<p>I'm a liberal arts grad (2008) looking to get a 2nd degree in computer science. There are a lot of reasons this is a good idea, basically I'm a tech recruiter and know how good the market is, and I have a sincere interest in CS. And obviously being a recruiter I'm well networked locally.</p>
<p>That said, I'm clueless on funding. Right now I'm $5k in debt. All told it takes me 3 solid years to get the degree. I probably continue recruiting (I work somewhat independently, from home), albeit part-time, and make $0-$20k/year (depending on how many deals I close, I figure I can close 3 over each year at $6k/deal). The earliest I could start courses is Jan 2013.</p>
<p>I have never taken out a student loan. I have very nonliquid assets (property) of $30k-$40k, so in the long run I probably break even. It is realistic to expect a salary of around $80k after 3 years experience (6 years from now). </p>
<p>I can also continue recruiting--I'm good at it and you can make a lot of money, and as a backup I could always land an agency gig that pays $60k-$100k+, but I just feel like I'm at a dead end and it's very transactional at this point. My options are really limited because nobody will hire me for anything else.</p>
<p>Am I dreaming here? Is this not realistic at all with Stafford + private loans? I guess the biggest question is could I get my hands on private loans. I have good credit, but I'm young (almost 26). </p>
<p>I remember Sallie Mae used to have a very good calculator of loan payments compared to expected salary and percentage going towards payments after graduation, I haven't been able to find it again but I'm sure the numbers would be sound. The biggest question is will I get cut off from funding before I finish.</p>
<p>Anyway I'm going to go to the local college and speak to an adviser, was curious if I'll get laughed off campus :)</p>
<p>You can’t get money for second bachelors, not the Sallie Mae loans, anyways. I don’t konw about the private loans. </p>
<p>My DH’s cousin get a computer science certificate by going a year at a local state u after he already had a managemnt BS. He was not eligible to get any aid while he did it , but by going two summers and during the year, he get the courses he needed for the certificate and it did parlay into some job opportunities.</p>
<p>My understanding is that I am eligible for federal loans up to my lifetime cap, and then private loans on top of that. I don’t expect any aid, just loans.</p>
<p>Also if anyone could chime in on what someone with good credit might expect to pay on a private loan, and what is a realistic range to expect getting over 3 years.</p>
<p>Sorry, I meant the PELL, not the loans.<br>
Since you have not taken out loans in the past, yes,you have the federal amounts still available to you. It’s difficult to say how it would go on the private market as it does change quickly. I suggest you see what your bank has for student loans. </p>
<p>From your estimates, you seem to be doing quite well at your job. That you see what the need and salary levels are for CS posiitons, you are better able than most of us to be able to see how this would enhance your job prospects.</p>
<p>Maybe a good idea to talk to the bank, thanks. My general thinking is if I can be $45k in the red, that’s still a good investment given the career prospects. It’s just a question of will anyone write me the check</p>
<p>Kelsmom, that is a surprise to me. So a student embarking on a second bachelors can take out more each year than an independent or PLUS denied parent, student can on his first? For how many years can a studen borrow this amount in DIrect Loans?</p>
<p>If I could get $20500/year, that should be fine assuming I could close a few deals. Thanks, I will start talking with advisers to see what a plan would look like for the degree.</p>
<p>that sounds more like the amount for a grad student, not a second BS. Is that right? How come he can borrow more than an independent student that is a junior or senior? Isn’t that amount about $15k. </p>
<p>Also…doesn’t he still need his parents info if he’s not 24 since this is a BS and not grad school?</p>
<p>BTW…that would still mean borrowing TOO much money…even if the student “thinks” he might be earning $80k upon graduation (which is a big if anyway).</p>
<p>The student has $5k in debt, plus that would be an additional $40k.</p>
<p>Oops … don’t know how I twisted that around!!! I am now in a grad-only school & have $20,500-on-the-brain. Yes, it is only $5500 for freshman year of a second degree, unless you qualify as an independent student (and the fact that you have a degree does not make you independent) - independent students can borrow $9500 as a freshman. You would have to borrow a private loan for anything over & above.</p>
<p>Even if he’s going back for a second degree, is he a freshman? or would he have junior status? Would he have to do Gen Ed all over again? Or does the school accept his Gen Ed from his first degree?</p>
<p>It depends. I have seen 2nd degree students start over as freshmen, and I have seen them come in as juniors. He would have to find out his standing, but a junior would be eligible to receive $7500/$12,500 per year.</p>
<p>Have you considered an MS in information systems? It may be possible for you to get an MS in computer science or a related field without getting a 2nd bachelor’s - but taking a few prerequisite courses and then applying to an MS program.</p>
<p>Wow, I’d steer clear of any school that made me start over as a freshman if I already had a degree. You may want to specifically target universities that have schools of continuing education that cater towards working adults who want to career change.</p>
<p>If there are many requirements, and/or the coursework must be followed in a strict sequence, then yes the OP might be looking at four years. But even then, the Gen Eds can be expected to transfer, so it is very unlikely that it would be necessary for the OP to be enrolled full-time. With careful planning, it may be possible for the OP to complete the second degree without having to give up the current full-time job, which could mean no debt at all.</p>
<p>I am thinking along the same lines as Julliet. An MS would be better, if possible. You can find prerequisites all over – both at local colleges and on-line. Some related programs may accept you already depending on the degree you have. For example, a Bioinformatics MS program I’m familiar with takes either bio majors or computer science majors as well unrelated majors, provided they have a bachelors degree and some relevant vocational experience in bio or tech.</p>
<p>OP, you have unusual excellent access to what is needed to get jobs in that field. Is a whole new Bachelors necessary, or would knowledge of certain things, a certificate be adequate, taking enough to embark on a masters in the field. </p>
<p>If the Animation program is a BFA, it wouldn’t be unusual to require four full years because those programs often have a very specific sequence of courses. In a BFA program, sometimes even the Gen Ed courses are unique to that major, which can mean that previous coursework doesn’t count at all toward the new degree.</p>
<p>Thanks all for the responses, I should add my situation is pretty unique.</p>
<p>There is a specific BS program at third or fourth tier state school that that at the end offers up a senior project where you get to tackle real world issues. I don’t have to start as a freshman, most of the 3 years comes from catching up on math and the sequences of prereqs required for CS courses (for the first year I am probably doing this at a community college). Out of the ~50 professionals I’ve placed, three engineers have been graduates of this program the past 5-6 years. They were by all accounts really solid technically. Their salaries were:
0-1 year experience: $50k
5 years experience: $80k
8 years experience: $95k, $125k total comp w/stock options. Competing offer at another company of $105k + $5k bonus (within 2 weeks of looking)</p>
<p>So yes, I can try for an M.S., but here I have a program that delivers me exactly where I want to go. </p>
<p>Additionally I’m in a good situation to go back to school, as I work for a very laid back small company that is commission-based and work from home. If I want to make 3-5 placements per year (~$18k-$30k), the owner doesn’t care and I still have more than enough time to fit in school. And the job itself is networking in the industry I want to work.</p>
<p>Then good luck to your, Rennet. You have more info particular to your path than most of us would.</p>
<p>My son got his BFA, Happymom, and because he had nearly all of his general ed requirements already due to his APs and having taken some local college courses, he could have still finished early for his degree. I guess the problem is if a specific school does not have very specific courses in the sequencing so that 8 full semester have to be taken, one after another without availability of those courses in the summers. </p>
<p>The young man is taking a full load as though he never had college which just seems odd to me. His mother says the program is so constructed so that he has to take every single course laid out. It’s the animation program at Coloradu U in Denver.</p>