Returning to College: Financial and Educational Strategy

Paying for College
1

<p>Alrite… I’m in the middle of a big quarterlife crisis and need some advice.</p>

<p>I graduated in ’05 from a top UC and planned to advance my education to the doctorate level. But further research into post-PhD prospects unsteadied my direction and lots happened internally and externally that changed my plans. Right now I hate my job, a job with little pay, little hope of advancement generally, and I’ve lost passion and interest in my field. I’m going change careers entirely and likely need to return to school for that.</p>

<p>Perhaps some CC posters can critique my plans and suggest the optimal way to accomplish these goals in a financially keen way.</p>

<p>My Stats:</p>

<p>UC Graduate, 3.4 GPA, biological sciences
Income: 42k/year but in that’s Bay Area earnings where a 1 bedroom apartment costs about $1200-1400/month. I hear Texas is nice this time of year.</p>

<p>$20k in federal student loans from undergrad
No outstanding credit card debt
740 FICO (for loans)
A parent who cannot help finance further education</p>

<p>I want to study engineering—with business / IE as a backup and have recently taken some math past Calc III while working 50 hours/week. But this rate of progress isn’t enough. As far as engineering goes, I’m considering getting second BS (MS if feasible) and so far have two main plans:</p>

<p>(1) Fill out FASFA and apply as a freshman. </p>

<p>Pros: I may access more financial aid transfers don’t get, and could finish in 2-3 years if my general ed requirements transfer.</p>

<p>Cons: I’m working so my EFC is “high” making loans a grim reality. But If I’ve learned anything from reading threads here, the less in loans the better.</p>

<p>(2) Work ½ time, cut living expenses to the bone, scrape by in a dense living situation, spend 1-2 years at a community college taking programming, calculus-based physics, a bit more math, then apply as a transfer student to in-state (non-UC) and OOS schools.</p>

<p>Pro: I can complete more units for cheap and build up my backup plan, avoid the loan volume in Plan 1, and also lower my EFC by earning less.</p>

<p>Con: This plan could take a total of 3-5 years to complete. Also, transfer status could limit my choices of OOS colleges and I might scrape up only fin aid leftovers.</p>

<p>Any advice on which off the two paths are better / need improvement, or if there’s better ways? I loathe my situation and in hindsight would have done things differently in college. But what can I say: with greater maturity and motivation I’m going to get things done.</p>

2

<p>its not only more difficult to gain acceptance to college for a 2nd BA, but federal aid is much more difficult to find.

[quote]
What if I am seeking a second undergraduate degree?</p>

<p>You may be eligible for Federal Direct Loans. If you have a bachelors degree and want to receive aid for a second degree, you may have your college or the Admissions Office confirm admission in a second degree program. Students seeking a second bachelors degree are not eligible for most Federal Financial Aid Programs.

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<p>I'd suggest finding a job in a company who will help pay for college.</p>

3

<p>I did something like this back in the last century when I went from an unemployable liberal arts degree to a graduate degree in agriculture. I did it with a year and a half of undergraduate and graduate work at my home state public U, and then did my MS elsewhere. While doing that undergraduate work, I was classified as a "senior transfer" because of all of my credits which meant that I always got the classes I wanted at the times I wanted. </p>

<p>First, you need to define what it is you want. A second Bachelor's or a Master's in Engineering? Sit down with your transcripts, and the degree requirements for the program you want. If what you really want is the M.Eng., what would you have to take to qualify for that program? Do you need a full engineering degree, or do you just need coursework? (And, if you look around carefully, there may be an M Eng. program that will take you with your undergrad degree provided you are willing to pick up a couple of undergrad classes in addition to the M.Eng. sequence.) If all you need is coursework, how much of it can you get on the cheap at the community college?</p>

<p>If what you really want is the B.S.Eng. then you need to compare your transcripts to the course sequences in the field you want to be in. What classes do you need to complete? How many of them can you get at your community college? How many will you need to take at the upper level university?</p>

<p>Work backwards from where you need to end up, and write out a formal plan for how you will finish these classes. Then, make an appointment with the major advisor for the field you are interested in at the university engineering college. Take your plan in with you. Tell him/her how you need to have X class this fall so you can be in Y class in the spring so that you can be in Z class next year. He/she will never have seen anything like you before - or at least not for a long time. Get him/her on your side, and the academic part will be a done deal.</p>

<p>As for the financial issue. You are a grown up. You know that it doesn't really matter where you go to school. You know how expensive university level studies are. Go to the most convenient in-state public university. Live cheap and work part-time. Ace your classes (and believe me, that is a lot easier when you are a goal oriented grown up!). Develop strong relationships with your professors who are going to help you get good internships/jobs/grad school admissions.</p>

<p>It will take a while, but gee it will be waaaaaay better than being yet another unemployed biology Ph.D.!</p>

<p>Wishing you all the very best.</p>

4

<p>Emkity is right. Going for a second bachelor's severely limits what you can get in terms of grants. Graduate school monies are notoriously difficult to get which is why schools have so heavily funded their own programs. Doubt there would be many grad students at all if they had to find their own funds. It might be better for you to go the business route for a MBA. You may find that banks and loans are far more open to you in that route as the payback is better. If you can somehow put together some sort of a Masters/MBA program incorporating the engineering, you would have far more access to funds. Second Bachelor's are just not well funded even in terms of loans.</p>

5

<p>what sort of engineering are you planning on-?
I think you can get your foot in the door in many areas with your bio degree, you should at least find out more about it before you get another degree you feel no interest in. ( and bio is such a huge field- I don't see how you could have lost interest in it- perhaps you are just not looking in the right places)

[quote]

Acoustical engineering
Aquatic and environmental engineering
Aerospace (Aeronautical) engineering
Agricultural engineering
Architectural engineering
Automotive engineering (automotive systems engineering)
Biological engineering
Biological systems engineering
Biomedical engineering
Biomaterials engineering
Bioresource engineering
Ceramic engineering
Chemical engineering
Civil engineering
Coastal engineering
Combat engineering
Communications system engineering
Computer engineering
Computer science (considered a field of engineering in some countries)
Construction engineering
Control engineering (control systems engineering)
Cost engineering
Ecological engineering
Electrical engineering
Electronics engineering (includes microelectronics engineering, microelectronics and semiconductor engineering)
Electromechanical engineering
Engineering science and mechanics
Engineering physics (engineering science)
Environmental engineering
Computational finance (financial engineering)
Fire protection engineering
Food engineering
Forensic engineering
Forest engineering
Genetic engineering
Geomatics engineering
Geotechnical engineering
Hydraulic engineering
Industrial engineering (includes production engineering)
Information engineering
Instrumentation engineering
Integrated engineering
Industrial engineering
Landscape engineering (landscape architecture)
Marine engineering
Materials engineering (includes metallurgical engineering)
Mechanical engineering
Manufacturing engineering
Mechatronics
Microsystems engineering
Military engineering
Minerals process engineering
Mineral engineering
Mining engineering
Nanoengineering
Neural engineering
Naval architecture
Nuclear engineering
Optical engineering
Ocean engineering
Packaging engineering
Paper engineering
Photovoltaics engineering
Petroleum engineering
Plastics engineering
Polymer engineering
Power engineering
Process engineering
Quality engineering (quality assurance engineering)
Reliability engineering
Safety engineering
Sanitation engineering
Security engineering
Sewage engineering
Software engineering
Structural engineering
Surveying
Systems engineering (systems design engineering)
Thermodynamic engineering
Tissue engineering
Traffic engineering
Transportation engineering (transport engineering)
Vacuum engineering
Value engineering
Textile engineering?

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6

<p>happymomof1: "It will take a while, but gee it will be waaaaaay better than being yet another unemployed biology Ph.D.!"</p>

<p>Amen!! :) What a thorough and helpful post. I take it you lean towards the 2nd plan?</p>

<p>cptofthehouse & emeraldkity4:</p>

<p>Good points about the realities of a 2nd bachelors attempt. I'm afraid private loans are a possibility unless I find a generous school. Basically, the problem is that even with math and physics beyond the min. for a bio degree, getting into an MS engineering program or even a "process engineer" or "associate engineer" job at HappyGene Pharma seems like a tough, tough sale. That isn't a critique on how engineers run their show, but just how I precieve it. I'd like to be dead wrong. That's why I considered a second BS. </p>

<p>My principal interest is Biochemical Engineering or Chemical Engineering. I am investigating if environmental engineering is a good fit.</p>

7

<p>You're correct, I do lean toward the second plan.</p>

<p>I'd also suggest that you schedule a meeting with the Biochem/Chem/Enviro Engineering folks at your old university first (assuming that one or more of those programs exists there). They may be able to help you work out a fast-track plan. You could also check around for bio-tech programs that would be a quicker way into "HappyGene Pharma".</p>

<p>As for the MBA route, a few years back Cornell had an MBA for people interested in managing bio-tech firms. I don't know what became of it or whether it was only focused on those MS and PhD biologists who needed management skills. Depending on your career goals, you might take a look at something like that.</p>