10:59 PM on May. 16, 2011

  • Yup,it sure does. I have been wanting to get a degree for years but the thought of amounting that kind of debt scares me. Plus I'm trying to get my finances in order to so I can get a house...I would rather have a 100K house than a 100K degree.
    GomezMami2908

    Answer by GomezMami2908 at 11:00 PM on May. 16, 2011

  • ummm, it would depend on the degree, a good rule of thumb is to stay under your anticipated first year salary. So if you're planning on being a doctor or a lawyer, then yes 100k is reasonable because that's alot of post grad schooling as well. But if your degree was in English, I wouldn't go past 25-30k. Just curious but how are you getting so in debt? I mean tuition isn't that expensive and if it is there's usually a significant financial aid package that the school is able to offer, are there any other/cheaper schools you can go to? or scholarships you can apply for?
    gypsymama532

    Answer by gypsymama532 at 11:03 PM on May. 16, 2011

  • No because I'm paying of my student loans a little bit each month. Plus, I have 6 months to pay off anything after graduation. By that time I will already be making a decent salary working in the Criminal Justice field.
    proudmom2510

    Answer by proudmom2510 at 11:03 PM on May. 16, 2011

  • Going for MA possibly Phd through private schools
    Anonymous

    Comment by Anonymous (original poster) at 11:13 PM on May. 16, 2011

  • Nope nothing is stopping me son! I start grad school in oh....like 14 hours!
    OneToughMami

    Answer by OneToughMami at 1:15 AM on May. 17, 2011

  • Absolutely! I can't believe how many people are so willing to go thousand and thousands of dollars into debt, without fully researching job pay and availability. Then you have people on here saying "A BS isn't worth shit because I can't get a job" Yeah, no kidding. Education is an investment, be sure to invest wisely. And it is always better to invest your own money instead of someone else's.

    Candi1024

    Answer by Candi1024 at 9:36 AM on May. 17, 2011

  • I could use my GI Bill. However, I am deathly afraid of math and think I would have to rewire my brain to 8th grade math to understand high school algebra! It's not money. It's algebra stopping me from pursuing education. And time. I don't seem to have enough of that.
    Izsarejman

    Answer by Izsarejman at 10:04 AM on May. 17, 2011

  • No we make little money, but I am in school with no financial aid and no debt. Just a prioritizing our money.
    vjoaquin

    Answer by vjoaquin at 5:58 PM on May. 17, 2011

  • I think that you should consider if your career choice is going to allow you to pay the student loans. Even the monthly obligation may be more than you can handle. If the answer is no then I would consider switching to a public university. Private schools are not necessarily better....check the statistics.
    HollyBoBolly

    Answer by HollyBoBolly at 6:07 PM on May. 17, 2011

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