Should I quit my job to finish my degree?

Question

I am a 27 year old male. I have been working full time for a nonprofit making $33k a year. I am also half way to getting my bachelors. During the past couple of years I have been going part time to school which has worked out ok. I am getting to the point now where it is becoming more and more difficult to get classes that work with my schedule. So I am considering quitting my job at the end of this year so I can give my all to finishing school. Financially, I have $30k in savings, my billls are very low. . I also make a few hundred bucks a month selling on ebay on the side which pays my bills and allows me to not use any of my savings, I don't pay rent cause I do snow removal and grass cutting for my building. My job would not allow me to go to part time. I am a very smart person but in the past have made some bad choices when it comes to school work etc. I am going for a degree in finance & accounting. What should I do?

Answer 1

Can you take a leave of absence from the job? Or do you even want to return there?

I say, quit and finish school. Sounds like you are prepared to do it and I venture to say you will not be sorry.

The degree is very important and you need to focus on it.
One class at a time.

Answer 2

I'm somewhat in the same boat as you. I'm 22 and just started taking classes last year. I have different views on it. For starters you have to ask yourself will it pay off? Honestly, many many college grads are still making 30K or less decades after they graduate. The competition continues to rise as now everyone is going to college and getting a degree. It's not such a big deal like it once was. Even Bachelors are becoming obsolete. It seems like to get the great jobs everyone talks of you must continue your education and get an MBA, PHD etc. Also, it seems to me that it is more and more clear that personalities and connections that you make are more important than schooling. Sometimes determination is a better trait than education.
You will be taking a major paycut obviously and not be able to contribute more to your savings(2-3 years). Not to mention you will be paying for the education. It doesn't appear like you're in a financial hole, but you obviously know as a finance major what an extra 15-20 K in savings can add up as in the long run.

Now, will it be satisfying for you to complete your degree and become a college graduate? If this is the case, then going back to school full time is the best case for you. Do you dream of working a particular job where your degree will be an advantage? If you do then going back to school would be the right move again. You will have the upper hand against applicants who have equal skills but lacks your education, However that doesn't mean you will be hired.

What I'm trying to say is that if going back to school is for self gratification, then it would be a good move. However, if it is just in hopes of having a higher income, perhaps you should think twice. It's looked at as ubsurd to reccomend not going to college or finishing nowadays. Especially from another student, but in all actuality I personally don't believe it as important as people say. You know, I enrolled in college as a 18year old and the first thing that was said at the schools orientation was that college graduates on average will make $1 million more than non graduates. I thought about that statement all day and decided not to go to school. The way I saw it was I could save and make $75 K roughly during the 4 years I would be at school and I would also not be spending $100 K in student loans. Therefore I'm already up $175 K, not bad for someone who didn't attend college. However even better if I invested the $75 K into something that got a 12 % annual return in thirty years I could be considering retirement with $2.4 million from the original $75 K. Unfortuantly,my plan faultered and I wound up in college.

The choice is up to you, but I think you have to look at both sides of the matter. I hope my post, no matter how outlandish, gave you the other side.

Answer 3

I understand your dillemma. Have you considered online universities that are flexible and would still allow you to keep working full time? I am currently attending Kaplan University online and I'm pretty pleased with it. I had about a full-time's year worth of credits from a traditional university before I transfered, and all of them transfered. I already got an Associates in Acccounting there and am currently pursuing Finance. They also have a physical campus, so it's not some sort of phony college. If you're interested, look into reputable online colleges. Make sure to check if they're accredited and if the credits you earn are recognized in your state. By the way, if you don't mind telling me - how do you earn a profit from Ebay? I have been wanting to start selling there as well, but I'm not sure what to sell and what there is a market for out there. If you can send me an email or otherwise let me know, I'd appreciate it. Good luck with your situation. If you don't want to transfer colleges and like the one you're in, then I'd have to say finish your degree and quit your job, because in the long run, that degree will be much more valuable to you than remaining on a job with no prospects.

Answer 4

Sounds like you are financially OK to make the school commitment. I know your predicament; I finished my bachelors while working full time (with two small kids). I had no choice but to keep my job, and it was a very difficult year.

If you feel you can re-enter the work place after a year off, go for it. If you could find something relating to your career to work at least part time, that would be a benefit. It would keep your resume fresh and could even lead to a full time job once you complete your degree requirements.

Good luck. (a little never hurts, even when you have a good plan)

Answer 5

man TAKE IT FROM SOMEONE WHO WENT THROUGH THE SAME SITUATION!!!


well almost the same.... im telling you Leave your job now...

I dont know what other signs you need to do it... (if your spiritual or not) You have very little to pay plus a place to stay PLUS savings?!!?!? what are you contemplating about?

I am also a smart guy too (high IQ) but ive lived in government housing and have been in more debt than you can imagine, and also coming form that situation i have not made the right choices, but over time ive realized what was right and my potential.... now im doing a double degree with two universities (one being the top university in canada 13 out of the last 15 years)

DONT BLoW THIS chance!.... you might regret it forever... accountants make alot of money and live way more comfortably... ALSO you would feel way better about yourself that you took that choice

not even 90% of the ppl in the world have money, a place to stay or even a chance to attend school, take advantage of it and help the world out with the skills you learn

Answer 6

I say go for it. I'm all for those who want to get or finish their education. Seems like you have a decent situation, financially. But if you fully commit yourself to your schooling my advice, don't screw around. By finalizing your degree you can command more money than what you make now. It seems you have received experience in the area of work. Hopefully in relation to your degree. Get the degree, the longer you wait the harder it will be to complete.

I had to take time off from work to finish my degree. As long as you have cash stashed away, and play it smart you'll be done in no time and have a higher paying job.

Answer 7

Have you considered getting your degree on-line?

Many folks are ion the process of doing it. How many credits an on-line school will accept from a "sticks and bricks" college AND vice versa is another matter.

Thanks for asking your Q! I hoped I helped.

VTY,
Ron Berue
Yes, that is my real last name!!

Answer 8

if you are as smart as you sound you should go back to school and finish it. it will be harder if you wait too long.
If you stay in your full time job you will stay at $33k forever.
With your degree in hand you can do much much more.
Keep trying!!!

Answer 9

focus on your degree for now. As a CPA or as a banker you can make much more than what you're making now.
Good luck!