Financial Aid - TERRIBLE idea?

calmom
Fri, 01 May 2009 03:23:44 +0000

It has support services for my disability that really are willing to work with me

Is your disability the kind that will in any way limit or impair your ability to work? (I’m guessing “no”, since you now work as a nursing assistant and sometimes work double shifts – that’s hard work and you sound up to it)

The main reason I asked that question was simply to assess your future earning capacity. My rule of thumb is student debt should not exceed anticipated first year salary – but its reasonable to think that as a college grad you’ll earn $35K a year. So as long as there is no impediment to your working full time when you graduate, I think you are safe to take on the debt.

The fact that the economy is bad now is actually more reason to take on the debt and go to school. It is likely that things will be better in 2 years-- but college will only cost more then. So you can get your degree now while employment opportunities are limited, then graduate at a time when more jobs are opening up. Given the Obama agenda on health care, I think a health care industry job is a pretty good bet for employment in any case – you know that the government is pouring more $$ into health care now, which is going to translate into more jobs both now and down the line.