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masters + loan, year out+ save

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  • 23-06-2011 12:02am
    #1
    rebecca1988
    Registered Users Posts: 46 ✭


    got accepted for UCD masters,

    masters with a loan

    year out and save

    any thoughts???


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    #2
    triseke
    Registered Users Posts: 875 ✭✭✭triseke


    I had the same conundrum two years ago.

    I chose to go ahead with the Masters and take the loan out. In the end, Im glad i did. It means that Im now done with college and can apply to my chosen field of work. Several people in my class had done the other option, and they often spoke about how hard it was to go from earning money, ie saving, and having a bit of extra cash, to basically earning sweet f all.

    Its up to you, ultimately, but thats just my two cents.


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    #3
    Raphael
    Closed Accounts Posts: 8,880 ✭✭✭Raphael


    Also, having done the whole year out and back to college thing, it's really hard to get back into the swing of it.


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    #4
    parker kent
    Closed Accounts Posts: 8,289 ✭✭✭parker kent


    Having done the loan approach, I'd much rather have worked for the year and now be debt free.


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    #5
    An Cuinneach
    Registered Users Posts: 110 ✭✭An Cuinneach


    Can I ask what Masters it is? I've been waiting to here back. My department said they'd be getting back to people last week but I still haven't heard anything :(


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    #6
    Souless
    Registered Users Posts: 595 ✭✭✭Souless


    Currently finishing up my Masters and I'm glad that I took the loan out at the moment. I really could not have imagined myself going from earning money to being totally broke again, plus getting back into the swing of assignments, presentations and tons of reading following a year of doing nothing I'd imagine would be next to impossible.


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    #7
    parker kent
    Closed Accounts Posts: 8,289 ✭✭✭parker kent


    Souless wrote: »
    Currently finishing up my Masters and I'm glad that I took the loan out at the moment. I really could not have imagined myself going from earning money to being totally broke again, plus getting back into the swing of assignments, presentations and tons of reading following a year of doing nothing I'd imagine would be next to impossible.

    Going back after a year isn't that big of a deal. It's only a year, not like you spend four decades out of education. After a week it is like you never went away.

    I have done 2 masters. I worked for a year before one, had no financial worries and could live comfortably for a year. I then decided to further my knowledge and got a loan out. If I could actually go back, I wouldn't have done that.


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    #8
    Raphael
    Closed Accounts Posts: 8,880 ✭✭✭Raphael


    I didn't find that at all, tbh, I found it really hard to deal with college workload again. Took me about a semster to get back up to speed.


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    #9
    RandolphEsq
    Closed Accounts Posts: 6,296 ✭✭✭RandolphEsq


    Same boat here. Just got accepted to do an LLM, and only have a grand and a bit saved up. I want to do an Erasmus with my masters, and don't want to have to work during the masters so am going to take the year out to work and save up at least 12/13 grand to pay for fees and social expenses. Maybe take out a loan for the Erasmus if I need to.


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