I don't know what to do!

[mommy4ever]

As per my previous post, I'm looking into going to school. Here are a couple of scenarios.

I continue doing childcare independantly, wait until fall to start taking courses, earning will be approx 2100+ a month. At that time can register with an agency, and pray and hope the bursary is still there.($10000 over 2 years). Right now it shows as ending by 2010.

Or register now with agancy and school, my earnings may only be $1800 or less, but have a $350 grant/monthly. Bursary if I get it would pay all my tuition. After next summer monthly grant would go up to $670/mo and after the second year it would be $1100/mo. (on top of my daycare earnings). Now if I didn't get the bursary, I could continue taking the courses, it's through distance so I would be able to register only for what I have cash for($400 at a time as opposed to a full semester tuition). Oh, and at the end of 12 mo there's a $2500 bonus and another $2500 bonus at the 24 mo. In terms of the bursay, the conditions are required is committing 1 year for every year of funding. This is a non issue, I'm in this for the long haul.

What makes more sense??? I'm really stuck. There are a few differences in the ratios being private vs. with an agency. Right now I can have 3 under 2 years but with the agence only 2. the under 1 is my biggest market. so I'd be losing that $700/mo but possibly I could have 2 more with the agency but 2 and 3 yo are hard to find.

I don't know!!! Dh says we should wait until all the bills are paid, but there is the possibility of doing all the courses for FREE. NOW. If I wait, that opportunity might be gone and I'd have the $5000/year to pay out of pocket. BUT, I'm potentially walking away from $700/mo by going with the agency..lol. (reall it's $350) but if they can place a couple older kids with then I actually can earn that $700 and a potential $700 MORE.

I can always delay starting if I don't get the bursary for this fall, and go slow.

I don't know....

What makes more sense???

[VanVivCam]

I would try to take the courses for free...right now!

Free is always good.

Good Luck to you!

[Mom23boys]

I would look at your budget and see what works best for your financial situation. If you can afford to take the classes now, then I would. If not, wait like your DH suggested. I think this is a decision you two need to sit down and decide together while looking over your budget because you will be in school for a while.

[mommy4ever]

School is done via correspondance, no work loss there.

But I was looking at the $$. The bursary isn't necessarily the be all end all.

If I go with the agency, I'll earn less, though there is a grant, it would still be less. (potentially 16000 less). So the benefits of the grants and bursary may be out weighed by the loss of income. It would be beneficial to remain independent, and pay out of pocket for school, I'd still be 11000K ahead!

After mulling and mulling. I've decided to wait a year. I can then join the agency when the little ones in care are turning 2. I think then just about all of our debt is paid off, although I just dreamt dh spent $9000 on a speed boat! But the income loss in a year would be only the cost of any courses I take. If I wait a year, my 3 little ones would all remain with me. Then I could get the bursary for the second year, grants, etc.

Thanks!