I probably have about 24,000 out in subsidized and unsubsidized loans. I know want to just start over and go to a technical school for 23 months and get a license for radiology technology. Do you think there will be enough left for me to pay for the program and live off of? I am a single mom. Not sure if that matters as far as the amount I can borrow ultimately.
2007-12-02 02:38:53 · 2 answers · asked by Toni E 1 in Education & Reference ➔ Higher Education (University +)
What you need to look at is the difference in salary between a radiology tech and the jobs you can get now. Consider that over the time remaining of your career (so let's say that you are currently earning $20,000/year and you could earn $30,000 as a tech, and you would graduate at 25 and have another 40 years left to work). That would mean that your lifetime earnings would be increased by approximately $400,000 (40x$10,000). And let's say that two years of education to be a radiology tech would cost, at the most, $10,000/year. You would be investing $20,000, plus the cost of interest, so let's say another $10,000, to gain $400,000. I would say that would be worthwhile.
That becomes less worthwhile, of course, the less the difference between what you are doing now and what you could earn as a radiation tech (if you were currently earning $29,000 and it would increase your salary by only $1,000/year it might not be worth your while) or the shorter the period of time you expect to work. If you were thinking of only working for two or three years, then getting married and quitting to raise a family, it might not be worth it.
2007-12-02 03:08:17 · answer #1 · answered by neniaf 7 · 0⤊ 0⤋
Education is quite expensive,so is ignorance.
2007-12-02 10:42:45 · answer #2 · answered by thresher 7 · 0⤊ 0⤋