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Quit Part-time Work to focus on Grad School?

(14 Posts)
CoolToned Tue 01-Mar-16 10:34:36

My husband suggests I quit my part-time work as a medical receptionist to focus on grad school (Masters in Information Systems - from a completely different background).

We can afford it, but there will be no money for savings. Well, a little, but no more for play.

I think I need all the time I can devote to study, but it scares me not to have savings. However, if I finish the course in two years (I just started) I'd have an opportunity to earn a lot better.

What will you do?

CoolToned Tue 01-Mar-16 10:35:36

Also, I'm not eligible for any assistance from the government. And I'd need to pay tuition. However, my tuition is just 1/3 because the uni granted me a subsidy.

Cabrinha Tue 01-Mar-16 11:07:56

Are you in the US? I've never heard the term "grad school" in the UK.

When does your course start? If it hasn't started yet, can you increase your part time hours now and use that entirely to build up a buffer of savings? As you are planning to not work you must be able to manage on his salary alone, so you could throw everything you earn into savings.

I really wouldn't worry about having money for "play" when you're doing something that is a financial investment in the future. Play can be free anyway!

Just assess the risk: if you have no savings and he loses his job, what happens? If you have parents who would step in, the possibility for a lodger, live in an area where there are jobs... If you're yiung with no kids and there are two of you, the risks of no savings could be quite low.

If you're worried, defer your course for a year and banked full time wages for a year first.

Good luck with your course!

Joysmum Tue 01-Mar-16 11:13:17

See how you go. You may find you'll do well with combining both in your first year but benefit from quitting in your final year.

Also you could ask for a sabbatical when you do need time off and take any hours available during the holidays.

Seems a bit drastic just to quit without exploring other options first.

Cabrinha Tue 01-Mar-16 11:21:47

Good point from Joysmum - it's a bit drastic!
You're only working part time anyway, so why not just keep going and only stop/reduce if you do find it hard to fit in the study? And save all your earnings in the mean time.

Very very many students work - it's definitely do-able.

Joysmum Tue 01-Mar-16 11:27:26

I say it from experience. I went to uni as s mature student (no kids then though) and combined working 18-20 hours (depending on timetable and work changed my hours to fit in with my timetable changes each term) with home and got married in the hols (and took my economic textbooks on honeymoon!).

The final year was the killer though, I couldn't balance it all then and something had to give.

CoolToned Tue 01-Mar-16 11:33:37

I'm in Australia. No kids, but not so young anymore.

Cabrinha Tue 01-Mar-16 11:39:08

I did uni straight from school but was entirely self supporting, working full time + (7 days if I could get the OT) in the holidays and 20 (and sometimes extra shifts) in the week.
Needs must!

Cabrinha Tue 01-Mar-16 11:39:48

I used to be quite hmm at the kids who didn't work bleating about lack of time to do essays grin

Joysmum Tue 01-Mar-16 11:55:28

Me too grin

CoolToned Tue 01-Mar-16 21:30:06

How do you call graduate school in the UK?

Joysmum Tue 01-Mar-16 23:01:13

We have senior school to 16 years old. Then college till 18, then university.

CoolToned Tue 01-Mar-16 23:02:31

How do you call after uni? When you're doing Masters or PhD?

ephemeralfairy Wed 02-Mar-16 00:29:18

I'd advise you not to make any quick decisions. Give it a month or so and see if you can cope with the work/study balance. Defer for a year and save if you need to.

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