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Debt and Education. Worth it?
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Will you ever get back into debt for more education?
Yes, I don't mind because I'm investing in my future
48%
 48%  [ 23 ]
Although I have never lived better than in Korea, it would be difficult yet do-able
10%
 10%  [ 5 ]
Only for a Masters in TESOL because ESL in Korea is my dream kind of job
4%
 4%  [ 2 ]
Only for a PHd in my original field
14%
 14%  [ 7 ]
I'm done with school. I just want to stay here and live like a king
10%
 10%  [ 5 ]
Been there, done that
10%
 10%  [ 5 ]
Total Votes : 47

Author Message
teachteach



Joined: 26 Mar 2008

PostPosted: Sat Apr 05, 2008 9:24 am    Post subject: Debt and Education. Worth it? Reply with quote

Simple question. I am sure most of us on this board are holding down or have held down student loans that seem to never get paid off.
I was inspired to ask this question after a friend of mine, who already had 60k in student loan debt, taught in korea for one year, then said 'you know, with a bachelors I won't get too far past this kind of work.' Although she had her BA in literature, her deep dream was always law. So, she went back to the US, got another 100k debt for law school (Georgetown), and now is getting more job offers for law offices than she can shake a stick at.
Another friend of mine (Canadian) finished a few years in Korea, and although he had a BEd, decided to get another BSc in computer engineering, which was always what he wanted to do but felt be couldn't do when he was younger. Again, another 50k of student loans. But he doesn't mind.
So, I was wondering how many of you would be willing, between the ages of 25-40, to go back to school and get more debt to follow a different career path.
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bogey666



Joined: 17 Mar 2008
Location: Korea, the ass free zone

PostPosted: Sat Apr 05, 2008 10:57 am    Post subject: Re: Debt and Education. Worth it? Reply with quote

teachteach wrote:
Simple question. I am sure most of us on this board are holding down or have held down student loans that seem to never get paid off.
I was inspired to ask this question after a friend of mine, who already had 60k in student loan debt, taught in korea for one year, then said 'you know, with a bachelors I won't get too far past this kind of work.' Although she had her BA in literature, her deep dream was always law. So, she went back to the US, got another 100k debt for law school (Georgetown), and now is getting more job offers for law offices than she can shake a stick at.
Another friend of mine (Canadian) finished a few years in Korea, and although he had a BEd, decided to get another BSc in computer engineering, which was always what he wanted to do but felt be couldn't do when he was younger. Again, another 50k of student loans. But he doesn't mind.
So, I was wondering how many of you would be willing, between the ages of 25-40, to go back to school and get more debt to follow a different career path.


this really depends.

for e.g. getting an MBA is only worthwhile (and I've been told this by many people) if you get it from one of the top MBA programs which are not only extremely difficult to get into, but also extremely pricey.

ditto for law school, frankly.

AND - if you're hell bent on a "career" in one of such fields, you'll be working 60 hour+ weeks, doing monkey work for at least the first several years as you kiss ass and progress up the corporate ladder.

I decided that's not for me. NOT interested. Not going to be doing more than 40 hour workweeks in US no matter how much you pay me, along with the trivial 2 week yearly vacation.. and annoying commuting to work.


should I go back to school (and i probably will), I will look for the CHEAPEST school out there.. and not care how it is "ranked", but will try to get straight A's. But I won't be going to back school to rejoin the corporate rat race.

Nope.. if anything.. a Master's in Education, take the time to get myself certified then off around the world teaching in International Schools.

or if I merely wanted to get back to US and work, but not TOO hard..
I'd go to the cheapest law school, get top grades and then work in the public sector (state's attorney, etc)

OR, better yet.

go and get licensed and certified as a pharmacist. (yes, you have to go to a special graduate program for this) More geezers each and every year - need more drugs.. fairly easy, low stress work and you make close to 6 figures.


btw.. as a GENERAL answer to your question, the cost of education in the US has gotten SO preposterous, I seriously question how "worthwhile" the investment is these days. Of course, it all depends on what you want out of your life.
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Vince



Joined: 05 May 2003

PostPosted: Sat Apr 05, 2008 12:07 pm    Post subject: Reply with quote

I used to be hell-bent on a PhD and didn't consider the cost a factor. Then I got married, had a son, and moved back the US. That influenced my thinking a lot. If I had to pay out of pocket, I'd probably give up on it. But I'm not one to give up when there are options, and the option that appealed to me was getting a job at a university and doing my grad work via tuition remission. I got that job and am getting ready to start grad school.
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blaseblasphemener



Joined: 01 Jun 2006
Location: There's a voice, keeps on calling me, down the road, that's where I'll always be

PostPosted: Sat Apr 05, 2008 3:23 pm    Post subject: Reply with quote

I think you're missing a choice.

I can get a Masters without getting into debt. I have the money in the bank.
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teachteach



Joined: 26 Mar 2008

PostPosted: Sat Apr 05, 2008 4:35 pm    Post subject: Reply with quote

Some esl teachers have expressed that if they knew their best option was esl in korea they would have forgone university all together.
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TheUrbanMyth



Joined: 28 Jan 2003
Location: Retired

PostPosted: Sat Apr 05, 2008 5:11 pm    Post subject: Reply with quote

teachteach wrote:
Some esl teachers have expressed that if they knew their best option was esl in korea they would have forgone university all together.


Then they wouldn't have been able to get an E-2 visa in the first place.
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Miles Rationis



Joined: 08 May 2007
Location: Just Say No To Korea!

PostPosted: Sat Apr 05, 2008 6:09 pm    Post subject: Re: Debt and Education. Worth it? Reply with quote

teachteach wrote:
Simple question. I am sure most of us on this board are holding down or have held down student loans that seem to never get paid off.
I was inspired to ask this question after a friend of mine, who already had 60k in student loan debt, taught in korea for one year, then said 'you know, with a bachelors I won't get too far past this kind of work.' Although she had her BA in literature, her deep dream was always law. So, she went back to the US, got another 100k debt for law school (Georgetown), and now is getting more job offers for law offices than she can shake a stick at.
Another friend of mine (Canadian) finished a few years in Korea, and although he had a BEd, decided to get another BSc in computer engineering, which was always what he wanted to do but felt be couldn't do when he was younger. Again, another 50k of student loans. But he doesn't mind.
So, I was wondering how many of you would be willing, between the ages of 25-40, to go back to school and get more debt to follow a different career path.


I have no debt now. I have enough ( I believe) so as not to incur debt for my masters and yes for my PhD, assuming it were a top uni and programme I would...
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tzechuk



Joined: 20 Dec 2004

PostPosted: Sat Apr 05, 2008 6:14 pm    Post subject: Reply with quote

I voted for only a PhD because that's all I've got left to do.. unless I want to do another MBA, which actually sounds tempting, especially after reading a special report on what they are offering now in Europe... so interesting.

IF I decide to stay in Education, I will do a PhD, but otherwise, I am going to invest in my daughter's education instead.
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Cheonmunka



Joined: 04 Jun 2004

PostPosted: Sat Apr 05, 2008 6:15 pm    Post subject: Reply with quote

I got the NZ teaching diploma taking my family to NZ (homeland^_^) where we stayed for one year. (Intentions were to stay longer but income didn't cut it when it comes to raising a young family.) I figure it cost about 40k all up to do the qual. The sojourn and the study was worth it in many ways for me and my family. For the most part, I finally got into a job here where I could use that ed. qual. to command a higher determination of salary.
Later, on return to NZ, I can walk straight into employment. That is an important aspect of it.


Last edited by Cheonmunka on Sat Apr 05, 2008 6:20 pm; edited 1 time in total
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Miles Rationis



Joined: 08 May 2007
Location: Just Say No To Korea!

PostPosted: Sat Apr 05, 2008 6:18 pm    Post subject: Reply with quote

tzechuk wrote:
I voted for only a PhD because that's all I've got left to do.. unless I want to do another MBA, which actually sounds tempting, especially after reading a special report on what they are offering now in Europe... so interesting.

IF I decide to stay in Education, I will do a PhD, but otherwise, I am going to invest in my daughter's education instead.


You are Korean?
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Yaya



Joined: 25 Feb 2003
Location: Seoul

PostPosted: Sat Apr 05, 2008 6:28 pm    Post subject: Reply with quote

I've pondered graduate school for the past decade. It's a big step, and at age 38, I'm not sure if I want to do it. I've even considered doing grad school in Britain (despite the fact that I cannot stand the people, but I digress) because you don't have to go through the hassle of the GRE or other entrance test, and it's usually shorter than a U.S. grad school.

I guess having an advanced degree from a good school can only help you, but it also depends on your age. For a career change, yes, but I see many people doing fine WITHOUT a master's or Ph.D and in Korea, many with advanced degrees are often the most underemployed in the country.
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Miles Rationis



Joined: 08 May 2007
Location: Just Say No To Korea!

PostPosted: Sat Apr 05, 2008 6:51 pm    Post subject: Reply with quote

Yaya wrote:
I've pondered graduate school for the past decade. It's a big step, and at age 38, I'm not sure if I want to do it. I've even considered doing grad school in Britain (despite the fact that I cannot stand the people, but I digress) because you don't have to go through the hassle of the GRE or other entrance test, and it's usually shorter than a U.S. grad school.

I guess having an advanced degree from a good school can only help you, but it also depends on your age. For a career change, yes, but I see many people doing fine WITHOUT a master's or Ph.D and in Korea, many with advanced degrees are often the most underemployed in the country.


Talk about tunnel vision; the whole idea of an advanced degree is to give you MORE options than the 'I am an English speaker with a pulse' one offered to you by Korea.
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Yaya



Joined: 25 Feb 2003
Location: Seoul

PostPosted: Sat Apr 05, 2008 6:55 pm    Post subject: Reply with quote

Uh, perhaps YOU are the one with tunnel vision. Getting an advanced degree is fine, but many who have them end up doing something unrelated to their major and such, and this ain't just the case in Korea.

I don't disagree that having a master's or Ph.D gives one more options, but oftentimes, the expectation is higher than the reality.
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Miles Rationis



Joined: 08 May 2007
Location: Just Say No To Korea!

PostPosted: Sat Apr 05, 2008 7:02 pm    Post subject: Reply with quote

Yaya wrote:
Uh, perhaps YOU are the one with tunnel vision. Getting an advanced degree is fine, but many who have them end up doing something unrelated to their major and such, and this ain't just the case in Korea.

I don't disagree that having a master's or Ph.D gives one more options, but oftentimes, the expectation is higher than the reality.


If you want to work in Academia, then you MUST...I wish to work in a real university environment, thus my desire for a Ph.D.
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Yaya



Joined: 25 Feb 2003
Location: Seoul

PostPosted: Sat Apr 05, 2008 7:04 pm    Post subject: Reply with quote

Miles Rationis wrote:
Yaya wrote:
Uh, perhaps YOU are the one with tunnel vision. Getting an advanced degree is fine, but many who have them end up doing something unrelated to their major and such, and this ain't just the case in Korea.

I don't disagree that having a master's or Ph.D gives one more options, but oftentimes, the expectation is higher than the reality.


If you want to work in Academia, then you MUST...I wish to work in a real university environment, thus my desire for a Ph.D.


No duh, you need an advanced degree to get into academia, but that's not what everyone wants from grad school.

Another reason NOT to go to grad school is if you don't know what to do with your life.
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