[L.A.M]

WWYD....

I have ALWAYS wanted to do a particular degree at Uni, time has come to do it or give up on the idea as in another 10 years no point doing it really re work prosepcts thereafter etc (I am 40 soon).

Problem is the cost. Due to what I earn, about $60k (includes penalties for working w/end and public holdiays and some OT) I have to pay for the course year to year as I study. I can manage it..just..things will be tight.

It means however my house that already needs some work (nothing major) will have to wait 6 yrs (I can only study PT as I NEED to work), as will the new couch I kind of need but can scrape by without. The carpet that needs replacing will have to wait, and kids activities etc will be minimal and not much else will be going on as I never really had much of a lavish budget to begin with...bills paid, mortgage paid, kids school costs and needs meet, a movie in school holidays or trip to zoo for kids, and a bit for this and that that needs replacing, fixing etc.

Can I do it for 6yrs. If for a couple I could suck it up, but 6.

I know people go without for kids to be a SAHM or SAHD, and economise for that.

Could you go without any frills pretty much to realise a dream, that would mean I earn more than now in the end and I'd probably be a lot happier work wise as I wouldn't be brain dead everyday always. BUT I have a little splash money now, not a lot, but if I studied I'd have none.

[PB2]

Yes, do it. you have many more working years ahead of you. if you can do so for a year or two do it, a lot can happen after that, wages can increase, new other job opportunities may arise etc, do not look at the whole 6 years, work your way towards your goal and see what the future holds.

good luck

[WibbleWobble]

Why do you have to pay your fees up front? Are you not eligible for HECS/HELP?

[TherophosaBlondi]

Why would you have to pay upfront for it? Would you not be eligible for Fee Help?

[L.A.M]

I can defer until tax time using fee HELP/HECS, BUT I then will have to pay 5% of my wage towards my debt due to what I earn, so will need to pay most of my PT study debt then, about $3.5k.


Once upon a time, married and two wages $3.5k wasn't significant to worry over, now single and paying a mortgage alone and raising 3 kids it is significant.

I have tried to think, just do this year and see about next yr as it arises.

This post has been edited by L.A.M: 02/02/2013, 07:19 PM

[Rosepickles]

Yes do it, you have already stated all of the positives and fulfilling a dream is a pretty good reason to do something. From what you have posted the pluses far outweigh the bad.

Enjoy your degree!

[Sunnycat]

Please do it. It will so be worth it in the end. The repair works can wait,

[NotBitzerMaloney]

Do it!

[emma_jean]

What could it hurt to try? At least give it a go, and if you find it too uncomfortable to lose 5% of your income, then reassess You might find some surprising ways to save money and achieve your dreams.

[WibbleWobble]

The tax is taken out each time you get paid, personally I have never really noticed the difference.

The debt is also held over and not sent from the uni to the ATO straight away, so the first year you may not have a debt anyway and could give you the chance to save some money to pay off fees for the next year at the reduced rate.

Don't let a debt deter you, work out how much you would be down each week and how little difference it will probably make to your budget. If you think it is that dire you can apply to the ATO to be exempt for having HELP withheld for that financial year.

Go for it.