Did I Just Screw Myself?

bsidebella

Last night I went on a campus tour for a vocational school that is focused on my passion, which is broadcasting. I have a BA in Communications/Media Studies but I cannot find a job in the field (and it's a competative field too). I thought it would be wise to persue further education. There are quite a few things I don't know, like editing software. I learned that the 8-week course would be 100% hands-on learning, I would learn the latest in the field, gain industry connections and they offer job assistance. At the end of the program, I would recieve an associate's degree. 

Well, not only was last night a tour, it was a bit of an audition. They gave me a radio test and a television test, which involved running the equipment, doing cold readings and also reading from a teleprompter. Then, I went and had a bit of a chat with the director of the school. We discussed why I was there, what I wanted to do with my life, etc. I was honest: I told him, I'm broke. I've got nothing. The director said if I was accepted into the program, financial assistance would be discussed.

Well, I got the call today. I've been accepted. I've fallen in love with the program and I would love nothing more than to attend. I think this will give me some drive, some incentive, and most importantly, the experience to gain an edge in the job market.

Now here's where I think I f*cked myself up. FI and I are really living tight. Is it fair to add a student loan on top of all of this? Of course, once I got a job I would be 100% responsible for paying back the loan. But who's to say I will get a job after I graduate the program? My mom has already told me that she does not have the means to help me, and I don't expect her to. FI didn't sound thrilled that I was accepted. I think he was hoping I wouldn't be, and then we wouldn't have to worry about the money.

I don't really have anyone else to talk to about this...anyone got any advice?

MissOwl

bside in my opinion this is exactly when you NEED to take out the loans. someone very close to me just went through the same exact thing. she went back to school and took out loans and got a job within a month of graduation that paid $70K! all she needed was that extra education and her new connections made at her school. i think that it's worth it to pursue this hands on education because it's about skill, not theory. you will come out of this experience with more tangible abilities and lots more connections in your field. i say go for it! good luck lady!

marleylikeair

::upside head slap::

Bella, stop being such a worrywart. Taking on a student loan shouldn't be the reason you don't take an amazing opportunity. GO FOR IT.

Student loans are usually low-interest and deferrable for quite awhile if you don't have the money at first. I think some don't even have any bearing on your credit rating, if I'm not mistaken. But do some research. You can work it out. Even if you have to wait tables for a bit.

DOOO EEET.

heyimbren

Honestly, I'm a big proponent of education, especially if you think it's going to help you get the job and do what you want down the road. I do feel like it's a way to pick up different skills that you never know how they will be beneficial for you in the future.

I do think education is worth the cost. Personally, I would probably put a lot of things on hold for it. But that's just my opinion and it may not help you very much.

Any way you could get just some sort of job on the side to help with bills and all that until you have your "career job"?

calindi

I think it's a good idea, especially if it will fill in skill gaps that would make you more competitive.

That said, ultimately this is a joint decision as you both will carry responsibility for any debt once you're married (yes, you'll be paying it out of your salary, but if you didn't get a job right away, he'd have to help you as legally you would both be tied to the debt.  Also, any money you spend on your loan could have been spent elsewhere, so indirectly he is helping you pay for it).  I think it's important to sit down with your FI and talk about it, figure out how much you'd owe, what the payment schedule would be like, and how you'd budget it - basically, how much money you'd have to be able to make as a salary afterwards to justify it.  And whether you're likely to be able to earn that much money with that experience/degree on your resume.  I kinda don't like that he's not excited for you, since this is something you're clearly excited about and want.  Sit down and ask him his concerns and listen to him. 

We can't make this decision for you - it really should be a sit-down conversation with a calculator with your FI.  Good luck!

bsidebella

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/special-topic-wedding-boards_not-engaged-yet_did-just-screw-myself?plckFindPostKey=Cat:Special%20Topic%20Wedding%20BoardsForum:136Discussion:4c94e4e3-3285-48cc-8694-f33acd597322Post:d38d6f65-f35a-427f-bbd8-e34e649362a6">Re: Did I Just Screw Myself?</a>:
[QUOTE]Any way you could get just some sort of job on the side to help with bills and all that until you have your "career job"?
Posted by heyimbren[/QUOTE]

Now that I've been accepted, I've been thinking about doing that. I'll only be in school Monday through Thursday from 10am until 1:30pm, so a side job would be entirely doable.

leia1979

Do you think this will really make a difference in your hirability? (I totally just made that word up.) I like to look at tradeoffs. You pay X to take the course, and in return you're likely to earn Y more (or you think your Z% more likely to get hired).

Also, is there any possibility for grants, even to just defray a small portion of the cost?

I do think (with my measly one year spent in radio) that it's good to be familiar with all the tools. With those skills you could try to get your foot in somewhere doing production.

PS. If they cover Adobe Audition, hit me up. I use the older version of that at home (and used it back when I did production).

Blue & White

I'm in favor of the program (but I'm also a teacher, so I'm biased.)

A few things I would ask before accepting my position in the program:
a) get that financial assistance discussed (maybe it's not ALL loans?)
b) is there some sort of career placement assistance?  it's hard in these times, but career placement can get your foot in the door...
c) what about internships? (same reason as b)

desertsun

I agree with PPs. If you think you will gain knowledge that will make you more marketable or knowledgable in your field, AND you will enjoy it, I say go for it. And go for the side job, too.

Maybe it will make you feel better if I tell you that I took out a student loan to take a couple grad level classes in library science, my BF at the time (now H) also loaned me some money to help pay, and then I decided that I really did not want to be a librarian. But it was worth the money to find that out. I still kinda feel badly about the whole thing, but the longer I work in a library at a staff level, the more convinced I am that being a librarian is not for me. I don't know what IS for me, but at least I've ruled something out and am not amassing more debt to pursue a career that I know would not make me happy.

It sucks to be almost 30 and still not really have a "career."

But I think it would suck even more to be stuck in a career I hated.

You have a chance to pursue something you love. Grab it!

cu97tiger

Now this is only my personal story, but I quit my job to come back to school and get my MBA full-time. I basically gave up a full-time salary for two years and had to pay a bit to go to school, but I make literally twice as much as I was before. Even with the $55,000 in debt that I racked up, I will be back to even in just 3-4 years but my earning potential has skyrocketed.

Obviously every situation is different, but if you truly believe (and have done your homework) that this program will give you valuable skills and make you more marketable, then I say go for it. And as others have said, the debt isn't 100% yours, which is why your FI's thoughts and concerns should be taken into account.

marleylikeair

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/special-topic-wedding-boards_not-engaged-yet_did-just-screw-myself?plckFindPostKey=Cat:Special%20Topic%20Wedding%20BoardsForum:136Discussion:4c94e4e3-3285-48cc-8694-f33acd597322Post:3e284d57-dc8d-4b11-9680-45681d63a6e7">Re: Did I Just Screw Myself?</a>:
[QUOTE]I agree with PPs. If you think you will gain knowledge that will make you more marketable or knowledgable in your field, AND you will enjoy it, I say go for it. And go for the side job, too. Maybe it will make you feel better if I tell you that I took out a student loan to take a couple grad level classes in library science, my BF at the time (now H) also loaned me some money to help pay, and then I decided that I really did not want to be a librarian. But it was worth the money to find that out. I still kinda feel badly about the whole thing, but the longer I work in a library at a staff level, the more convinced I am that being a librarian is not for me. I don't know what IS for me, but <strong>at least I've ruled something out </strong>and am not amassing more debt to pursue a career that I know would not make me happy.<strong> It sucks to be almost 30 and still not really have a "career."</strong> <strong>But I think it would suck even more to be stuck in a career I hated.</strong> You have a chance to pursue something you love. Grab it!
Posted by desertsun[/QUOTE]

This makes me feel much better about my own life/career. Thanks, desert!. :)

niknik15

It sounds like this opportunity is the best thing for you in the field you want to be in. I think it would be stupid not to do it unless it is ridiculously expensive.  I agree with the others about getting a part time job. 

During the Superbowl, my BF and I went to a friend's dad's house to watch it. While we were there his dad would excuse himself to go make commercials for FoxSports during the game. We even went in his room and watched him record one. I was suprised at how fast he did all of the editing and stuff. I was amazed. Just sayin. Then he told us about all of the local stuff he does. I heard him three times yesterday just on my drive to work and back.

bsidebella

@leia - I don't think they use Audition. They use Avid and Final Cut. I really think it would make a difference in my hiring ability. The more I'm able to do in the industry, the more jonb options I have.

@B&amp;W - There is both career and internship assistance. They don't guarantee you a job, but they can get you interviews. They have connections that I would not get on my own. The broadcasting industry is competitive and small.

@cu97tiger - I feel like this would totally up my earning potential. The more I learn in the industry, the more jobs I would be qualified to do. For example, right now, I wouldn't know how to begin producing a radio show. If I did the program, I would learn how to do that.

@niknik - the entire course for the class would be about $12000 total. It's not cheap, but it's not ridiculous either.

ravenray

I say do it!  Making yourself better for any job is always a good thing.  You can pay back loans.  I know you feel bad about adding more debt but if it can land you a good job, it's totally worth it.  Sometimes the only way up is to go down first. 
GL

Ember01

I had a great job working in marketing, and had been with the company for about 4 years, when I called off my wedding in August of 2006. I knew I had to throw myself into something, but didn't know what. I decided in December to apply for a PhD program. I found out I got into the program in April. I decided to keep my old job and go down to part-time and accept an assistantship in the program. I started the program in August, 2007. By January, 2008, I was fed up with work, and quit, and decided to go to school full time. It was a difficult decision, because I KNEW I would have to take out loans to afford to live (we only get $12,000 in stipend for the year). I'm now ABD, and I know I made the best decision. It sucks to know that I'm racking up the student loans, but as my FI puts it, this is GOOD debt to have (and he is a financial advisor).

When I was trying to figure out my life plan, my mom told me I could be in school or not be in school, but either way the time was going to pass. And 4 years later, I look back at everything I've accomplished in school, and I'm very proud of myself. I say GO FOR IT!!

bsidebella

Well, I got the ball rolling. I applied for a position at Staples, which is one of my favorite stores. I stopped by in there today and talked to an assistant manager, asking if they're actually hiring and for what. He said they were, and we talked a bit and he said he would let his GM know that I was interested in the position.

Sooooooo hopefully this is the start of a new outlook for me. If I get financial aid/student loans for school, I can start saving money for when I start in mid-March and then work at nights and on weekends while I'm not in class.

I'm starting to feel like 100% better about this.

megandken

Ah, I thought this thread was going to be about masturbation.

As someone who has a load of education- some of it worth it, some of it not- I think PPs have a lot of really good points.  It should be something you and your SO decide together because the loan will affect both of you. 

My personal soapbox- not all educational costs are worth it.  Do the math. E.g., is going to the expensive private school really going to increase your earning potential enough to warrant an additional DECADE of loan payments?  Check out: http://www.moneyunder30.com/degree-worth-student-loan-debt or google it.  There are many useful tools out there to help you make a decision.

That said, 12k is not a super-huge deal if it really helps you land the job of your dreams.

bsidebella

It's not an expensive private school. It's an 8-week program at a vocational school. It will give me the skills to be an asset in my field. I don't know how to edit audio, I don't know how to produce a show, I don't know how to run a TV switchboard, etc. Basically, it's all the classes I should have taken in college but I didn't know any better.

mellimel19

bside, I'm sure you're both concerned about the added student loans, but really this sounds like a wonderful opportunity to help you better yourself for the long run. Definitely sounds like its worth the money to me!

megandken

Bside- I didn't mean you specifically.  Just in general, a generic-type quesiton that's good to ask.
Like I said for you in particular, if you believe it will catapult your carreer, 12k and a couple of months is not that big of a deal in the long run.  I'd worry a lot more if it were 12k every semester for 3 years.  Just make sure to do the math.  My bet is the math will actually make you feel better about taking the course.