Would it be completely irresponsible of me to give up work and do a master's degree?

[WannabeMastersStudent]

If I actually get offered a place on one, of course.

I'm a single parent with a mortgage, and that's the thing that worries me most, the risk of not being able to pay the mortgage and making my children homeless.

But... I have savings that could cover all living costs for over a year (and that's budgeting for something going wrong like the boiler needing to be replaced) plus I have 7/8 months to save even more. My mortgage is very small and I have overpaid around 5 years worth so I could take a mortgage holiday if absolutely necessary. I would be able to take out a postgraduate loan that would cover tuition fees, study materials and anything extra, and that wouldn't need to be paid back until I was earning over 20K.

I would try to find a part time job while studying, but of course there's always the possibility that there's nothing suitable available or that no one will want to hire me. I would definitely do volunteer work, though, just to avoid a gap in my work history and hopefully gain extra experience and skills.

So the main risk that I don't find a job soon enough after graduating.

There's a slim possiblity that I could take a sabbatical from work but I don't think my employers would be too keen on the expense of having to recruit and train someone just for a year, especially as they'll probably guess that I'm doing an MA because I don't want to be working there. Also I probably wouldn't be able to take a part time job if I was on sabbatical from my main job, and I've read that employers don't have to take you back after a sabbatical anyway, so I still wouldn't have much security.

The more I look at the words I've written above, "making my children homeless" the more I realise what a bad idea this is...

But does anyone have any advice? Has anyone else done anything similar and with hindsight would you say it's a good or bad idea?

Thanks.

What would the masters be in? Would it be getting you into a new field or significantly increasing your employability?

It sounds like you've thought quite practically about things, but in your shoes I would look for a way to do the course P/T while employed. That is nearly always possible these days and you're always a more attractive prospect for new jobs if you're already employed.

I'd do it, while toh are in a position you can .

I had to drop our of my masters, a d wish I could finish it but I'm just not in a position to give up work

I'm doing a long distance Masters whilst working part-time. It is going to take 3 years to complete but I am working 30 hours a week so have money coming in too.

Would that be possible with your particular field?

What is the masters? If it will improve your prospects and (even better) will lead into employment pretty quickly, I think you should definitely do it. You’re fortunate to have savings and a contingency if anything cropped up.

If it’s for interest only or in something obscure like the History of Lentils 1980-1986 I personally wouldn’t want to risk it.

Is there any way you could do it part time while working?

Will it definitely make you more employable?

It's not a subject that would improve my employability that much.

I could do it part time online, but I prefer face to face interaction.

I'm being irresponsible aren't I?

I'll have a look into online courses more and think about it.

Thanks for your replies.

Do it

Daft if you don't

Good luck xx

I'm doing my BSc. I picked one in a shortage profession. I won't do a masters unless I get a significant return on my investment.

Unless it's going to significantly increase your earning potential I wouldn't.

It seems more like a vanity project than a career move.

Depending on where you live you might be able to do it part time but still with face to face interaction.

I have to say I wouldn’t personally take this kind of risk as a single parent if it’s not really going to make you more employable.

If it won't improve your employability why do it? What if you don't get a job at the end? How long will your savings last?

All due respect, but as much as I love and support learning for the sake of learning, I think you'd be barking to quit work to pursue a master's that doesn't really improve your employability as a sole parent. To study FT principally for pleasure is a huge luxury I don't think you can afford.

I would look into PT courses that have some f2f interaction.

I'm in the middle of a science master's at the moment, full time study. I would say go for it, although it is bloody hard work. So what if it doesn't improve your employability that much, although I would say that it will give you some transferable skills if nothing else.

I don't have kids but I am on sabbatical from work. I have no intention of going back to that job, so I will be starting the jobhunt in the spring. What I would say is don't underestimate how much time you will need to give to all the reading that's involved. It's much more intense than an undergrad and in my case there were some timetabling issues that meant I had to do extra modules in the first semester - there was no way I could have worked part time as well.

Worth thinking about doing it part-time - my employer was happy to offer this but as the course was far from home I decided to go for the full year. That said, the part-timers on my course have found the workload pretty strenuous.

Also: no reason why you can't work while on sabbatical.

You're right about your employers not having to take you back; I had it in writing that my role would still be open for me when I came back but there's still every chance of redundancy etc.

Whilst it is great you have savings, are well set up with your mortgage and have thought carefully about this, I would want to look more closely at PT options before dropping work for a year and exhausting those savings.

I am also a big supporter of studying for interest, not just employability, but would look for a way to study and work (in your field) even if it meant working part time. That's not to say don't pursue your studies FT if there's no other way, but do your research first.

You could maybe use your savings to take unpaid leave around exam or dissertation time and hopefully have some left by the end.

I haven't read the full thread, but I have recently done what you are considering doing.

Some days I really regret it and wish I had stayed in my former position as the money was very good even if I was working with a few miserable and misery-making people. Scrimping is stressful, especially after being used to a comfortable life.

Other days I trust that all will work out and I just enjoy my studies and do not think about all the travelling and experiences I would love to indulge in.

I would find a secure part-time job before quitting and starting to make sure you have some income coming in.
Failing that, if you do quit your FT job, make sure you have a really big cushion for emergencies and little indulgences.

Is the MA in a field that is in demand? Are you really excited about your studies?

I wish you all the best!

Thanks for all your replies.

I don't know where I got the idea you couldn't work elsewhere while on sabbatical, Notsogoodhousekeeping, but it's good to know that's an option after all.

I've decided to apply to two full time on campus courses, two part time online with summer school and other in person contact, and two part time fully online courses and decide which one would be best when, and if, I get offered any places.

It probably would be best not to give up work. I just really don't like my job anymore and want a definite plan to leave and really want to study this subject too.

The best option is probably getting a new job and studying part time, so I'm going to start looking and applying for new jobs too.

I'm doing a master's part time, over 3yrs. I work part times too. Probably could be done around full time hours too if you're not lazy like me. Seems like you're really not enjoying your job though and maybe looking for a way out, so I'd address that first. Maybe part time work and study if you're careful with money.