<p>Hi there, I am confused with this question for days, so here I am to discuss with you a little bit, open to any opinions.
Here is my situation, 27 of age, female. working full time, doing marketing and administration at a fairly big and stable company, located in the bay area. salary 50k a year, plus matching retirement plan (up to 5%), whole package health insurance, dental, and 15 days paid vacation. My expense are about 2200 a month right now, which brings me about 700 est of savings (not including retirement plan). I think I am in a pretty good shape, financially, with no debt.
I ve been taken courses from community college since 2010, and I will be earning full 60 units after this spring semester, my GPA right now is 3.6, and probably will remain that prior transfer. I had applied 5 UCs in Nov last year, which are UCLA, UCB, UCI, UCSD (TAG), UCSC. I have to relocate if I get admitted to UCSD, and mostly likely I will, I hope. My major is international studies, or business administration as secondary.
I immigrated to the states 3 1/2 years ago, and I had no money to settle everything beside working hard to survive. I wish I had the choice to afford school as full time.
Anyways, now the problem in front of me is, should I quite my job, relocating to UCSD as a full time student. the consequences are, I will be in debt. I will lose my job, and income probably for 2 years, which equals 100k. On top of that, I will be paying for tuition (I wish I will get financial aid, but can not count on that, at least for living cost), tuition is around 40K. I gonna have to get a loan. so that s 140k for a bachelor degree.
And how much I will be making after I graduate, 70k?, then thats 7 years to absorb the cost of 140K (coz that s a raise of 20k a year from now).
So, what do you think? if ppl say getting a degree is an investment, do you think it worth for me to jump in?</p>
<p>Bump in new forum.</p>
<p>If I were you, I would stay where you are and go to local U part-time. You are planning to major in the field where employment is not a guarantee and $140K is too much debt for $70K a year salary.</p>
<p>I guess you’re not really saying you’d be $140K in debt but rather, $40K cost plus $100K lost income.</p>
<p>Realistically, you need to look at the cost of attendance (COA) for going to UCSD. I think the normal COA of UCSD for someone living off-campus is roughly $28K/year for a total of $112K for 4 years. However, with your CC credits and with taking a full load of classes you might be able to get done in less time - maybe even 3 years which would make it more like $84K (but don’t count on the 3 years but check into that possibility).</p>
<p>Now, there’s nothing that says you couldn’t get at least a part time job while attending UCSD and that can offset some of these costs by working p/t during the year and f/t in the summer ideally. You should be able to bring in at least $10K per yr doing this so that knocks your debt down more.</p>
<p>You might also get financial aid grants that might knock down your cost even more.</p>
<p>Also keep in mind that generally the cost of housing is lower in the San Diego area than the bay area.</p>
<p>As far as whether it’s ‘worth it’ to get the degree - it’s hard to say. Do you know whether not having a degree is holding you back from promotion where you work right now? Frankly, $50K/yr in the bay area isn’t a lot of money so unless there’s a lot of potential for you there at that company you’ll find it difficult to keep going on that salary. The other issue you’ll face is doing lateral moves to other companies where you’ll need to compete with others who might have a degree when you don’t.</p>
<p>The $70K figure you indicated is just an arbitrary figure - you may earn more than that or less than that so don’t put a lot of stock in that figure.</p>
<p>Note - almost everyone who goes to college full time is making a short term sacrifice on lost income. The higher the income the higher the short term sacrifice but people do it because they feel that they’re better off in the long term from a couple of perspectives - a likely higher salary but also the fact that they gained the education.</p>
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<p>This was my thought. Not having a degree can end up holding you back at some time in the future.</p>
<p>Since you already have working experience and academic experience in administration, could you maybe get a job at a college or university and then take classes part-time or full-time at the employee’s discount, while having a job to cover living expenses. Even if you had to take a small loan for tuition because your part-time status doesn’t qualify you for scholarship, wouldn’t the overall price be much smaller?</p>
<p>In general, you can always go to college; you can’t always find a job. So I would be biased towards keeping the job.</p>
<p>Perhaps you could ask your management if there is a growth path from your current position. If there is, then they would probably ask you to do various things or do some special projects to prepare you for a promotion. If not, then at least you know where you stand in the company.</p>
<p>Does your employer provide tuition reimbursement? If so, then could you go to school part-time with costs picked up by your employer?</p>
<p>Thank you for all your responding.
In reality, from the past 5 years of my working experience, there is not a guarantee for my future undergrad for a better-pay position. All other stuff coming into the evaluation, such as, I am an asian, and also ESL speaker. Of course, I got my skill set, which optimistically bring me where I am now, at least have a job.
Another thing from most my job hunting experience, employer intended to put degree equivalently to working experiences. you know, once interview, no one focus on where I studied before but what did I do from my previous job.
Talking about salary equivalent, my opinion is not how much you making, but how much you spend. My current job is less stressful and very stable, which I am happy about it.
So, I m thinking of the get the degree thru CSU system, it will allow me to take half time.
:D</p>
<p>Keep your job.
Keep your job.
Go to UCSC, and keep your job.</p>