Ok, I'm a mom of 4 expensive kids (two over 18, two under 3) - the older two because of college, the younger two because of daycare. My husband and I work full-time, and together we are doing ok - his income is about 60% of the total pie, and mine is about 40%. I have been realizing that my job is going to come to an endpoint in the fairly near future (I could milk it for another year, I'm thinking), and so I've been starting to get in gear for a job search, but now I'm thinking that maybe what I really want to do is go get my Master's in Public Health.
How do we afford to not only lose my income for two years, but also pay out another $25,000 over that time? Of course, some of my daycare costs may be eliminated, but not necessarily. I would love to hear accounts from other moms who have done something similar, or are in the planning stages now.
I do my MBA program 100% online through Southern New Hampshire University. I love the school and everyone I have worked with. It truly is one of the best places for online education. I have gotten more friends in Maryland to go to school that way! Can you look in to that option?
Night classes!
I hated hardly seeing my kids but it was well worth the work.
For your education costs you can get scholarships, grants, and loans. there is a lot of money available for education now a days.
I have been a grad student for six years, working on a PhD part-time. I am in an online degree program which means I can do my schoolwork at night or on weekends. For half this time I was also working full-time and my daughter was two when I started. Then I moved to PT work and started taking out student loans. So, I get more sleep, but am also acquiring some debt. I've cut my spending to lower than it's ever been before, also. I am now working on my dissertation.
My older two were expected to be mainly self-supporting while they were in college. They had college funds, but anything more needed, they found a way to provide.
I agree with fully researching the field you are considering moving into. Talk to people working in the field, and find statistics on the predicted growth of that field, the possible salary, and the ease of finding work in your geographic location. Talk with the schools you are considering about total costs, student loan/grant/scholarship options.
The company I worked for as well as my husband's company paid for our Master Degrees. We just had to receive a "B" or better to keep the money we were reimbursed. My company even reimbursed me for books:0). Wow, were we lucky! Fyi...This was almost 20 yrs ago. Do companies still do this?
Well so will there be jobs, in that degree, once you graduate?
That is also, another bottom line to this.
AND will you enjoy working in that field????
You have to make sure that IS the degree/major you want.
Otherwise, if you end up not working in that field, per your degree/major, it will be, a waste of money.
As many graduates, end up not even working in the field of their degree.
Some Employers, will pay a percentage for school.
But you won't know that, unless you do your research and get a job with one of these companies.
Then, what about the income, per those 2 years of Grad school? Or sometimes it takes longer to get your degree.... depending on if you go to school FULL time or part time.
So will getting your Master's take 2 years or longer.
So while you go to school, will you still be working or not?????
Or reduce your work hours. And go to school at the same time.
It will be busy. Studying, takes a LOT of time, 24/7, and hours.
My Husband goes to school AND works FULL time.
He is, constantly busy and I am like a Single Parent.
For now.
Until he graduates.
So... know what going to school, will entail. And it WILL affect your Husband and he WILL need to be doing more, in the home and with your kids....
Pay for school out of pocket when you can, and books costs a lot of money too. If you can pay out of pocket as you go, that reduces the debt you will owe, for school.
Even if you are a stay at home mom, while you go to school... you will need to have LOTS of time, at home, or on campus... studying and for classes. Classes can be on campus or online. Depending on the class offerings. So, who will mind your children... when you are going to school????? And while at home, studying????
It is a big, toggle of a parent's time... while going to school.
When my Husband is home from work, he spends ALL his time, studying and for tests. He is not, available, nor do we bother him, while he is studying. School is important. And he studies, EVERY day, and EVERY night, 7 days a week.
Whether a Mom or Dad.... attending school at the same time, will constitute major life adjustment for the whole household.
I know, I am living that. Since my Hubby works and goes to school. I am a SAHM.
Your 2 older kids, if they are at home, can help with the younger kids. AND in the home with house duty.
But... KNOW for sure, IF this is the degree you want, and that you WILL end up getting a job in that degree/field, once you graduate.
Do not do this, if you are unsure.
It is money and time.
Research.
Look up Grants and scholarships, for Moms getting an advanced degree.
Could you possibly find a position in that field where your employer could help you cover the cost?
My cousin is the divorced (and non-child support receiving) mother of a sweet, awesome autistic son who is now 20 years old. When he was 12 she went back to college, and when he was 15 she began grad school. During this time she worked part-time, and sustained a serious injury to her shoulder that required multiple surgeries and rehabilitation. My aunt did move in, but only to be there for her to help out with the kids if need be.
Her goal is to work as a counselor with ability-challenged youth, and that's what she's looking for, because upon graduation last June she found she can't find anything in the field right now so has taken a job as program director at a Boys & Girls Club in SoCal.
She is buying their home in South Orange County, CA, paying tuition for her 21 year daughter to attend a state university, making a car payment, and constantly looking for her dream job.
She cut down on everything while going to school ~ eating out, going on vacations, buying new cars, clothing ~ it all pretty much stopped. Her daughter was in cheerleading all throughout high school, and she did fund-raising for all her costs and uniforms. When they began looking at colleges she made it clear to her daughter that she needed to look into scholarships, grants, work study, any financial aid she was eligible for. Birthday and Christmas presents were clothing, shoes, etc., Grandma, aunts and uncles came through with the electronics and fun stuff.
If she can do it so can you, go for it!!
I am the mother of two beautiful toddlers (ages 1 & 2 yep they are 13 months apart!) and I had a similar issue. My husband made about 60% of our total income and both of us wanted to go back to graduate school (I am a teacher my husband is an engineer). What worked for us was finding REPUTABLE online graduate programs. We inquired at our local universities and found two programs that fit the bill. Both are accelerated programs which means that you can finish the work in half the time (for example it has taken only 1 year and 1 semester of going to school full-time and I will finish in December). The online option allowed us to keep working and going to school (its tiring and we don't get to sleep much, but its only for 1.5 years). The trick is finding a good program because there are a lot of strictly online schools (i.e. they don't have a building/campus you can visit) that only want your money and those degrees are worthless.
