Enter the Job Market or the World of Debt?

3aidlillahi

Hey y'all,

When I was sixteen years of age, I borrowed some money from my father for a couple of dress shirts, black pants and black shoes. I think it amounted to about fifty FRN's. The clothes were for a job, my first. Like my job, this was the first time I'd really ever borrowed money, aside from "borrowing" a dollar from your mom for a ice cream cone. As far as I can remember, it was my last time as well (I'm 21).

A short time later, I learned, after my sister being accepted to a college, that my fairly well-off uncle (involved in oil and gas trading; go figure) had pledged his wealth towards her education, as well as those of all of his nieces and nephews. For more than four years, I had a confidence of no-debt. A wonderful feeling for someone who was not born to the most financially-capable parents.

Three years of school breezed by. However, as I enter my fourth and final year of University, I've learned that my uncle, for whatever reason not known to me nor my family, is cutting us off. Now, I must finance my own way through school. He's still paying through this semester, and I have grants enough to last tuition for next semester. My job is enough to cover the less-than three grand for rent and food for this year.

However, my problem lies with the next year. I'm interested in hydrology, particularly ecohydrology and sustainable agriculture in arid and semi-arid lands as well as environmental restoration (and urban development on the side). There are not many programs in-state and those that I know of, are all private. So I'm looking at, what I imagine to be, close to $20-25 grand just for tuition. Including everything else, likely $30 grand. It's likely that I can get most of this paid for my second year (out of two years) with assistantships but those aren't common in first year.

As noted above, my parents are out of the equation. They make plenty of money, but are the typical American family that we bemoan on these threads: no savings, in constant debt, buy buy buy mode, no sense of the future. I have little savings, which I'll need to make it through this year.

So I'm left with two options: graduate and go onto a job or take in tens of thousands of dollars worth of debt. I'd likely have a hard time getting into what I want or even something close like enviro-engineering with only a geology degree and no research (I'm working on that last one). I'd likely (hopefully) find a job in oil and gas, which would be lucrative, but not exactly my first choice.

Should I jump into a job market with only a BS (and then, go back to school after a few years) or should I potentially drown myself in debt?

I obviously have plenty of time to make a decision and full details haven't be discovered (where I'd go for school, what's the tuition, any grants/scholarships; where do I work, what are my responsibilities, my pay and benefits). Just curious if anyone has some advice or has gone through something similar in the past. Hmm...was this too long?

Thanks for reading. Smile

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Riches are not from abundance of worldly goods, but from a contented mind.

Cashmere · Light Sweet Crude Joined: Mar 27, 2008 Posts: 1971

Cost/Benefit, cost/benefit, cost/benefit.

I'd say wing it for a year or two, save money like a fiend, prep prep prep.

Indentured Servitude will return.

Those is deep debt will be the first generation that work for food.
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Massive Human Dieoff must occur as a result of Peak Oil. Many more than half will die. It will occur everywhere, including where you live. If you fail to recognize this, then your odds of living move toward the "going to die" group.

TreeFarmer · Heavy Crude Joined: Jun 26, 2007 Posts: 352

Do not go into debt. If I read your post right, you can graduate now with a degree in geology? The way mining is going right now I'd think you could find a really good job with a mining company.

Do that and save your money to build up an emergancy fund equal to 3 to 6 months of living expenses, then go to school at night.

One thing some people don't realize is that a lot of companies will pay for employees to take night classes. If geology is in any kind of demand I'd think you could find a job like that where they pay for the extra training you want.

I wish you well;

TF

Milret2 · Tar Sands Joined: May 01, 2008 Posts: 25

Just some thoughts from someone who never used student loans of any type (my own professional degree was earned courtesy of the U.S. Army while serving in the army where the only payment I had to make was stay in the service for some years after I graduated .. actually retired from the military fifteen years after I graduated).

You need to give some thought about what your education will allow you to make reasonably after you have gotten the degree. If borrowing 30 K at 6-7% a year will allow you a reasonable chance of earning 75-100 K a year shortly after graduation .. you should consider such a loan as a reasonable risk, in my opinion. Some folks go deeply in debt to get degrees that qualify them for jobs that are not able to compensate them enough to live adequately, much less pay down the debt load.

If your desired profession does not pay all that well (30 K of debt is not crushing as long as you can keep up with the interest in my opinion .. heck .. new cars now a days cost that much) then maybe choosing what ever career path your BS degree will allow you and saving/living life frugally until you feel comfortable going back to school might be a less risky route.

Here is a link you may or may not find of interest. Good luck what ever your decision. Maybe others will have more to say.-->http://www.finaid.org/loans/

3aidlillahi

mmasters

Get in a growth oriented field. I think at this point it's mainly energy or healthcare. Politics, miserable people, poor funding and unstable enviornments aren't where you want to be in life ....especially just starting in the workforce.
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Just look at us. Everything is backwards; everything is upside down. Doctors destory health, lawyers destroy justice, universities destroy knowledge, governments destroy freedom, the major media destroy information and religions destroy spirituality.

gt1370a · Heavy Crude Joined: Apr 02, 2005 Posts: 361

Interview with some potential employers in the oil/gas or mining areas, and ask what kind of tuition reimbursement programs they have, and if they offer flexible work schedules to accomodate classes. If that looks like a possibility, take a lucrative job with them, and have THEM pay for your grad school.

One potential problem might be that distance programs might not be offered in your field of choice, and your job might not be near a school that offers that type of program. I dunno, something to consider.

Tyler_JC

Having some work experience in the field will better prepare you for the masters degree, no?

I would suggest working in the field a little (if you can find a good job). Who knows, your employer might even subsidize your advanced degree if you do a good job.

Worst case, you've earned some valuable experience and built up your savings.
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alokin · Intermediate Crude Joined: Aug 24, 2007 Posts: 885

I would get ready with the studies as quick as possible.
Whatever degree you have don't count much. But if you are able to
find a job maybe in your holidays that suit your interests you may learn there much more than in uni. the rest you teach yourself with books.