Not having enough money to cover rent/food/books. Interest eating me alive. Loans getting somewhere in the 100K range. Interest eating me alive. An unexpected emergency or bad luck (medical, etc) causing my finances to get depleted. Not landing a job.
WTH? The OP asking for some expectations is not unreasonable.
What *is* unreasonable is the idea that you can go to any psychology phd program and get a T-T teaching job immediately.
Just because the OP has these loans to not waste his/her money on "useless crap" doesn't mean that the OP can't cut loans out of his/her life.
Is it useless to go out for drinks with people in your department or close friends? No, in the first you often times get a lot of useful discussion, and in the second it allows you to relax and take a break and rest before going back to work. However, BOTH of those situations can be cut out of his/her life if necessary.
All of those things could happen no matter how much you take out in loans, not to mention the assumption that you'll get a job as a psych professor. You can get deferrals or payment reductions on loans if you don't make enough to pay them back, it's pretty common. As for whether summer classes are "worth it" or not, it really depends on your particular circumstances. As an example, this summer I'm taking 2 summer classes which are a sequential pairing that I can't fit into my schedule this year. It'll cost me about $2K, but it'll save me a full semester off the end of my degree, ergo it's worth it. If it weren't going to knock my long-term expenses down, though, it wouldn't be worth it
( ... )
Thank you. That's a very thorough and informative answer.
As an example, this summer I'm taking 2 summer classes which are a sequential pairing that I can't fit into my schedule this year. It'll cost me about $2K, but it'll save me a full semester off the end of my degree, ergo it's worth it.
Do you not have to pay full tuition price for the summer semester, if you only take 6 credits?
If it weren't going to knock my long-term expenses down, though, it wouldn't be worth it.
This is what I mean as "worth it". If it's cost effective.
Bottom line - take as much as you need to take, but no more than that. It's not a truism, it's a good strategy. Figure out a proper cost-benefit on summer classes and work out if they're worthwhile. Figure out the budget gap in what you make and what you need, and go from there. Factor in new clothes but forget the TV, that's not vital. And so on.
This is what I'm trying to do right now. I just want to get an idea of what to expect.
What will you do, even if your potential wage is high? Take out a big loan and piss away your money? Expect to get a job right away and pay it back?
Reply
Yes. Well, not all at once. For instance, I have a small loan right now, and I'm spending 1/7th of my income towards it monthly.
Reply
Reply
Reply
Reply
Reply
but what does that have to do with your question about how much you could make?
Reply
Giving me an idea of if I'll ever be able to pay the money back, or if I'll be struggling?
I just want to get a decent idea. If nothing else, so I'm not misinformed and create unrealistic expectations, or if I'm worrying too much?
Reply
Reply
wow, life experience really takes you far in, well, life.
Reply
Reply
What *is* unreasonable is the idea that you can go to any psychology phd program and get a T-T teaching job immediately.
Just because the OP has these loans to not waste his/her money on "useless crap" doesn't mean that the OP can't cut loans out of his/her life.
Is it useless to go out for drinks with people in your department or close friends? No, in the first you often times get a lot of useful discussion, and in the second it allows you to relax and take a break and rest before going back to work. However, BOTH of those situations can be cut out of his/her life if necessary.
Reply
I am not telling them to ....?
Reply
Reply
Reply
As an example, this summer I'm taking 2 summer classes which are a sequential pairing that I can't fit into my schedule this year. It'll cost me about $2K, but it'll save me a full semester off the end of my degree, ergo it's worth it.
Do you not have to pay full tuition price for the summer semester, if you only take 6 credits?
If it weren't going to knock my long-term expenses down, though, it wouldn't be worth it.
This is what I mean as "worth it". If it's cost effective.
Bottom line - take as much as you need to take, but no more than that. It's not a truism, it's a good strategy. Figure out a proper cost-benefit on summer classes and work out if they're worthwhile. Figure out the budget gap in what you make and what you need, and go from there. Factor in new clothes but forget the TV, that's not vital. And so on.
This is what I'm trying to do right now. I just want to get an idea of what to expect.
Reply
Leave a comment