How Is Everyone Paying for School?

Discussion in 'Online & DL Teaching' started by carter611, Mar 5, 2009.

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  1. carter611

    carter611 New Member

    I'm just curious as to how everyone is funding their education. I have noticed several people working on a second Masters and/or PHD. In my case I'm about 20k down in my Masters and would love a PHD. I just find the degree to be very cost prohibitive given the price tag. Is everyone getting student loans?

    I current teach online at two institutions and would love to obtain a PHD. The price tag really frightens me although, I know it would open up a lot of doors.
     
  2. jaer57

    jaer57 New Member

    I have some of my GI Bill left, and my employer pays for $5250 of "approved" education costs per fiscal year, so long as I maintain a B average.

    $5250 a year is enough to cover 12 semester hours a year in tuition so long as the tuition is below $437.50 per hour, so it's a pretty good deal and I consider myself lucky; so long as I don't get laid off or fired (knock on wood).

    My girlfriend is funding her grad school through employer assistance as well. Good stuff if you can get it...
     
  3. Tireman 44444

    Tireman 44444 Well-Known Member

    My own pocket. My part time teaching pays for it.
     
  4. airtorn

    airtorn Moderator Staff Member

    I paid for my degrees through a combination of tuition assistance, GI Bill, my paycheck, and student loans which are ultimately my paycheck.
     
  5. pugbelly

    pugbelly New Member

    Paycheck and student loans.

    Pug
     
  6. okiemom

    okiemom New Member

    Out of my pocket.
     
  7. Randell1234

    Randell1234 Moderator Staff Member

    Mostly tuition assistance but pay some out of pocket. No student loans - ever.
     
  8. cookderosa

    cookderosa Resident Chef

    <<I'm just curious as to how everyone is funding their education. I have noticed several people working on a second Masters and/or PHD. In my case I'm about 20k down in my Masters and would love a PHD. I just find the degree to be very cost prohibitive given the price tag. Is everyone getting student loans?>>



    CASH!
     
  9. Tireman 44444

    Tireman 44444 Well-Known Member

    Nope. Not here. Would not touch them with a ten foot pole. In history, the cost does not justify a loan. In my wife's case ( Walden) it does. She will make this back, hence her student loans are justified.
     
  10. BlueMason

    BlueMason Audaces fortuna juvat

    Out of own pocket as well. My employer offers a measly $1250/year so I forego that and claim my educational costs on income tax which serves me better.
     
  11. Lost.Monkey

    Lost.Monkey New Member

    Ran a ponzi scheme, robbed a 7-11.
     
  12. Kizmet

    Kizmet Moderator Staff Member

    out of pocket
    one credit card (almost zero balance)
    stay at home vacations
    no restaurants
    old(ish) non-glam vehicle
    basic wardrobe
    worn out library card (interlibrary loan is so cool)
    no cell phone
    basic cable
     
  13. mattbrent

    mattbrent Active Member

    I get 70% tuition assistance on 3 classes per school year. Plus, I teach in a "high need" school based on poverty levels, so I'll have $5,000 of my student loans forgiven after teaching for 5 years. Next year will be year 5. Woohoo! That's 25% of my loan.

    Life Long Learning tax credits are also a big help.

    -Matt
     
  14. Smirnoff

    Smirnoff New Member

    Options

    Company stock options that finally paid off - talk about a long road!!!:D
     
  15. Vinipink

    Vinipink Accounting Monster

    I was able to cash in a retirement plan (no contribution from my part) from one of my employers and paid in full for my tuition for the NCU doctorate. I have some student loans but not much.
     
  16. Vinipink

    Vinipink Accounting Monster

    Almost like looking at a mirror :D
     
  17. nobycane

    nobycane New Member

    I was awarded a Fellowship upon entry into my doctoral program......all expenses and tuition paid for 100%!
    I even a get a stipend back every term.
     
  18. carter611

    carter611 New Member

    Thanks Everyone

    I have about 20k of student loans already and will probably put the pressure on my employer to help me with my PHD in the future. I probably won't look to expand my teaching base beyond the two schools any time soon, so this will suffice for now. Again, thanks for the feedback everyone.
     
  19. gonenomad

    gonenomad New Member

    I paid for my first BS with a loan and working part time.
    My first masters was with an assistantship that included tuition remission.
    My teaching license, which led to the second masters also resulted in a small loan.
    Second masters was paid for out of pocket. I have a loan for that degree.
    Doctorate was paid for by an NSF fellowship that included all tuition and a 30K/yr stipend.

    I am now working on a third masters. I am paying for this out of pocket. I teach an extra class each semester. The extra money from this class is earmarked for my student loans. Since my loans are deferred while I am in school I have been investing what I would have been paying in student loan payments. Zero percent interest while in school! I was getting close to having enough to pay them off; that is until last November. My logic is that whenever I decide to stop attending school I will use the money I invested to pay off the loan.
     
  20. Tireman 44444

    Tireman 44444 Well-Known Member

    I forgot to add. My employer will pay 500 dollar per semester (Spring, Summer and Fall) if you are enrolled and accepted into a doctoral program.
     

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