Am I crazy-How can I make it work?

LegacyUser

Ok here goes I am 30 years old and have finally discovered what I am really interested in so much so in fact that I am considering going back to college in dublin to study for a degree in this field for 4 years.I will actually be 31 when I start so just have turned 35 when I finish.

I am currently in a job that pays 30k a year gross for that while not a bad job I dont love it and I dont ever feel I will be promoted in it I actually have a ordinary degree in this field

Now you may think that my age is the thing thats concerning me it is a little but not my biggest concern obviously I will have to quit my job to do this degree but my biggest stumbling block is that I owe the bank 16k overall in combination of loans credit card and overdraft etc and I have no savings

My biggest repayment of 13k has to be paid back within 5 years so im paying about 330 a month towards this

Obviously I will have to work parttime to support myself through college and I am prepared to do so

So folks what are your thoughts am I kidding myself?

Otis Driftwood

Just go to your bank and have a chat with them,tell them what you are thinking and see can they re-structure your loan or possibly defer it,but with things the way they are that could be a bit tough.Or would it be possible to do the desired course at night or part-time,that way you dont have to leave your current job or may be able to get a job to fit around your study time.Oh,and cut up your credit cards.

Dizzyblonde

No I don't think you're kidding yourself you owe it to yourself to at least give it a go. The 4 years will fly past and you'll have your degree. My husband qualified as an accountant in his early 40s and it's the best thing he ever did.
As Ned said, talk to the bank and see what they can do for you.
Good luck.

JessicaFletcher

Go for it, you only live once and you will regret this for the rest of your life if you dont. Just imagine the job you are in now, can you do that for another 30 years....prob not so why not go now while you can and do something that you love and have found an interest in.

I know its easy to say but dont let money stop you, you will figure it out and it will be well worth it.

As my friends mother always says "whats meant for you wont pass you"

Good luck

helimachoptor

OP can you do a masters or postgrad instead of doing a 4 year honours degree?

cantdecide

Definitely go for it. There isn't a reason in the world why not.

It might be worth considering giving yourself another year to put the maximum dent in your loans. It'll will be a much better prospect if you had 10 or less owing. What's the difference between qualifying at 35 or 36 and it could have a big impact on the quality of your life in the next few years, i think.

Having said that, I have a mate who's jetting off to Nepal today to do a photography internship with more debt than you have and little chance of making any meaningful amount of money:rolleyes:

skooterblue

Wake up and smell the coffee!
Is your job stable? its paying 30k? we are facing into the biggest recession since the 1930's!

Get a grip on yourself. Hold on to what you have. This attitude that its crap and I can do what ever I want would wash 5 years ago but not today. The bank will tightening up on that finance.

This is life for the next few years its going to be living hand to mouth. How about you go think about how lucky you are rather than how greener the fields are on the other side. As for the lady who's husband qualified as an accountant in better times, ask him if he would take the risk in TODAY'S envoirnment.

Think about how you are going to finance it and what is going to be there to meet you when you come out. Maybe your nine to five doesnt seem that bad. Dont worry about not getting promoted, everything is getting downsized.

the glass woman

Definitly go for it.

I'm 30 next month, and having spent 4 yrs getting a very good degree in one field which i worked in for a few yrs, i got married, had a baby, and when my baby was 11months old and i was due back from maternity leave i handed in my notice and enroled in a college course that oct.

I'm 4 months into it and absolutely loving it, now mine is an intensive 3 yrs course squeezed into 1 year of part time hours which is my only option as my son is 18mts old, i know yours is full time for 4 yrs but you're still young, you don't mention any dependants etc so you could easily fit in a part time job if the bank couldn't give you a student loan.

You'll be amazed at how easily you'll fit back into study mode, even with my baby brain i've gotten distinctions in every exam/project so far..

The best of luck with it, it'll be so worthwhile when you're working at something you love

the glass woman

skooterblue wrote: »

Wake up and smell the coffee!
Is your job stable? its paying 30k? we are facing into the biggest recession since the 1930's!

Get a grip on yourself. Hold on to what you have. This attitude that its crap and I can do what ever I want would wash 5 years ago but not today. The bank will tightening up on that finance.

This is life for the next few years its going to be living hand to mouth. How about you go think about how lucky you are rather than how greener the fields are on the other side. As for the lady who's husband qualified as an accountant in better times, ask him if he would take the risk in TODAY'S envoirnment.

Think about how you are going to finance it and what is going to be there to meet you when you come out. Maybe your nine to five doesnt seem that bad. Dont worry about not getting promoted, everything is getting downsized.

While I understand what you're saying, the OP doesn't mention whether
s/he has things like a mortgage, spouse, or children etc, I'm assuming as they weren't in the original post that s/he doesn't. if that's the case then why shouldn't the OP go back to college while working part time?

I handed in my notice only last july, i'm sure people thought i was mad too since i've a mortgage and a child, but the fact was my husband is earning a decent wage and we don't have an extravagant lifestyle, and were prepared to make some cut backs and sacrifices.

skooterblue

the glass woman wrote: »

While I understand what you're saying, the OP doesn't mention whether
s/he has things like a mortgage, spouse, or children etc, I'm assuming as they weren't in the original post that s/he doesn't. if that's the case then why shouldn't the OP go back to college while working part time?

I handed in my notice only last july, i'm sure people thought i was mad too since i've a mortgage and a child, but the fact was my husband is earning a decent wage and we don't have an extravagant lifestyle, and were prepared to make some cut backs and sacrifices.

The OP has NO savings, owes half his salary, will have to leave his job, scale down his current living standards. The OP is only considering this now its not likehe has been preparing finacially for this. The OP must think money is printed on tree's if he thinks he going to get parttime job and finance for the bank.

If the OP had savings, had done some sort of exploration into the course and thought it through properly and was nt on the brink of a recession, I would fully endorse the OP to persue the career change. But it isnt so it aint!

The Likely outcome is IF he gets finance, and IF he gets the bank to hold off on the credit card payments, and IF he can sacrifice these luxuries and IF he can retrain for this new qualification ....... who will be there to employ him at the end of the three years?

A bird in the hand is worth two in the bush!!

CDfm

the glass woman wrote: »

Definitly go for it.

I'm 30 next month, and having spent 4 yrs getting a very good degree in one field which i worked in for a few yrs, i got married, had a baby, and when my baby was 11months old and i was due back from maternity leave i handed in my notice and enroled in a college course that oct.

I'm 4 months into it and absolutely loving it, now mine is an intensive 3 yrs course squeezed into 1 year of part time hours which is my only option as my son is 18mts old, i know yours is full time for 4 yrs but you're still young, you don't mention any dependants etc so you could easily fit in a part time job if the bank couldn't give you a student loan.

You'll be amazed at how easily you'll fit back into study mode, even with my baby brain i've gotten distinctions in every exam/project so far..

The best of luck with it, it'll be so worthwhile when you're working at something you love

Great for some - just wiz back to college for the crack.

LegacyUser

Op here

Skooterblue let me ask you

What do you do for a living and how much do you like it?

To answer order peoples query

No I dont have a mortgage

I dont have children or am I married

A postgrad or doing it by night is not available

wolfpawnat

My OH has gone back to do another degree, he qualified in Arts a few years ago and worked as an archaeologist for a while, but now he's gone back to do medicine. I am due our baby tomorrow and I don't have a job, we are renting and have no savings, and he had to take out loans as each year costs him €10,000 in fees. Why is he gone back you may ask, because in an economic downturn you have to do what will help you in the long run.

Doing a job because its a job for another 30 something years doesn't seem right to me! It'd feel more like a prison sentence than a job then!

skooterblue - there is more to life than a mortgage. And can he guarantee his job in the company he is in at present!?! Perhaps a forced redundancy may occur. Safest place to be at the moment is a college! If I owned a house and its repayments were between me and my dream job, bye bye housey!

OP do what feels right in your head and gut. If you think you can manage it talk to your bank and see what they say:) If you think you can cut ut the luxuries and cut up the credit cards do it!

Good luck:)

CDfm

I have kids - wow -the luxury to do all those things.

It would make me feel like a kid again myself:pac:

syklops

skooterblue wrote: »

Wake up and smell the coffee!
Is your job stable? its paying 30k? we are facing into the biggest recession since the 1930's!

Get a grip on yourself. Hold on to what you have. This attitude that its crap and I can do what ever I want would wash 5 years ago but not today. The bank will tightening up on that finance.

This is life for the next few years its going to be living hand to mouth. How about you go think about how lucky you are rather than how greener the fields are on the other side. As for the lady who's husband qualified as an accountant in better times, ask him if he would take the risk in TODAY'S envoirnment.

Think about how you are going to finance it and what is going to be there to meet you when you come out. Maybe your nine to five doesnt seem that bad. Dont worry about not getting promoted, everything is getting downsized.

Usually I would be the first to say education is very important, and you should do it, but I have to kind of agree here to an extent with skooterblue. Can you give us an idea of what the course is? Would it help you get a better job once you finsh it?

A friend of mine and his wife are saving for a house. His wife came home from work one day and said she wanted to go back to college. He gave her all the support she wanted but was a bit miffed when he found out she wanted to do a degree in Anthropology. There is nothing wrong with the subject, but his point of view was, a few more years of working, they will be able to get a decent but cheap house, and she can then fill it with as many books on the subject as she wants. However, if she gives up her job, the house remains a dream for a while yet, and when she finishes, her chances for a job are not fantastic. They are not exactly calling out for people in that area.

I dont want to dishearten your idea, and while I hate the phrase as much as the next person, in the current economic climate, giving up your job is not a very smart thing to do. I know you can say "I can get a part time job to cover my costs", but I suggest you try looking for a part time job now so you can see it is actually quite a difficult task.

As for your debts, how will you deal with them when your working part time?

You sound like you have been to college before, and your maybe thinking back to the days when you lived on nothing and had a ball, but when your 18 your standards for most things are much lower than when your 30. When your 18 the prospect of Drinking flat beer that was cheap and living on potato crokets, and beans on toast, is just a laugh. But now it will be alot more difficult, meanwhile your debt hangs over your head.

Sorry for not being supportive, but I think now is not a good time to do it.

MagicMarker

Sorry to be a realist, but you should first look into your finances. If you think you're capable of working part time and still manage to pay off your debts plus pay your rent/bills etc then by all means go for it.

It's all well and good going after your ''dreams'' but it's pretty stupid to do it when it's not financially viable.

As for Wolfpawnat - no offence, but taking out 10k a year on loans while you're about to have a baby, with no job as well as no savings is just plain dumb and if I dare say it, completely irresponsible, even more so because he already has a degree.

wolfpawnat

Sadly since his degree is in Archaeology and that completely depended on the construction industry that degree is worth sweet F all! Medicine is a degree worth the money put in.

What else can we do, I rather he'd be a student in a great course than an unemployed archaeologist on the dole. I am taking time out from college to have the baby and I have not been weighed down by his loans so I don't have to worry about it.

You have to play the cards you are dealt I'm afraid.

skooterblue

Unregistered wrote: »

Op here

Skooterblue let me ask you

What do you do for a living and how much do you like it?

I work for a large Electronics component assembler. The company is doing the best its ever been for years with 1 billion profit last quarter. The Tele services end is flying but the small manufacturing end is bringing in finished goods from China, packing them and labeling them as manufactured in the EU (its all Legal and above board). I am about the same age as you. I am on an 11 month contract on and off for the last 7 years with no hope of permancy. I am back to do a specialist Degree in Engineering. I make about 22k a year.

Do I like it? I have a good supervisor, I make eneough for now, and a bit to save. I get on with most of my work mates (I work with a few right screw balls). There is a big line waiting for my job and I work nice shifts. My work is boring but I dont mind, because I have fun with work mates. The comany has been downsiding over the last 5 years in this area. Three years ago We were harrassed to do an extra days overtime (I work 3 x 12 hour days) on top of the days over time I had agreed to do. Now no overtime again.

The difference between the two of us is : I have no propper job as my contract end in october, for 6 months and you have a permanent job. I earn a lot less than you do but I have no debts. you earn 30k and owe half your salary.

You are poised in the right position to rideout this downturn and I am going to struggle through it. That is from where you are at the moment, where you will be in 6 months time will be teethering over the edge of an abyss. Dont fool yourself, there is no partttime job. And if there is do you think you will make nearly eneough? you have a good hand dont throw it away!!

LegacyUser

I am student at the moment and I can tell you, making enough money to get by whilst studying full time is very difficult and I don't even have any debts like you do. Being a student can be VERY expensive.

I am all for people going for what they want in life even if that does involve a certain amount of risk, I wouldn't be doing this course at all if I didn't. But in your case I just can't see how you are going to make enough money to pay rent/bills, pay for books and course materials and service all of that debt. Part time jobs are hard to come by at the minute, I was lucky I was allowed to go part time in my existing job and virtually choose my hours around when I had to be at uni, mybe you could run this idea by your own employer but other then this I just think it's going to be impossible for you.

Maybe look at doing the course part time or as an evening class.

the glass woman

CDfm wrote: »

Great for some - just wiz back to college for the crack.

Excuse me, I chose to go back to college and re-train in a different area because my original career was in media and the hours were not feasible when i started a family. It was certainly not 'for the crack'.

Looking after a toddler all day, along with running a house, and trying to squeeze in an hours study while he's asleep is not what i'd call 'crack'.

Neither is sitting in a class room until 10 at night after effectively working all day at home.

Giving up my saturdays to sit in a freezing cold classroom is also not what i'd define as 'crack'.

Halving my family's income and having to do without is no fun either.

But in the end it will be worth it when i'm working mornings, teaching, and get to spend every afternoon and evening with my son and any more children i may have.

Lollipops23

OP,while i think anyone who wants to return to learning should go for it, i would remind you how hard it is. I'm in final yr now, with 25 hrs of classes a week and another 20hrs doing assignments/reading/studying. I also work weekends to make ends meet. Luckily Im still living at home with my mammy makign me dinner:D but the late night studying/trying to bash out 2 assignments a week/missing out on a summer because i've to write my thesis isn't fun.Just remember college isn't all fascinating lectures and massive sessions!

skooterblue

Lollipops23 wrote: »

OP,while i think anyone who wants to return to learning should go for it, i would remind you how hard it is. I'm in final yr now, with 25 hrs of classes a week and another 20hrs doing assignments/reading/studying. I also work weekends to make ends meet. Luckily Im still living at home with my mammy makign me dinner:D but the late night studying/trying to bash out 2 assignments a week/missing out on a summer because i've to write my thesis isn't fun.Just remember college isn't all fascinating lectures and massive sessions!

In all fairness lollipops, a few things:
You have no tuition fees. They will be back next year.
You are living at home and saving on rent and services. Rent in Dublin is expensive.
You have a parttime job that may not be nessarily available next year.
The OP is over 30 and it becomes harder to learn over 26, not to mention keep up with 20 year old students.

OP are you really prepared for all this?
You might be better going back to doing professional course or try finish your honours degree at night. If you are doing Computers try doing your Cisco exams. Doing a completely new degree by night is also pointless expensive and costly in terms of time and effort.

Lollipops23

skooterblue wrote: »

In all fairness lollipops, a few things:
You have no tuition fees. They will be back next year.
.

you don't know that for sure. i was merely pointing out how much hard graft is involved in college; i spend monday-fri at classes, saturdays doing assignments and sunday in work. mid-terms are split between work and assigments.so i have no time to myself at all. i have to schedule time for a shower!Just so the OP doesn't see college as an "easy" option.

skooterblue

Lollipops23 wrote: »

you don't know that for sure. i was merely pointing out how much hard graft is involved in college; i spend monday-fri at classes, saturdays doing assignments and sunday in work. mid-terms are split between work and assigments.so i have no time to myself at all. i have to schedule time for a shower!Just so the OP doesn't see college as an "easy" option.

I agree with you at the best of times with full support its a hard graft at college. If you cant see that full fees are comming back next year you are seriously out of touch with what is happening in the real world. The Universitity are massively in debt, the IT's have poor souces of Income and have been run inefficently over the past few years.

Fee's are on their way back with extra hidden taxes l garuntee it. you will be lucky eneought to have pasted throught the system in time.

Lollipops23

except for DCU!don't get me wrong,i've protested against their return,i just think it'll be more than a year before they're back.

CDfm

the glass woman wrote: »

Excuse me, I chose to go back to college and re-train in a different area because my original career was in media and the hours were not feasible when i started a family. It was certainly not 'for the crack'.

Looking after a toddler all day, along with running a house, and trying to squeeze in an hours study while he's asleep is not what i'd call 'crack'.

Neither is sitting in a class room until 10 at night after effectively working all day at home.

Giving up my saturdays to sit in a freezing cold classroom is also not what i'd define as 'crack'.

Halving my family's income and having to do without is no fun either.

But in the end it will be worth it when i'm working mornings, teaching, and get to spend every afternoon and evening with my son and any more children i may have.

Sorry if I offended you but your situation is very different to the OPs and your post did make it sound as a very frivolous and flippant decision to give up a job and go to college.I am not very PC on this stuff.

IN the current economic climate the OPs decision is a v v serious one.

Even if it all goes wrong you have a husband and your other career to fall back on. THe OP doesnt.

You have a goal to be a teacher and mother a certain defined role that you bring up now.Your previous posts mentioned nothing about that and I feel strongly that they were misleading by your ommisions-whereas - you actually have very defined goals and have it all worked out.

I have kids and I changed careers and its not easy starting out in any new venture. I am not saying it was a doddle to retrain - but it wasnt that difficult at all.THen again I had a career to fall back on so it didnt matter if I messed up. The OP may not find the academic side easy and some people are not cut out for it.

I too am a parent and know the drill on finances and childcare and work from home ATM- so it can be done.I would not take the risk in todays economic climate.

OP - let me ask - what will your earning potential be and your chance of work when you finish? IF at the end of 4 years if you end up starting again and it takes you 10 years to reach the equivalent that you are at now -will you be satisfied. In other words -is what you are planning viable or is it just dropping out?

It seems to me you havent convinced yourself yet if you are asking the question.

skooterblue

I think we all have to get back to the original point, IS it a realistic option for the OP, to break with his 30k a year permeant job which he is not thrilled about. To persue a four years honours degree in Dublin with no soucre of Finance.

Possibly impending college fees, rising unemployment and so immediate signs of recovery from the US.

OP What are your thoughts on the subject?

LegacyUser

Going back to full time Ed with a loan of that size will make every day difficult in college, to the point of distraction from your studies, if you are finding it difficult in keeping up payments.

I also am for change of career by way of further education and did so myself but did so part time and with perceverence if I may add. Luckily I had the option. As a suggestion I would wait for another year or so and pay off as much of the loan as you possibly can. This country is in for a rough ride over the next 12 months, both in the public and private sector, and it's not using my crystal ball I say this :-). Already, people are thankful they are in stable jobs even though they hate every day of it. You can make the application anyway and depending on your circustances decline the offer. By this way you will have a clearer picture of what's what, how much of a debt you are in etc...

Wish you luck on your choice.