tag:blogger.com,1999:blog-7211337035907100880.post6306784864834978699..comments2008-12-12T20:50:16.588-05:00Scott Blisshttp://www.blogger.com/profile/14903815819380750323scott@tepom.comBlogger2125tag:blogger.com,1999:blog-7211337035907100880.post-78185976136869971272008-12-12T20:50:00.000-05:002008-12-12T20:50:00.000-05:00Dude, I must vehemently disagree with many of your grad school comments. <BR/><BR/>You do not take into account the financial benefits of having the advanced degree and being able to defer payment on your undergrad loans, or the ability to get scholarships, grants, or payed positions.<BR/><BR/>First, in many fields, including mine of engineering, it can be easier to get into grad school at the end of undergrad. More importantly, it can be easier to get grant funding to pay for school, and easier to use your current faculty contacts to land an academic job that will pay for part of school.<BR/><BR/>Second, many people find it hard to work then go back to school. After working for a few years, they are in the swing of things and can't picture cutting off that paycheck and going back into or further into debt. This will make it less likely for them go get an advanced degree, and less likely for them to reap the financial benefits of an advanced degree.<BR/><BR/>Third, take your example of your friend that drove his student loan debt up by 40%. If you stop going to school and start paying your loan, you can no longer defer it. By going right into grad school, he was able to defer payments and (in some cases) interest until he had an advanced degree and the ability to make a higher salary. In many fields, that degree would bump his starting salary up by the same percentage that his loan amount went up. If he had waited, he would have been stuck making payments, making it even harder to pay for grad school - he would have had an additional large monthly bill while he was in school instead of working. I think he is better off and will probably pay off the loans earlier than if he had taken a few years off - due to the earlier increase in salary and deferment of payments.<BR/><BR/>There is one thing you did not address that makes me agree that working for a while is a GOOD idea. Many companies, particularly engineering ones, and many government institutions, will pay for all or part of your graduate studies, and pay you your salary or part of your salary while you are in school. That is definitely one of the best ways to go about grad school. I think THAT possibility is a better argument for taking time off than yours of chomping at the bit to start making payments.<BR/><BR/>Steve<BR/>www.iHateWheat.comStevehttp://www.blogger.com/profile/12065575676424093519noreply@blogger.comtag:blogger.com,1999:blog-7211337035907100880.post-55150063050934593442008-11-19T14:17:00.000-05:002008-11-19T14:17:00.000-05:00I say passing on your genes is way more important than having money! Kids trump everything, man! It's like dying with stuff--whoever has the most wins. I am looking forward to my starting lineup of nine little Petes and Marys, even if I'm broke!Anonymousnoreply@blogger.com