how to go back to college full time

[huberm]

I have been working full time for the past 4 years, and since then have acquired a car loan, mortgage, and credit card debt.

I am interested in going back to college to get my BS (currently have AAS), but unsure of how to deal w/ the debts I have acquired. Anyone here done this before, and if so, how did you manage?

 

[acemcmac]

I had a roomate who did it. He was in the military.

I plan on going back to school full time while keeping my full time job

 

[sswingle]

Keep a job and manage your debts.

 

[Turin39789]

Originally posted by: huberm
I have been working full time for the past 4 years, and since then have acquired a car loan, mortgage, and credit card debt.

I am interested in going back to college to get my BS (currently have AAS), but unsure of how to deal w/ the debts I have acquired. Anyone here done this before, and if so, how did you manage?

I'd be interested in this as well. I'm in a similar situation(just personal loans used to pay off the credit card debt though, no car or mortgage) and I'm currently going back part time in the evenings. There is no way I can finish the degree this way, and even if all the classes were offered in the evenings it would take take longer than I'd like. Right now I'm thinking about going to school full time and working part time once I exhaust my tuition reimbursement money at work.

 

[huberm]

well I understand how I take care of the mortgage (sell the house), but my car loan is currently upside down so it would be a pain to sell.

not to mention going from making $55-60k/yr to a couple hundred a week would suck.

grrrrr

 

[jhayx7]

Why not just go to school part time? I work full time and go to school part time right now (online through University of Alabama).

 

[huberm]

Originally posted by: jhayx7
Why not just go to school part time? I work full time and go to school part time right now (online through University of Alabama).

A couple of reasons:
1)I would rather it be a campus experience. I'm not convinced on the quality of an online education.

2)no colleges around me, so I would have to move & quit my job to go to a 4yr university.

 

[ChaoZ]

Originally posted by: huberm

Originally posted by: jhayx7
Why not just go to school part time? I work full time and go to school part time right now (online through University of Alabama).

A couple of reasons:
1)I would rather it be a campus experience. I'm not convinced on the quality of an online education.

2)no colleges around me, so I would have to move & quit my job to go to a 4yr university.

I have an online class that's probably better than all my other classes. They have a discussion board where you can discuss things... Anyways, usually in a 500+ student class, you don't get much talking in.

 

[dullard]

I see a pattern of bad decisions here.

1) Being upside down on a car.
2) Having credit card debt.
3) Racking up massive debt and then choosing to abandon a good job.
4) Deciding to go to college just weeks AFTER the school year starts.

None of these are impossible to overcome, but you might want to rethink your monetary planning. Is going to college another bad monetary decision? I mean it seems like you already have a well-paying job. Or is this something that will really make your life better? If you can truely answer 'yes' to that last question, then go for it.

But I think you should wait a bit. Heck, you just missed the start of the school year. You might even be too late to get accepted into a college for the spring semester (it often takes many months). Thus, wait until next year to start. You can apply soon, but don't plan to go until summer/fall of 2007. The waiting time will allow you to do the important things:
1) Decide if going to college is really the right decision.
2) Pay off the credit card debt. There is no reason for you to have this.
3) Get the car loan mostly paid off, if not all paid off.
4) Sell the house. The housing market nationally has a glut of houses on the market. Thus, expect it to take longer to sell your house than in the recent past. Of course, your local situation may differ from the national situation.

 

[Turin39789]

Originally posted by: dullard
I see a pattern of bad decisions here.

1) Being upside down on a car.
2) Having credit card debt.
3) Racking up massive debt and then choosing to abandon a good job.
4) Deciding to go to college just weeks AFTER the school year starts.

None of these are impossible to overcome, but you might want to rethink your monetary planning. Is going to college another bad monetary decision? I mean it seems like you already have a well-paying job. Or is this something that will really make your life better? If you can truely answer 'yes' to that last question, then go for it.

But I think you should wait a bit. Heck, you just missed the start of the school year. You might even be too late to get accepted into a college for the spring semester (it often takes many months). Thus, wait until next year to start. You can apply soon, but don't plan to go until summer/fall of 2007. The waiting time will allow you to do the important things:
1) Decide if going to college is really the right decision.
2) Pay off the credit card debt. There is no reason for you to have this.
3) Get the car loan mostly paid off, if not all paid off.
4) Sell the house. The housing market nationally has a glut of houses. Thus, expect it to take longer than in the past. Of course, your local situation may differ from the national situation.

Agreed, pay down your debt, and set aside money to make it through the college years. You might have to actually live cheap as a college student again, but its better than failing at school and taking a financial hit. I'll only be walking away from 30k, but I hope to stay at my pay rate and get to work part time. Going ot have to eat cheaper, take less trips, drink less etc. It won't be easy

 

[jhayx7]

Originally posted by: ChaoZ

Originally posted by: huberm

Originally posted by: jhayx7
Why not just go to school part time? I work full time and go to school part time right now (online through University of Alabama).

A couple of reasons:
1)I would rather it be a campus experience. I'm not convinced on the quality of an online education.

2)no colleges around me, so I would have to move & quit my job to go to a 4yr university.

I have an online class that's probably better than all my other classes. They have a discussion board where you can discuss things... Anyways, usually in a 500+ student class, you don't get much talking in.

In my Business Statistics class, each lecture is taped and then posted on the net. It also displays what the professor is displaying on the tv's in the room (powerpoints). I find this to be a better way to learn because if I get stuck on a problem, I can go back and review the lecture. Also having a discussion board is very helpful. I would much rather take classes online than on campus.

Online classes from diploma mills are a different story....

 

[fitzov]

FAFSA--fill it out every year and borrow as much as possible subsidized (no payments or interest accrual while in school). Even if you don't spend it on school, you can invest it for a positive return. About the debts, I can't help you.

 

[djheater]

Lots of schools offer accelerated format Bachelors degrees, geared toward working professionals with some college credit.

You need to start scouting local schools, check out their websites nad meet with an advisor there. You're actually in a good postition because you have your associates and will probably transfer in ready to finish off quickly.