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Go for money or what you love?


NDSkinsguy

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I'm somewhat in a dilemma career-wise, and there are basically two roads I could follow. Both entail potentially taking out massive amounts of student loans, unfortunately. I could pursue an academic career teaching in a university (which I would love), but I'd probably only start out making 30-someK and struggle paying back my loans, at least initially. The other option, which would involve working in a hospital, would be tolerable to somewhat enjoyable, and would more than likely involve no financial hardship. For those in a similar situation or have made an analagous decision in the past, advice?

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Get the degree while you are still relatively young (25 according to your profile). You can always decide to go in a different direction later, but you can't turn back the clock. Going back to school in your 30's is possible, but probably more difficult and complex, especially if you have a family by then. Don't worry about the student loans. That's considered 'good debt' and you'll have plenty of time to pay them off and the interest rate will be manageable.

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Is there a point of no return by going down one of these roads? Like if you go one way, would the door be closed to going to the other at a later date?

Either way, go for the money. You may end up liking the job more than you think.

If you go down the road where you think you'll like the job more but will be making less, you may be selling yourself short if both jobs are equally enjoyable. Might as well make your money, right?

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Become a college professor and then default on your loans and declare bankruptcy. What are they gonna do, reposess your degree? I seriously doubt that...

Seriously though, do what you love. If you love money, go for the money. If you love teaching, go with that. It's not as hard as you're making it out to be.

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Become a college professor and then default on your loans and declare bankruptcy. What are they gonna do, reposess your degree? I seriously doubt that...

Seriously though, do what you love. If you love money, go for the money. If you love teaching, go with that. It's not as hard as you're making it out to be.

you cant claim bankruptcy on a student loan...:2cents:

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I'm somewhat in a dilemma career-wise, and there are basically two roads I could follow. Both entail potentially taking out massive amounts of student loans, unfortunately. I could pursue an academic career teaching in a university (which I would love), but I'd probably only start out making 30-someK and struggle paying back my loans, at least initially. The other option, which would involve working in a hospital, would be tolerable to somewhat enjoyable, and would more than likely involve no financial hardship. For those in a similar situation or have made an analagous decision in the past, advice?

I'd rather have some level of financial hardship then have to endure something I didn't enjoy. I see so many people lost miserable and don't understand why. Course, I take one look at them and realize that they overvalued money and chose a career that made them unhappy.

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Do what you will be happy doing.

I turned down a big paying job because I would hate life mon-fri. I refuse to be one of those people who gets up and goes to a job they hate everyday. Now maybe you can stand the big money job. In that case, its something to consider.

I often think about what it would be like if I had kept it (especially since now im currently on the job hunt) but I know I made the right decision.

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I could pursue an academic career teaching in a university (which I would love), but I'd probably only start out making 30-someK and struggle paying back my loans, at least initially. The other option, which would involve working in a hospital, would be tolerable to somewhat enjoyable, and would more than likely involve no financial hardship.

My wife and I chose to pay off our debts as fast as we could. We paid off all our student loans, credit cards, car notes, etc. about 6 years after graduation. In addition, we chose to live a fairly simple life. We have very few monetary commitments. And we keep a chunk in savings for emergencies or to buy our next car (used) without taking out a loan.

No debt and low monthly bills means that we rarely have to worry about money when making career decisions. Its a good way to live.

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Can you afford the debt, and can you live with the tight belt until you're out from under the debt?

If you can, go for wht you love. Ifv you do it right, you can make money, but the main trick is to not get so far under so that when you do turn the corner, it's not too late.

~Bang

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you cant claim bankruptcy on a student loan...:2cents:

Not entirely true http://bankruptcy.lawyers.com/Student-Loans-In-Bankruptcy.html

But almost impossible

Student loans are not dischargeable in bankruptcy unless you can show that your loan payment imposes an "undue hardship" on you, your family, and your dependents. Non-dischargeable debts are those debts that you cannot totally eliminate when you file for bankruptcy and will have to be paid by you.

It is almost impossible to show an undue hardship unless you are physically unable to work and the chances of your obtaining any type of gainful employment in the future are non-existent.

But to answer your question I was in kinda of the same boat did not want to pay for school so I went and became an electrician. Now I am part owner and project manager of a company and love that job. So just because you dont think you will like the one that pays the money you might be surprised. Also if you dont like the money you could still get the loans for school later and go back to school

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I'm somewhat in a dilemma career-wise, and there are basically two roads I could follow. Both entail potentially taking out massive amounts of student loans, unfortunately. I could pursue an academic career teaching in a university (which I would love), but I'd probably only start out making 30-someK and struggle paying back my loans, at least initially. The other option, which would involve working in a hospital, would be tolerable to somewhat enjoyable, and would more than likely involve no financial hardship. For those in a similar situation or have made an analagous decision in the past, advice?

I'd go for the hospital. You'll gain experience. You can always go back and teach.

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