Grad School - I'm not sure if this is the right forum

**MTS04** · 08-05-2008, 02:53 AM

Well, I've been entertaining going back to grad school. Why did I put this in the Debt Reduction and Money management forum? Well here's my dilemma.

Since joining this forum, I've been working the debt snowball, paid down 28,000 of debt and got myself in gear. I'm still snowballing 1 debt (ugh!) a heloc or Hel(l) for short. So I have a heloc and my mortgage for debt. Going to grad school would cause me to take out a student loan. I really want to go back to school, but the idea of a loan just saps me of any desire to do so.

The Heloc will be gone in 21 months if all continues to go as planned.

So, i am here for your opinions.

**Greebo** · 08-05-2008, 05:57 AM

What would grad school cost for a year, and how long will you be attending?

**AmyBoz** · 08-05-2008, 06:35 AM

Gotta tell you...getting an advanced degree, beyond a Bachelor's, can open up entirely new worlds for you in the workforce. Add to that the fact that it is incredibly intellectually stimulating and personally rewarding, and I think that higher education is worth it.

I'm currently working on my second Masters in Educational Leadership (the first was in Social Studies Education) and it will lead me to a Principal Certificate. I'll graduate in May 2009. The director of the program just spoke to me a week ago and said that he would very much like to encourage me to join the doctoral program as he thinks I'm the right candidate (they only accept 25 students). That will mean that we'll have to take a loan because my district only reimburses us for a small amount of classwork and it's a 2-3 year program. However, to me, it's worth it.

I think that anything that helps strengthen your knowledge base, your skill level, personally challenges you and could possibly help you in your career will pay for itself in the end. As long as it isn't actually taking food out of children's mouths, I say go for it.

Just my two cents.

**MTS04** · 08-05-2008, 07:13 AM

Originally Posted by Greebo

What would grad school cost for a year, and how long will you be attending?

Grad school will cost at least 10,000 per year and I'm looking at 3 to 4 years (depending on the degree)

I've got to retake the GRE since the last time I took it was well over 8 years ago. I'll be maintaining full time employment while attending. At least until I would start clinical time. Then I would have to re-evaluate my employment. (ugh)

Thank you AmyBoz. You've really helped me begin to start deciding. You're right, advanced degrees do open up the world, which is why I am trying to figure this out. I'm sick of being stuck in this dead end job, which I am fortunate to have.

**Greebo** · 08-05-2008, 07:41 AM

You joined 2 years ago. You've snowballed 28,000 in debt. Therefore, my math tells me you can afford up to $15,000 a year while working full time. Correct me if I'm wrong.

Stop the snowball. Save up the money for Grad School. Go debt free. Resume the snowball after you finish.

My $0.02.

**MTS04** · 08-05-2008, 10:28 AM

I think the saving for grad school will go a bit slower, since our snowball also included the sale of my motorcycle and an antique desk. Also, I've been working 64 hours a week on average and I'll have to cut back to 40 once classes start . So I think I just have to look a little closer and see. But I think we can swing it for a couple of years.
(It's still scary tho...)