Tired and Confused

I have been swaying back and forth over the issue of returning to Grad school. I have been laid off from my job for over a year now. So, I thought this would be a perfect time to go back to school.But, I have been having second thoughts about this idea. I already have student loan debt for a Masters I never completed three years ago and fear adding on more to that debt.

I don't know what to do My husband is right now carrying the load of paying all our household bills. And I don't want to add more to his load by getting a degree ( Masters in Library Science) in something that does not guarantee a job. My first student loan payments are due in May...a friend of mine told me apply for economic hardship to buy more time. But, this will be my second time applying for economic hardship...I think I can only request it three times. When the first time I applied for it I was sure I would find a job in no time. Now, a year later I'm still seeking work and most of the job offers I get would not even cover the rent. So, to make a long story short I was thinking about returning back to Grad School in order to improve my job outlook. Would that be the right choice? or Should I just keep looking for a job? Help!!!

Side note: I was looking at a Masters in Library Science or Masters in Psychology.

 

Going for a master's has a couple of potential benefits. I emphasize the word "potential."

First, it will allow you to continue deferring your student loans for the duration of your enrollment, plus some months. This will help your cash flow.

Second, you can borrow enough in the student loan program to cover your school costs plus expenses, which should give you more cash during this time.

Third, your studies won't interfere with your continued job hunt. In fact, the networking that comes from them may actually help. Plus, your active enrollment may help you land jobs--assuming you don't have to possess the degree before being hired/licensed/certified/etc.

Fourth, the degree could prepare you for entry into that new field, opening up job opportunities that are closed to you now.

Fifth, things might get better during the duration of your enrollment, making a job hunt better then versus now.

Finally, pursing a degree fills this time gainfully, making the void easier to explain during job interviews. (It's a bit odd, but not weird, to quit work and return to school.)

Now the downside:

If what you need is a job, perhaps you should focus 100% of your time on that.

The additional expenses of going to school are tough on top of an already difficult situation.

Your student loans will eventually have to be paid; the more you've borrowed, the larger your debt and payments will be.

The degree you pursue might not open up new opportunities after all. You might become more highly educated while simultaneously become more outdated in your field.

Frankly, these situations are always more difficult than can be portrayed by the poster and understood by the readers. So, no advice, just stuff.

 

What I would do is take any tolerable job you can get (even if the pay is unfairly low!) and then keep looking for something better at your leisure. It buys you more time than any other option, with both members of the household working neither one has to make especially much to be in a reasonable financial state. Also, file for the financial hardship extension prior to getting the job and then you will be able to pay some back interest free (stick it to the man). If your husband is squeaking by on his own income then with any income from you I suspect it will be plenty to start moving in the right direction. I am nearly always in favor of the option involving the least debt.

 

The upside of taking a low paying job is that you could be using that income to pay down your student debt.

A lot of business (and some govt bodies including education) these days are hiring temporary workers so you might want to register with several temp agencies. Another approach to finding good jobs is through local networking (including through friends and relatives).

 

Thanks, your suggestions are where my head is right now...on trying to figure which way to go. I have a friend who is pushing me toward the return to school. She listed pretty much all the benefits you posted in continuing my education.

 

I really like your idea...Its what my brother proposed I should do last week. The downside is I tried that idea before and didn't work out. I took a low paying contract job and began paying down my student loans. Then I got laid off Now, its a freaking year later and I'm still looking for work. Most jobs openings are for Temps in my area, Or in fields I have no experience working. I use to be a Library Assistant an you can't move higher up from that job title without a Masters in Library Science. I do have a BS in Psychology and associates in Criminal justice. I have been looking at jobs close to my majors now days.

 

My only fear with having to work again for another temp agency is the abuse. The temp I use to work for was horrible... an when I say horrible I mean awful in how they treated their workers...So, I'm kind of weary about signing up for another Temp.

 

Just a thought but have you checked your local CraigsList - even in my area which has very high unemployent (20+%) there are job openings posted constantly. I just checked and today there are 40 listed so far today. Of course some are scams (work from home type adds). CraigsList works great for employers looking for immediate help - full-time and part-time jobs are listed.

 

Perhaps you have already thought of this, but the US Government always seems to be hiring, and they look for people with experience plus degrees. You can see if they have any gigs that match your skill set on their hiring web site.

 

Do you live near an airport - check TSA - good pay and benefits.
In my area the TSA is looking for people but can't find many who can satisfy background checks.

 

Are you receiving unemployment?

My husband is unemployed now and he was able to get a $4000 grant to take a career development (Project Manager) course through Rutgers University online. He had to jump through a lot of hoops to get it, but while he is out of work is a great time for school and if he gets a job he can take up to a year to finish the course. Maybe there is something like that for you.

As for the Temp road, my daughter has gone that route a couple of times in the past. If you go with a reputable agency you can let them know if the employer treats you wrong. My daughter has been hired for permanant work twice after being a temp.

 

Wow...I'll look at that program

 

Yes, I do live not to far from an airport...I'll check TSA out...thanks

 

That reminded me that a couple of companies I worked for hired temps on the proviso that they could hire them as full time employees if they did an adequate job. This approach is very cost efective for an employer.

 

Find a job that lets you study at work

There are many jobs that let you study. They might not be ideal careers, but they keep you from having to choose between two important options: school and work. You can have both! Examples are nighttime security or clerk jobs, which are still fairly easy to find. They don't pay much but they often require little more than sitting at a booth or desk. Moreover, you often work alone, so there is no one there to mistreat you. This is no joke: there are still campus library night guards! Places with special collections have to keep someone on-site to respond to the complex fire alarm systems. There have been a couple of posts recently where people are trying to decide between this or that. I thought the whole point of non-traditional education was to enable adults with other obligations to go to school. Unless you're wealthy, I think it's a bad idea to go to school without working too.

 

see, that, is a good idea. My wife works at a slow retail store and got a lot of work done during slow hours when she was in school.

 

I was thinking front desk at 24 hour fitness during the graveyard shift but your ideas sound better, probably no interruption.

 

Good plan! You could also keep fit at work when no one was there. You could study and workout at work and enjoy your time off. It seems like a good way to balance competing needs.