How does one afford to be a full-time grad student?

[Deni81]

I am asking myself this question. If I don't a TA position, I might not be able to leave FL for graduate school. Anyone go to grad school full-time?

[Jersey_Steve]

http://www.quarterlifecrisis.com/forums/showthread.php?t=23491

I asked the same question, and here's the thread. There's some good information there if you need it.

[WorkInProgress]

One of my friends is doing it by waiting tables, being poor, and living simply while going to grad school full time (paying her hefty tuition with student loans).

I don't know if I could/would do it full time.

[winneythepooh7]

I couldn't afford to go to grad school and not work. I was able to work a really flexible job, and one that allowed me to use work towards my field placement my final year, which really helped. I know people who go to grad school in NYC without working and it's because they live on loans and their parents foot the rest. Then when they owe like $1000 a month minimum in student loans and only make like $40K a year they complain...........

[cheshrcarol]

I go to grad school full time. But I was laid off, which was actually a good thing, because I can collect unemployment. I also will have a lot in loans, and a family member who is willing to loan me whatever extra I need for living expenses.

I would suggest being really careful about student loans. It's really tempting to take out alternative loans so you can just go to school, but depending on what field you go into, you need to make sure that your income will justify the loan payments.

My suggestions would be to pick a school that's less expensive, unless the cache of the school warrants it. Personally, I am going to a really expensive school, and I'm gambling that the connections and status the school has will pay off. I'd also say live with roommates in a city that has good public transportation so you don't need a car.

[pisces2473]

http://www.quarterlifecrisis.com/forums/showthread.php?t=23491

I asked the same question, and here's the thread. There's some good information there if you need it.
YAAAAAYYYYY someone did a smart thing!

[pisces2473]

I was a full time grad student for a semester, where I was an out of state student at a state university. I was a TA with full tuition and a small stipend, lived in an apartment with 2 roomies (my rent was $325/month), and worked a very part time job at a bookstore. I worked really hard over the summers in college, didn't drink my money away, didn't take a vacation, etc...so all the money I earned then went to my other living expenses.

[yankeeyosh]

Well, I was lucky...I had a rather high stipend for a grad student (17-18K/year), got most of my fees/tuition waived, and lived in a low COL city. It was definitely doable...not "extravagant", but if you are OK with living without luxuries for a couple of years, it wasn't bad. Problem is, the "good" stipends are generally reserved only for the sciences.

[yankeeyosh]

I was a full time grad student for a semester, where I was an out of state student at a state university. I was a TA with full tuition and a small stipend, lived in an apartment with 2 roomies (my rent was $325/month), and worked a very part time job at a bookstore. I worked really hard over the summers in college, didn't drink my money away, didn't take a vacation, etc...so all the money I earned then went to my other living expenses.

*sigh* I live one town over from where you lived, and pay about three and a half times what you do. 'Course, I live with no roommates, and I'm in a "yuppie" apartment building.

Three more rent payments to go...just three.

[Orca]

Well, I was lucky...I had a rather high stipend for a grad student (17-18K/year), got most of my fees/tuition waived, and lived in a low COL city. It was definitely doable...not "extravagant", but if you are OK with living without luxuries for a couple of years, it wasn't bad. Problem is, the "good" stipends are generally reserved only for the sciences.

Me too. Study science and you get paid to do it.

[pisces2473]

Ha, yeah...I think my stipend was $75/week.

[CTGirl]

When I was a full-time grad student, I worked a part-time assistantship at the university that paid half my tuition plus $7 an hour, and then I worked a part time job that paid $12 an hour at the same time (on the same day too, which was rough).

I also had student loans for grad school, and after they took out the amount needed for my tuition, I'd get about $3,000 3 times a year from what was left over. I was living off of about $20,000 a year for 2 years, and it was rough, but somehow I made it, keeping my expenses really low.

[CityGal]

To the OP, I am struggling with something similar. Hopefully I will be a grad student soon but I am very scared that I won't be able to survive without a job. I was thinking about possibly waiting tables but I am planning to go to school in another country and unless I get a work visa it looks like I will have to do off the books jobs. Also, I am a bit scared that once I do go to school, quit my job, and move back home after school I won't be able to survive or get back to where I left off. Anyone have any suggestions on how to get back on track after grad school and not working?

[CityGal]

When I was a full-time grad student, I worked a part-time assistantship at the university that paid half my tuition plus $7 an hour, and then I worked a part time job that paid $12 an hour at the same time (on the same day too, which was rough).

I also had student loans for grad school, and after they took out the amount needed for my tuition, I'd get about $3,000 3 times a year from what was left over. I was living off of about $20,000 a year for 2 years, and it was rough, but somehow I made it, keeping my expenses really low.

Were you able to concentrate in school and keep your grads up?

[Deni81]

To the OP, I am struggling with something similar. Hopefully I will be a grad student soon but I am very scared that I won't be able to survive without a job. I was thinking about possibly waiting tables but I am planning to go to school in another country and unless I get a work visa it looks like I will have to do off the books jobs. Also, I am a bit scared that once I do go to school, quit my job, and move back home after school I won't be able to survive or get back to where I left off. Anyone have any suggestions on how to get back on track after grad school and not working?

I'm not against going to grad school part time and work full time. It's just that I am a teacher looking to go to school for guidance counseling and i wonder how i will balance my demanding job with the rigors of graduate work. I applied to an out of state school for two reasons: 1) I have been wanting to move to the Northeast region for years. 2) One of my cousins worked in admissions (and is an alumni) at this school, he still has connections at this place.

Luckily I have no debt from my undergrad years. I recieved a 75% Bright Futures scholarship (FL) and my parents paid the rest. So I am new to the world of loans.

[CTGirl]

Were you able to concentrate in school and keep your grads up?

Absolutely, graduated with a 4.0 - but then my MA program wasn't all that demanding, and so working two 3-hour shifts every day at companies 30 miles apart and then taking 3-hour classes 2 or 3 nights a week afterward and sometimes full days on the weekends wasn't all that rough. But then, it's prolly not for everyone, lol.

[winneythepooh7]

Were you able to concentrate in school and keep your grads up?

I did really well in grad school. I think my final average was like a 3.88. In any event, it was hard managing work, classes, papers, readings as well as a social life. Your heart has to be in it. I also think you need to have a really supportive employer, preferably someone who has been where you are so they can understand.

[Millenial]

I couldn't afford to go to grad school and not work. I was able to work a really flexible job, and one that allowed me to use work towards my field placement my final year, which really helped. I know people who go to grad school in NYC without working and it's because they live on loans and their parents foot the rest. Then when they owe like $1000 a month minimum in student loans and only make like $40K a year they complain...........
I just narrowly avoided that situation by dropping out and finding a job that would help pay to go part-time at a local state college. i had a lot of debt from undergrad and didn't find grad school that didn't give me financial aid or a stipend all the enticing.

[dr.cate]

Many service fields also have loan reimbursement programs after you graduate - you may have to work in a rural or underserved area for a few years, but usually they will pay back a hefty amount of the balance (e.g. $25,000/yr for 2 years and $30,000 the 3rd year, in addition to salary). So, if you don't get an assistantship, you may be able to take out the loans and then use this strategy to pay them back after you graduate.

[Millenial]

teachers and social workers can get this on federal loans, unfortunately that doesn't help if all you can get is private loans.