My Stomach Is in Knots

I think you should college shop!!! $24K for an ASSOCIATES??!! That is ludicrous - they are taking advantage of you!

Do not sign!!

That is a HUGE number for an associates degree I don't think it is worth it! i would put if off for now!

Have you looked at scholarships? There are many who go unanswered. The can be small but every little bit helps. I would go back to the financial aids advisor and have explain how the payback works. If it is still the same as when I went to school, you have 6 months after graduation to start paying back and the amount is small.
I recently talked to a young man who has $62,000 to pay back. He had gone to a private university for 2 years, on loans and grants, decided it wasn't the school for him and transfered to a State university. But after graduation he has to pay back the money.

I would say no--not now. Your husband is unemployed, so I'd wait.

And an associates degree usually doesn't count for that much--money-wise.

I don't mean to be a dream-crusher--that's just my realistic opinion.

Good luck!

$24,000 for an associates degree?!? That sounds awfully high!

You can get an AA at a community college and typically community colleges charge around $100 a credit hour.

Yes, like Pamela said, shop around! That's absolutely absurd to pay THAT much for an AA. There are better, less expensive options that will get you the exact same thing for a fraction of what you're signing to pay.

Honestly, while I'm all for someone going back to school, I don't think it's a wise choice for you right now. Would you be making a lot more money with an Associates degree after you graduate? That's something you want to consider because student loans are very burdensome. No matter what, you have to pay them back, and you can't get out of them at all (even after filing bankruptcy). So, say you go through with it and you graduate, and the bills start rolling in, but you're in the same financial situation you are now? Would your family be able to survive on your paycheck alone plus a loan payment? I don't mean to sound grim, because I hope you do go back to school one day, but realistically..it sounds like it wouldn't be the best for you now.

Where in world are you going that it costs more than 24K to get an associates degree?? Honey I think going back to school is awesome and you should do it, but go somewhere else and look at prices... School is just like anything else and you need to shop around. I had my AS and went back in 2008, to a private Christian University in OK and took loans on all of it, and it is not 24K... they are charging you too much! I think you can go and get a B.S or B.A for that amount of money that is way more valuable in the real world than an AS degree. Good Luck!

As I watch all my friends who hurried into college and are in major dept with no good job ( not all of my friends but a majority) I would say this is not a good idea. I started school 8 yrs ago finished with about 3 semesters left when I had my first child and I am so glad I had my first when i did. I paid for college as I went so I left school with no loans, now I have three kids and stay home, I started classes back up and now am 6 credits away from my associates degree. I take one class at a time and grant pays for it in full. When I start work again in two or so years I am hoping to find a job that will pay for me to continue education. But right now getting an assoc degree just doesn't really pay off if you have to go into debt to get it. What happens if you loose your job also? Then no income at all and even more debt

not beneficial, per suze orman. you're just getting yourself more in debt. i'm sorry. tough situation, but wait til he's working too. :(

My BS didn't cost $24,000. Way too much for an associates. Definitely look around...

Wow 24K for an associates degree that seems a bit much. I think my associates degree was only around $10k. I would check into different schools to see how much they charge for credit hours. I do not think right now is the right time for you to go back to school. I would wait until hubby has a job too!

Maybe take one class at a time (and pay as you go) until your husband goes back to work?

:)

I strongly agree with those who say not to go into debt for this! It's not worth the financial strain. If you want to go back to school, check to see if you can do it somewhere else for less. Keep trying to look for grants, scholarships. Whatever portion you can't get covered, save up for- don't get a loan. You will pay thousands more in interest, and if Murphy comes knocking on your door, and your income is reduced again, the additional debt could be a huge stressor!!

I would talk to your employer and see if there is any way that they help with schooling if it is supposed to be for your career. Also see if once you are done with your degree see if there is a raise after you are done. I know some companies will help with schooling if you are doing it in the field that you are currently working in. It's a tough decision and ultimately you need to make the decision and find out what is right for you. Is the school that you are going to have job placement if your company isn't worth staying at or helping to make more money. Nothing in life worth doing is easy. There is an opportunity at every corner and you need to see if it's worth doing. So no matter what anyone posts here you have to live with the decision and that is what matters most. Look at all your options, pros and cons, and see what is better for you in the long run. Yes your husband is unemployed now, that might help in repayment of loans and also talk to your tax person and see what tax breaks you can get there are a few. Look at every option before making the decision and discuss it with your husband. Good Luck mom hope everything works out.

This is a tough one. I am probably going to be in the minority here but I say it is a bad idea. I took out a ton of loan debt and I make good money and I still regret it every day. $24,000 is a lot of money to have to pay back, and unless you are guaranteed a really good paying job, you will likely have many years of struggle ahead of you.

My suggestion would be to try to add extra jobs, have hubby keep looking, have yard sales, sell things on ebay, change your lifestyle. All of these things add up and make a difference. Have you tried asking for a raise? Start taking on more responsibility at work and try to get more money that way. I have tons of ideas if you want to PM me - we were SUPER broke once too.

Good luck!

Check with state schools and community colleges, hit the library to see what resources they have about financial aid searching. Good luck!

If you do decide to do it PLEASE check into the school. So many of the "career" schools are currently under scrutiny for misleading and deceptive practices. It is a huge racket in most cases.

You should also talk to as many people in your field as you can to see if this would actually make you more valuable and qualified for advancement. I would worry that your on-th-job training is equal if not better to the school that you are looking into. Regardless, your superiors in your field should be able to give you some guidance on how to further yourself.

seems like a bad time to be doing that.... i paid less than that for my bachelor's degree. and if your husband is unemployed and you currently make "pretty good money", it seems completely senseless. is it a field with a MAJOR shortage of employees that's gonna earn a LOT more income right off the bat? if you have to quit school and your loan becomes payable right away, what will you do?

Depends highly on what field.......are you sure you will get a higher paying job with this degree? Is your husband getting any leads? What does hubby think? If he gets a job will you need to pay for day care while you are in class?

How much more money would you make in your field with the degree? And considering that, how long would it take you to pay back the $24,000 (sounds like way too much for an associates degree IMO) and then begin to actually make more money?

Do NOT NOT NOT put yourself in debt to go to school! That is ridiculous!! An associates degree will not raise your potential earnings enough to justify that amount of debt. Seriously reconsider. ESPECIALLY since your husband is unemployed. IMO this would be a huge mistake. Trust your gut instinct and change your mind.

1st - check with your company to see if they have a tuition reimbursment program or grants they offer to thier employees. Companies will often pay for you to further your education if it will be in the same field. You may just have to promise to stay with them for a certain period of time.

School is neverending. And so are the loans! We will forever be retraining, going back to school, learning. Is what you are signing up for going to be something you can build on? An AAS wont open many doors, unless it's in the medical field. Will you be able to go on for a BA or BS with your chosen field? You say you already make good money in this field and the degree "could help." You aren't changing fields. If you don't need the schooling to keep your job or get a job, and there is no gaurantee of a promotion or more money, I am not sure it's a wise move.
Since hubby is unemlpoyed, have you thought about asking him to go back to school or get some retraining?

I would not do it, right now.
NO no no.

Do you have children as well?

Associates Degrees don't mean much.
it is usually only prerequisite classes.

Someone needs to just get a job at McDonald's even, if you have to.
You all need money and medical insurance.

School loan debt, is the only thing that is not even forgiven. Or VERY rarely.
Even if you can't pay.
Keep that in mind.
There is NO statute of limitations, on student loan debts.
http://www.bankrate.com/finance/debt/student-loan-forgive...

apply for fafsa immediately, just google it and it should lead you to the website, i think its something like fafsa.gov...second, go your schools financial aid department and ask for a list of scholarships the school may offer.
I know the struggle, I'm a mother of three aged six and younger, I attend 4 classes a semester (full-time) and work about 30 hours a week. In the last two years i've been going to school, I've recieved enough financial aid (fafsa and pell grants) and scholarships, to pay for my full tuition, my books, pay some bills, I was even able to take a week long vacation with my family with some of the monies i've recieved.
long term, the idea is to make money and stay out of debt. it's 24 thou this year, how long will it take you to get your associates? good luck

Student loan debt is a very serious commitment, even if you should declare bankrupcy you are still responcible to pay off those loans. A defaulted student loan could also devestate your credit score. My husband and I have taken out student loans in the past and we are making payments to pay them off, but it is a burden that we will have for many years to come. In this economy there is also a strong chance that even with a degree you may not be able to find work in your chosen carreer. These are weighty matters that you need to think over and pray about. Another thing to consider is what school you will be attending, for-profit schools such as the University of Pheonix tend to be far more expencive than state univeristies or community colleges so they are not always your best choice. Make sure you are considering all applicable grants and scolarships (many are need based rather than merit based) before you take out any loans. Good luck to you!

Yeah, I agree with the other comments. That's too much for an associates. A community college or something would be a better choice - I think you must have had some intuition there!

$24,000!!!!!! For an Associates' degree?

I have been working on a PhD for several years and have not incurred even half that amount of student loan debt! WHY are you taking on so much debt? Given the current state of the job market, your likelihood of being able to pay that off with an associate's degree is low. I think you need to rethink this deal and either find another less expensive school or figure out how to live on less money while you are in school. Many people are now graduating, are unable to find jobs, and are unable to pay off that debt. And, due to the new bankruptcy law, they are also unable to bankrupt out of that debt.

The problem is that school Loans are tenacious- YOU CANNOT GET OUT FROM UNDER THEM IN A BANKRUPTCY...that I know of.

Go to a local city college and get a degree there.

I believe that going back to school is ALWAYS the best option. Student loans suck, but you can defer them while in school, and start paying them after. There are tons of government programs that let you pay what you can until you really get back on your feet.

Hope this helps :)