Should I continue with school?

[MisUnderstood1]

I'm 29, $60,000 in student loan, $6,000 credit card debt. I'm back in sch to get a second degree with the hopes of getting into a 1-yr masters program to pursue a dream of mine. I'm doing it at the same sch where I did my first degree and was given transfer credits. My second degree will take less time to finish; after this summer semester I've 2 semesters left. It was very difficult to get a job after my first BA and I did a general degree then, not honours (what I'm now trying to do). I made an 84% average last semester and like my program but considering all my debts I wonder if it's going to be worth it in the end. I'll be about 33 when I am done with lots of debt. I'm single snd considering my debts I might never find anyone who wants to settle down with me. I badly want to get married and have a child. This semester just started in May and I'm getting more worried about my debts and my future. Most of my peers from high school are married with kids while I'm still lagging behind in sch. I've applied for some jobs thinking if I find one, then I might do that instead but no luck yet. I've gotten into a 2-semester graduate certificate program starting in September -based on my first degree, that should boost my chances of getting a job next year. This particular program isn't what I want to do with my life, at the same time I know it'll help me get a good job and move on with life quicker. It's either I continue with this second degree I'm doing so I can get into grad school, or do the graduate certificate program instead. Which should I do? What would you do if you were in my shoes?

[d0nnivain]

I'd stop wracking up debt. Can you go through a cheaper program? Can you get a job & get your employer to pay for the masters?

[mccluskeyj17]

You have to count the cost. I understand your dilemma because I recently graduated with my masters and have student loan debt. What is the occupational outlook for the field you are majoring in? Like you I had started to get a second degree but then had a family crisis so I did not pass that semester. I ended up changing schools and programs and got my masters instead of a second degree. If you are concerned about your future and debt you may want to pursue the graduate certificate program.

 

It is not good to compare where you are in life to others because everyone's purpose in life is different. When you measure yourself against others it can cause you to become jealous or to feel like a failure. The very people you are comparing yourself to may wish they were single and able to pursue a degree. Just because the grass looks greener on the other side does not mean it is.

 

I would definitely get rid of the credit cards especially because of the interest rates. Debt will not keep you from getting married but it can make marriage harder. But when you meet that person be honest about your debt. Try to stay in today not worrying about tomorrow, tomorrow has it's own troubles.

[clia]

I'm 29, $60,000 in student loan, $6,000 credit card debt. I'm back in sch to get a second degree with the hopes of getting into a 1-yr masters program to pursue a dream of mine. I'm doing it at the same sch where I did my first degree and was given transfer credits. My second degree will take less time to finish; after this summer semester I've 2 semesters left. It was very difficult to get a job after my first BA and I did a general degree then, not honours (what I'm now trying to do). I made an 84% average last semester and like my program but considering all my debts I wonder if it's going to be worth it in the end. I'll be about 33 when I am done with lots of debt. I'm single snd considering my debts I might never find anyone who wants to settle down with me. I badly want to get married and have a child. This semester just started in May and I'm getting more worried about my debts and my future. Most of my peers from high school are married with kids while I'm still lagging behind in sch. I've applied for some jobs thinking if I find one, then I might do that instead but no luck yet. I've gotten into a 2-semester graduate certificate program starting in September -based on my first degree, that should boost my chances of getting a job next year. This particular program isn't what I want to do with my life, at the same time I know it'll help me get a good job and move on with life quicker. It's either I continue with this second degree I'm doing so I can get into grad school, or do the graduate certificate program instead. Which should I do? What would you do if you were in my shoes?

 

How is the job market in that field? What are your prospects to get a job in the new field when you are done? Is it a highly competitive field? Is 84% average enough to get a high paying job? What is a realistic starting salary? All of this is very important. If it is a highly competitive field where people aren't finding jobs quickly and where your likely starting salary is $30-40k a year, I would be extremely hesitant to continue racking up that kind of debt. If, on the other hand, it is a field that is highly in demand, where graduates are finding jobs fairly quickly that start out with higher pay and a lot of potential to increase that pay, that's a different story.

[preraph]

Take at least a small part-time job, even if it's selling clothes at The Gap on weekends, just to offset some of the debt. Don't take unpaid internships. What a scam those are. Paid internships, yes, in your field only.

 

It would be good to get your master's and any master's will do. It's totally unrealistic and unfair, but last time I looked for even small secretarial type jobs, they didn't even take applicants without a degree -- and the better jobs want a master's even if it's not in that field or from a big university. So I like the one-year masters but if you can stand it, work a little too.

[MisUnderstood1]

I'm paying off my credit card with the little part time job I have but the interests are quite high, about $100, which's about the amount I pay per month for the card. After I make my monthly payment they slap the almost $100 interests on the balance, so at the end of the day it's like I'm not paying anything. I was told the interests would decrease after next month but even then it really would be better for me to pay off the card in chunks or at once, but of course I can't afford to do either right now.

 

As for my student loan debt, by the time I finish this program next year in May my student loans will be about $75,000 total. I'm getting loans for this semester and I would also have to apply for loans for the remaining 2 semesters. My total loans would be about $75,000. The field is quite competitive but at the same time there're jobs in it. I look up job ads often and I always see lots of them being posted. The starting salary is about $50,000.

 

If I do the graduate certificate my student loans would be about $67,000 in total. With this gc I can get a job as a technical writer. Idk if I should just do this, get a job as a tech writer and have less student loans (though $67,000 is still whole lot, gosh, then there's my credit card debt, sigh) and work towards paying them off asap (at least pay off my credit card first) OR continue what I'm already doing, finish at 33 with even more debt on my neck by then and just hope for the best (aka. that I get a job soon after that). I'm highly bothered by my debts. It's either I give up something I really want to do though it comes with a bigger price, for something that's not really what I want to do but will do okay in and will help me move on with life faster.

Edited May 7, 2017 by MisUnderstood1