Work vs School (moving to Chicago) (Salem: 2013, student loans, how much)

[dfoush21]

Hey guys I plan to move to Chicago during the summer of 2013, but I'm torn between working two jobs or going to school and working one job. I currently have one part time job right now with a couple hundred saved up. If I go to school I will receive some money from finacial aid and loans, but if I work two jobs I can save up more and start school in the fall of 2013. I'm thinking I might not even be able to get a second job or if I do it my conflict with my first job. But if I go to school my mom is going to charge me an arm and a leg for gas money from school to work, to home. I also have to pay the water bill, so that leaves me little money to save up. What should I do?

[emathias]

Originally Posted by dfoush21

Hey guys I plan to move to Chicago during the summer of 2013, but I'm torn between working two jobs or going to school and working one job. I currently have one part time job right now with a couple hundred saved up. If I go to school I will receive some money from finacial aid and loans, but if I work two jobs I can save up more and start school in the fall of 2013. I'm thinking I might not even be able to get a second job or if I do it my conflict with my first job. But if I go to school my mom is going to charge me an arm and a leg for gas money from school to work, to home. I also have to pay the water bill, so that leaves me little money to save up. What should I do?

If you're moving, what does your mom have to do with gas money?

1) Where do you live now?
2) Do you have at least a lead on a second job?
3) Where will you live if you move to Chicago?
4) When would you start working this second job?
5) When are you considering starting school (only fall, 2013, or now or what)?
6) What would you study in school?
7) What do you hope to accomplish from school?
8) What kind of school is it?
9) What are the actual costs associated with each option, both in immediate net cash outflow, and long-term if there are loans involved in school?
10) How much does your current job pay? How much would a second job pay?
11) Conservatively, how much would you earn if you finished school?

[dfoush21]

Originally Posted by emathias

If you're moving, what does your mom have to do with gas money?

1) Where do you live now?
2) Do you have at least a lead on a second job?
3) Where will you live if you move to Chicago?
4) When would you start working this second job?
5) When are you considering starting school (only fall, 2013, or now or what)?
6) What would you study in school?
7) What do you hope to accomplish from school?
8) What kind of school is it?
9) What are the actual costs associated with each option, both in immediate net cash outflow, and long-term if there are loans involved in school?
10) How much does your current job pay? How much would a second job pay?
11) Conservatively, how much would you earn if you finished school?

I live on the outskirts of Winston Salem NC right now and everything is spread out.I have seasonal jobs lined up. target and macy's. I work at mcdonalds. I also have a contact in chicago that works at wal greens that is willing to help me out.
I would probablty room with a couple of students/roomates around pilsen, bridgeport, logan square, or any reasonable neighborhood I could find that is in close proximity to the school ( I know the closer I get to downtown the more expensive it is.I would like to start the job before january or in the month of january if they decide to keep me on after christmas has ended.
I want to attend harold washington city college to pursue engineering then switch over to U of I in champaign. I've never been to college so I have no clue of how much money I will receive from finacial aid and perkins loan, that is also based on parents income so I couldn't really put a number on it.
I'm getting $8.00 a week right now, minimum wage is lower here than up there, you guys start off at $8.25, a dollar more. But I never really pondered on how much I would make after I finished my degree.

[brianjb]

Originally Posted by dfoush21

I live on the outskirts of Winston Salem NC right now and everything is spread out.I have seasonal jobs lined up. target and macy's. I work at mcdonalds. I also have a contact in chicago that works at wal greens that is willing to help me out.
I would probablty room with a couple of students/roomates around pilsen, bridgeport, logan square, or any reasonable neighborhood I could find that is in close proximity to the school ( I know the closer I get to downtown the more expensive it is.I would like to start the job before january or in the month of january if they decide to keep me on after christmas has ended.
I want to attend harold washington city college to pursue engineering then switch over to U of I in champaign. I've never been to college so I have no clue of how much money I will receive from finacial aid and perkins loan, that is also based on parents income so I couldn't really put a number on it.
I'm getting $8.00 a week right now, minimum wage is lower here than up there, you guys start off at $8.25, a dollar more. But I never really pondered on how much I would make after I finished my degree.

You really need to determine how much you would earn after school, and don't go into too much debt to get the degree. I think the general rule of thumb is to not go into more student loan debt than you would make your first year. So if the starting salary is $40K, then don't go over $40K in loans. Ideally keep it a lot less than that. Remember they have to be paid off. Student loans are one thing that never go away. You can file bankruptcy, and they stay with you. You don't want a huge loan and be stuck paying on it for 20 years.

I have heard stories of people going $100K+ in debt to get a degree that only pays like $25K. At that income, they will be paying on it forever.