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Graduate School- Student Loans

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  • Graduate School- Student Loans

    I have 35,000 in students loans with an combination of subsidized and unsubsidized loans. I had a part-time job, but now I'm currently unemployed. I'm in my second semester of Graduate School, which I took a 10,000 unsubsidized loan out.

    I'm considering maybe I should withdraw from the program after this semester. The reason I went was I couldn't find a job with my undergraduate degree. The Graduate program, I'm in starting pay is around 28,000-30,000. I feel this is the career I would like to be in; however, there are people in this field with only an associate degree. The reason I went is you would get a internship at the end of the program. But now, I don't think I want to that amount of loans. However, now that I got this amount of loans with no job. I was thinking about taking about 4,000 in loans for a community college program, that offers an internship; but in a different career field.

    I really want to pay this debt; but without a job I can't. I think maybe a career degree might help in the job area.

    If I continued in the graduate program I would have to take out another 10,000 unsubsidized loan,
    Do you all think I should withdraw?


  • #2
    Taking out a $10,000 loan for a job that only pays $30,000 a year (when you can probably get a job for that amount without the degree) doesn't make financial sense unless there is a huge upside iincrease in salary down the road...