How do you pay for college?

Re: Re: Re: Re: Coventional Loan Verses Roth Raid

 

I just went to salary.com. A mid level EE in Northern Cali at an aerospace company would make an average of 68K, mid 75K, top 83K. Emplyoers pay about 5% more in So Cal than Northern Cal - it says on this site.

 

Thank You

Thank You all for your honest responses. I have decided to keep my money in my Roth and pursue a conventional student loan. I stopped the distribution just hours before it was to be sent. Several of you made some very significant points that I evaluated as sound. Your input was greatly appreciated because I was really going around in circles as to what was the right path.

The next real big issue is should I quit my job to pursue school?
I make about $43,000 currently, but I could make much more if I take a year off to finish my degree.

I'm taking classes at ISU one course at a time through the distance telecommunications program. I estimate at my current rate it will take 6 years to complete. My understanding is that I will make up the difference in salary by pursuing my degree and taking one year for the remaining classes.

 

I am working on my masters on weekends and evenings. I wish that I could have taken a year off to focus on just school. I say that if you can afford to take the year off, do it.
Is there any chance ISU would give you a GA if you went fulltime? It would cut down on loan, maybe even eliminate it. Plus, that would help with your living expenses for the year.

 

Re: Thank You

It would depend on the degree and the job market for the field the degree is in. I certainly wouldn't do so for a MBA. Any chance you could increase it to two or three classes at a time?

 

Two or Three classes

I could increase my load to two or three classes but I occassionally travel and usually that does not work well with the road. Some of the classes have a lab requirement involved with them and I will need to go to campus to take them as well.

 

Re: Thank You

OK, simple break even (or in my wierd mind).....

Cost for taking a year off: 43K, then make bout 65k

Cost for not taking a year off: 22k for 6 yearas, then you will make 65k. So cost would be 132k.

Take the year off if you can.

 

Re: Thank You

Have you looked into the Excelsior BSET (also COSC and TESC) ?-- you might be able to earn your degree there faster and/or at lower cost (I gather from various posts that you are studying for a BSET in EE).
Excelsior might also give you credit for your CET or you could use that to support obtaining portfolio credit.

 

Excelsior Program

Ian,

Thank you for responding. My CET is very limited in the amount of credit that it received for exemption because the ACE evaluation sold the program short of its distinction. My Associates degree has very old credits (20yrs old) and Excelsior seems to convey that they will only give exemption for programs that are 11 yrs old in a technology focus. However, it would be nice to get the ABET/TAC accreditation that Excelsior has. Excelsior will acknowledge my current credits received from Indiana State University.

Paul

 

I am have my doubts about salary.com's figures. My mom was top in her class with an EE, took an internship with GE, accepted a job with GE in Houston making a lot of money for a woman EE in those days and accepted every promotion offered (we moved 13 times in 10 years), she then went to Enlgand for a few years and when she came back she found that the market had dropped out of EE's (at least in SoCal), she has spent the last 5 years as a Facilities Manager making 1/2 of what she used to. Her husband, my step father, is a Senior Executive at Boeing (special weapons division), and I'm sure he could get her a job making double her salary if it existed (he assures her it does not).

 

Boeing

I'm not surprised that Boeing doesn't have any positions for EE. Tell her to look into Lockheed or Orbital Science. Orbital Sciences is screaming for EEs. So, much so....they are offering employees $5000 dollars for recruiting referrals!!

Tell your mom to give me the referral credit if she applies.

Boeing has lost many contracts and is in trouble.

Paul

 

Re: Boeing

I just left her a message - I'll let you know if she applies.

 

Re: Boeing

All the above companies list their openings on Monster.com but more and more engineering work is being subcontracted.
There also appears to be a growing trend in aerospace to hire contingent labor (job shop and independent contract labor) to save on perquisites and hire/fire costs.

 

Re: Re: Boeing

We went that route for a while, but have now moved to the other end. (We have openings (and a referral program) too!!!!)

 

Re: Boeing

This week I checked a few things relative to your comments about Boeing (I am a stockholder):

Boeing has a couple of thousand openings of which around a thousand are posted on monster.com.

Boeing is not in trouble sales of over $54 billion, backlog of over $100, billion, profit od aroubnd 7%. Commercial aircraft sales are down but are also down for EADS. If Boeing was in trouble the stock market would be reacting accordingly.

I do not recall any lost contracts except the Navy A12 program cancelled for default (and still in litigation) in 1991.

If you are referring to ethics lapses note that all the three recently publicised situations were all identified by and reported to the US Government by Boeing (Today an ethics reort is available for download from the Boeing news release page).

Orbital Science's need for engineers is driven to some extent by contracts awarded to them by Boeing.

 

OT: Boeing

Greetings.

Admittedly, Boeing is probably doing a bit better that I am, so, if we use me as a reference, Boeing is doing great! On the other hand, were we to be mean and use Airbus for comparison, I think the term "in trouble" might be successfully applied to Boeing.

While a recent "Economist" magazine (www.economist.com) article (Nov. 29, 2003?) didn't suggest that Boeing was on its last legs, they are clearly having trouble, and are possibly in it as well. <g>

Cordially,
Richard Kanarek

 

You both need to look up the latest problems, I knew Ken Branch in some business dealings and this will make a HUGE impact on both of them (one good, one bad). Ethics is becoming the name of the game. Our company was briefed on stealing information and what to do when this sort of thing happens. I will try to find a link.