My husband is against the idea. The cost to complete my Bachelors at current tuition rates is $34,000. That’s not taking into consideration any tuition rate hikes. I graduated from this college with an AAS degree in 2003 and my student loans total over $18,000. AND I now only make $10.50/hr. He also is concern of more student loans and paying for it for the rest of our lives. I will still be paying when my daughter is getting ready to go to college and he is worried that will interfere with helping her.
I should also mention I am old – in my 30s. I already an Associates degree in Business from a private college. They now offer a Bachelors degree. I am very tempted but wonder if it is really worth the time and $$. If I would go to a public college/university it would be cheaper but take much longer and the class times would not work well. The private college offers also have a lot of classes online with the rest in the evening. Plus they will take alot of my earned credits.
I should mention that we do have a college fund for our daughter. She will be 8 in December and it currently we have $3400 in a 529b plan. AND we make monthly contribitions of $75 to this fund.
FYI – We own a home, two nice vehicles, have no problem paying bills. Currently we are quite comfortable. My husband is concerned that I will graduate and not earn much more than I do right now. Oh, and I’m 32 – I would think in two years I would still be at an employable age.
You are hardly “old” in your thirties, but if you are still paying student loans and only making a small salary, then you might want to rethink going back. You owe your daughter a college education, as you had time to do this long ago. And, by the time you graduate you will be TOO OLD, as the job marketplace is becoming one of youth. If you can go the on line route, great, but make sure you don’t get yourself so deeply in debt you will never get out. And remember, you owe your daughter first and foremost.