1st Trimester

Take a semester off or Finish? *Money*

Here is my dilemma:

Next semester from Jan to May it will be my last semester of school. I am due in April. I was entirely okay with that because my school offers online classes, and I can do them from home instead of missing a day here and there. So, on that end it was entirely worked out. The issue now is money. 

From January to May we would have to pay about 1050 a month if I were to take my last 6 classes online. If I were to take let's say 5 in person and one online it would be about $847 a month, it's still a lot but it is still more doable. DH, mother in law, and my family think that is best if I just finish, but I keep thinking that no one is considering the money. I won't work from whenever I deliver for up to 3 months, which is what we can afford. At which point I would either find an entirely different job or the same job I have now (that's a adifferent story). 

My idea was that perhaps it's wiser for me to take off the semester and use my paycheck to pay the little bit we have left of our debt and to throw it into our savings. My DH keeps saying that yes, we will be in debt and money will be tight if I stay in school, but he and mom and everyone else believe that school is an investment,so it's worth the debt. To me, I understand my side and theirs, and because I understand both sides I am not sure what to do.

If it helps - DH makes 40 thousand a year minus our insurance, and I get paid $15 an hour working about 32 hours a week. 

Any opinions? 
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Re: Take a semester off or Finish? *Money*

  • Finish.  It will be WAY easier for you to find a new job with a degree.
  • Idani, I keep thinking the same thing, but then when I think about paying let's say 1050 a month and being in debt it kind of gets me to want to wait. . 
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  • Finish.   You can pay down debt, you can never get back this time to yourself to finish school.  Have you thought about when you would actually finish if you didn't do it now?  I have a 17 month old, it's hard.  I cannot imagine working, going to school, and being a mom.  You are so close to being done.  Debt sucks, we are in the middle of trying to pay it off ourselves, but your education, and furthering your carrer, will make this well worth it.  Also think about how this degree will increase your paycheck if you change jobs.  That will help pay off the debt! 

    Married DH 7/30/11

    CSC arrived 5/7/12 

    CHC arrived 6/2/14

  • FINISH!

    you are soooo close! And I promise, once you have a little one, it will NEVER be a "good time" to go back and finish that one semester.. chances are, it will never be done.  Plus it will be harder to juggle the courseload plus a baby... yes, it will be hard to do it in your last trimester, but even as hard as that might be, it will be much, much harder to do with a baby/toddler. 


    Catherine
    Wife, Mother of 4, and expecting again at 39!


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  • Finish. You never know how crazy life will be or how tight money will be after the little one arrives. It's better to finish school as soon as possible. With a degree you also have been earning potential, which will enable you to pay debt faster. :)
  • Finish! You are so close and your college degree is an investment in your family.....you can do it!
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  • If you are due in April, how can you keep up with your courses while you're in labor & just settling in after you give birth? I ask because I'm having a similar conundrum- my next semester ends in May and I'm due in May & I feel like taking time off for childbirth or any complications will ruin an entire semester of hard work.

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    H e n r y  May 21, 2014

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  • Finish! I am currently working two jobs, have a 3 and 1/2 year old and I'm pregnant and taking 5 classes, let me tell ya.. I would much rather be spending my time with my daughter and husband!! I wish I would have finished when I had the chance! Promise it will be worth it! I understand the struggling with money but I can also tell you how hard it is to leave your baby!
  • I'd say it depends on what you are studying and how likely it is that you can find a job once you return to working. A few things to consider:

    1. Most schools MUST accommodate your pregnancy. If you decide to do in person studies, your professors will need to work with you. This means taking many assignments in advance/alternative assignments and/or accepting that once you have your baby, you will likely not return to class and they will need to accept what work is left via email.  It also depends on your major... I had a friend who missed half a semester to deliver her son but I was an English major. Read books in advance, write papers. I saw that someone was a nursing major... no way you can miss the last month of your clinicals or whatnot! However, since you can take all of your classes online, I'd assume you could work something out.

    2. It may be $1050 a month for online classes, but it'll be the same in the Fall when you return to finish (if you skip the spring) for online classes, and you'll have to consider that you will also need to consider the cost of a baby (diapers, food, clothes) and daycare, if you chose in person classes.

    I personally suggest the online classes, though maybe taking one or two in person might not be a bad idea. It is your last semester, you do want to have that senior experience! My Master's program is all online and it greatly reduces stress. I'm expecting my first and she's due the end of May (classes are over the beginning) so unless she's early it shouldn't interfere with my school. 
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    EDD 5.29.14


  • Thanks everyone. To answer the question - that's why we wanted me to take online courses because if there are any complications or anything I can still do my work (with husband's help) since the courses will be online which is why we considered just paying the 1050 a month for the full 5-6 online courses. 

    The course load itself won't be hard because only one of those classes is a major class, and the rest are just elective courses for me to fulfill my 120 credit for graduation. 

    We figured that if I go in person sure husband can drive me IF I was too uncomfortable driving or anything, but that might put my semester getting screwed up at a higher risk. We did decide that it is better for me to just finish because like a lot of you are saying it's only one semester left, it's not a year or something. 

    We also figured that regardless if I finish next semester or the following we will still be paying off my student loans, and it definitely would be harder with kids and I know that because I watched my mother finish her degree with me and my sister as toddlers and kids. 

    We aren't really worried about the expenses for the baby because we have a savings account only for that which we aren't touching even though some people have suggested we use it to pay off debt, but our credit card debt have 0% interest until sometime next year in May. and then there are our student loans (me 40k, and him about 10k). 
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  • Another vote for finishing.  Savings is great (and so important), but making yourself more marketable with a degree is more important right now.  The chance of you finishing after baby comes is a lot smaller due to time and energy.  Your earning potential grows so much with a degree - go for it!!!
  • I say do what you feel will be better.  My first daughter was due June 5th and my semester ended May 18th.  It was hell because I was so tired and it was uncomfortable for me.  I was working full time and taking a fulltime course load.  I did it but part of me wishes I hadn't.  Even with our savings, my maternity leave was expensive and that extra semester worth of cash would have been helpful.  

    Also, just because you have a baby doesn't mean you can't/won't go back.  I took the Fall semester off after she was born and went right back in the spring. 

    You'll figure it out! Good luck! Both options take a strong conviction in your education and a great attitude on your part! Good luck!
  • I'd say finish the first time I was in school I dropped out to take care of younger cousin because her parents couldnt. It took me over a decade to go back because life just kept happening it was never a good time once I stopped. Now at almost 30 I have to start again as a freshman because my credits are all to old and none of them transfer. 
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  • FINISH!!  In the scheme of thing that is not a big difference in tuition.  Are you paying the tuition out of pocket or taking out more loans?  You should be able defer your loans while you are in school...right?  I guess I'm confused about the exact situation but in my opinion student loan debt is way better than credit card debt mainly because the interest rates for credit cards are so high.  If you have federal loans there are tons of payment plans that will let your lower monthly payment so you can pay down you CC debt faster. 
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  • Finish!!!

     

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  • Thanks everybody!! 
    I will finish indeed, it makes much more sense. 
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  • I would wait. My last PG I was in my last year and didn't want to take a semester off and put myself further behind so I signed up for online classes.. Long story short I had a month long hospital stay and an enormous amount of complications that came out of NO WHERE and my university would not 1. Forgive that semester, they counted as Fs. Or 2. Refund my money. So I ended up having to retake the classes anyway and paid for them twice.. You never know what's gonna happen.
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