Post # 1
I’m a psychology student finishing up my undergrad. We’re hoping to get married before I go to grad school. I get extremely leery of my student loans though. My parents couldn’t help my financially for college and they did not put aside any money towards college. I’ve worked since I was 14, I’ve gone to community college for two years, and I’m going to a lower priced state school to finish my bachelor’s. When I graduate though I will still have around 30k in student loans, graduate school (my dream is to go into art therapy) would put me at around 60 or 70k.
My fiance has no student loans, He’s a paramedic/firefighter and will be making about 50 or 60k a year when we get married (he’s hoping to eventually move into the suburbs which would up his pay as well later on). If I went to graduate school, from what I’ve heard it’s a fulltime job for the most part and we would have to rely on my fiance’s salary more so for those two years. So I stuggle with what to do. Should I go and just knock it out while we’re young or would this put me in heavy financial debt later that’s just not worth it? Should we wait to get married until after (although we both really don’t want to wait that long)? Should I settle with a job I don’t really want in whatever I can find with my bachelors? Should I just go to school part time and work?
Any insight from those of you who are going through the same thing or have would be MUCH appreciated!
Post # 3
I feel your pain. I ‘m currently in a grad program for psychology. I am in my third year and it is stressful and a full time job. I’m glad I didn’t take a break from undergraduate. After school is loan payment, house payments, kids etc. plus you cannot get a decent job with a bachelors degree. You might as well go on. go for it!
Post # 4
I work 40+ hours a week, am a full-time grad studen, am writing my thesis, and just planned my November wedding. I’m finishing a 3 year program in 1.5 years because of summer school and loading extra courses.
With a solid ‘get it done’ mentality, understanding that everything won’t be ‘perfect,’ and a supportive SO, it is all doable. It’s not ‘fun,’ but we waste more time than we realize- until we are busy.
Also, student loans are offered at $10,000 a semester. If you take full loans, be careful to finish your program in 2 years to keep the debt down.
Post # 5
Most grad school classes are at night so you could probably work during the day if your program follows this standard. It will be a lot but on the plus side, if the wedding is out of the way before that’s one less thing to have to worry about. I didn’t work during grad school bc I was getting another certification at the same time causing me to have day and night classes but I wish I had bc the loans now are crazy.
Post # 6
I’m not in a three year Psychology program (EEK!) but I’m in a fast track one year MBA Program. I’m working on a future budget now, and having a tough time with the loans – if I do the 10 year payoff, loans will equal rent!
Post # 7
I did a four year BA in psychology, and my fiance did a four year Bsc in Biology. We met there and are getting married this summer, which will be the end of year 1 of my new BSc program (4) in nursing, and his 3 year in medical lab science.
We were talking the other day about how ‘because we live together, his money is my money’. I was joking. He immediately tried the ‘well, my debt is your debt!’
Hell no it isn’t. That’s what prenups are for. It’ll be an agreement in ours that while we’re together, whoever is making more money will be contributing to the other’s previous student debt and whatever we amass after the wedding (we’re anticipating about 30k each; we get a lot of grants, but I’m doing 8 years of undergrad..), however if we split, we’re not paying or taking on each other’s stuff.
Our debt accounts from OSAP and lines of credit are, in no way, being made joint. Our chequing account likely will be, for simplicity.
Post # 8
@Peacockfeather: That’s definitely a good way to go. Up until now, my SO have been splitting everything 50-50. Rent, groceries, outings, etc.
Recently, though, my job has been massively downsized since my boss’s grant is running low. I can’t pick up another job because of time/scheduling constraints with my current classes and as a foreign student I can’t work off campus. Total nightmare. So I swallowed my pride and took up his offer to help support me, since he works full-time and makes ok money, until the summer when I can work full time. Basically that entails him paying for everything past rent and my own lunches and gas. (which I have enough saved up for) That way we aren’t limited in activities, like skiing and the occasional date, just because I can’t contribute my share. Also we can cook better food.
The idea, though, is that I’ll contribute as much as I can afford, and then when my undergrad and vet school are all done with, hopefully without too much debt, I’ll be making the big bucks and it’ll all even out 🙂
But all our finances are managed separately, so nothing would be really complicated if we broke up except splitting who gets what furniture. But it’s nice to focus on my grades and not have to take out loans until vet school comes ’round.
Post # 9
I’m there so I feel your pain, but it is do-able. I just finished up my thesis and officially have my MS in dance therapy so I’m right there with you. You don’t even want to know how bad my loans are (there are actually only 6 programs that even exist for dance therapy). But I can tell you that it’s doable. The school I went to is incredibly expensive because it’s in the NYC area. And while I’m not quite there yet (still waiting for my certification to be processed so I’ll have better luck with the job hunt) most of the art and dance therapy students graduating before me are working in the field and seem to be at least managing their loans so I have hope. It’s one of those fields that you get into not for the money, but because you can’t imagine doing anything else. But it is possible so give it a chance. Good luck and feel free to message me if you have questions.
Post # 10
It is a very demanding intense program so you do need to approach it in that way. Very few in our class were really able to work during the program. And it is emotionally exhausting. My DH was a trooper and his emotional support was great for my sanity. Good luck whatever you decide.