Paying for Graduate School (Halfway through)

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te5486a
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Joined: Sun Feb 28, 2010 10:33 pm

Paying for Graduate School (Halfway through)

Post by te5486a » Sat Jul 30, 2011 4:48 pm

For the last 2 and a half years I have been enrolled in Georgetown's Master in Professional Studies Real Estate Program and I have completed five of the ten classes.

I have been on a part-time basis since I work full-time for the federal government. They have been generous enough to pay for one work related class (I also work in real estate). I recently learned that due to fiscal constraints they have no funding to pay for the tuition (about $2,500 per class).

With that said, I go back and forth with how I feel about the program. The classes I have taken have not been all that rigorous and it's a lot of my own money to spend. WIth that said, I think it looks bad not to finish something I have started (especially when half of it was paid for by my employer). It is also a great networking opportunity and has a lot of potential for professional opportunities.

I do not have the cash on hand to pay for the class on my own this semester.

I was thinking I have a couple of options:

1) Save during the fall and take classes again in the Spring

2) Study/take the first part of te CFA exam ($1,000 - to stay busy) and hold off on classes until the Spring.

3) Use a 21 month 0% APR credit card and take the two classes etc.

4) Explore longer term student loan options (probably wouldn't kick in until Spring or Fall.

As for finances, I have a limited emergency fund (about 2 months), which I have been boosting. I have an investment portfolio including a Roth) with $50,000 and another $16,000 in collectible gold coins (bought years ago before this gold bug).

I'm leaning towards boosting the emergency fund and then proceeding with either 1, 2, or 4. I hate credit card debt.

Any advice would be appreciated!

relentless
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Post by relentless » Sat Jul 30, 2011 8:01 pm

So only 12.5K more to get masters degree from Georgetown? I think I would cut down on expenses and sell some gold coins and keep going to finish degree personally.

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gunn_show
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Post by gunn_show » Sun Jul 31, 2011 9:09 pm

relentless wrote:So only 12.5K more to get masters degree from Georgetown? I think I would cut down on expenses and sell some gold coins and keep going to finish degree personally.
Agree. The name brand Masters and networking will be worth it.

Gold coins or the 21 month credit card. Save $xx per month in a 1.3% savings account or something and then pay off the CC in 21 months before you have to pay fees. Or just fill out a FAFSA and get student loans. That will not be a big loan even if you take the full 12k.

Final note - if you don't like it and don't truly feel the value, then just stop going. Bill Gates stopped going to school and it worked out OK. So have many others. I would not continue going "just because" ... do you continue dating a girl you dislike "because you feel bad dumping her?" No.
"The best life hack of all is to just put the work in and never give up." Bas Rutten

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market timer
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Post by market timer » Sun Jul 31, 2011 9:16 pm

As a result of tonight's debt ceiling announcement, Georgetown's tuition went up 1%, measured in gold.

usnaron
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Post by usnaron » Mon Aug 01, 2011 6:24 pm

relentless wrote:So only 12.5K more to get masters degree from Georgetown? I think I would cut down on expenses and sell some gold coins and keep going to finish degree personally.
+1...you could probably save 1k per month by just looking at your budget and shopping smarter.

That degree will get your foot in the door and give you a lot of future opportunites...especially since DC has the best real estate market in the country (thanks to tax payer dollars funding all the jobs).

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