Becoming Debt Free in 2009

January 6, 2009

Is it a good time to go back to school?

Filed under: Journey to Debt Freedom,School Loans — ambercouric @ 11:33 am
Tags: ,

Is it a good time to go back to school?  My husband and I have been thinking about this lately.  He wants a master’s degree and has wanted to go back to school for  a while.  It was just never a priority. 

Right now is not the greatest time to be looking for a job but I was thinking that staying put in a current job that is secure and getting the master’s would work out perfectly.  Hopefully in 2-3 years the economy should be bouncing back and more jobs should be available. 

Our plans have always been to move to Hilton Head Island and we plan to do that in 2012.   DH can transfer with his job but with a master’s degree he would have a few more options available.

We would plan to pay cash for the tuition which means we would be on BEANS AND RICE for at least three years.  Becoming debt free this year would make this a bit easier financially. 

So what do you think?  Is this a good time to go back to school?



  1. I think that if you ask yourself, “Is it a good time”, to anything, it never will be. If you look at your financials and you can squeeze it out and are ready to make that beans and rice committment – go for it. You and he would hate to look back in 20 years and regret that it was never the right time. I love Hilton Head, what a great place that would be to live!

    Comment by SimplyForties — January 6, 2009 @ 6:58 pm

  2. I think if you clear your debt and build up a good Savings/EF then you can make the decision. Now is not really the time if you can hold off on it.

    And I’d do more research into going back into school – do the numbers of income/year, expenses for the year, and 3 years as well as how much debt you may get into, if you can get a loan for that, and then what kind of jobs you can expect after graduation.

    Phew! 🙂

    THEN, if you’re ready to go, then do it

    Comment by Fabulously Broke — January 6, 2009 @ 7:47 pm

  3. No time like the present to go after your dreams.

    Comment by Over the Cubicle Wall — January 6, 2009 @ 8:29 pm

  4. There are a lot of variables so my answer would be – it depends. I think Mr M should go back to school right now, he’s not working or doing anything else. He also doesn’t have any college degree. In your hubby’s case, will the masters pay off in his career? Or is this something he wants to pursue for personal fulfillment? If you expect to make more money with further education, then any time is a great time. Personal fulfillment is a great reason to go back to school, but I’d demolish the debt first.

    Comment by Miss M — January 7, 2009 @ 4:08 pm

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