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All good questions!


I wonder how much the classes are, and if they end up costing you more or less dollars than the 7.75% interest would cost you.


My classes cost me about 13 dollars per credit. My highest bill for the semester was 300+ dollars. I work at a university and our cost is 10% of tuition credit hours. Per year cost is between 5 and 600 bucks. Interest cost last year on a 11K loan was 2600 dollars.

Then, I wonder how the comparison would look if you subtracted the value of your time attending classes, compared to the same number of hours spent at some small part-time job.

I take classes that only required in-class time--ballet, walking, health science class, drawing, pottery, etc. My requirements are 1. must fit my schedule, 2. can not have homework (although I fudge a little on this one) 3. must be interesting. The most time I have spent in class is 6-8 hours per week. After taxes, it's not worth it. Plus--my ballet classes help me achieve my fitness goal.

Then, I wonder how the comparison would look if you added back in some theoretical value of future earnings capacity based on the additional education. I suppose that would depend a lot on whether you are taking classes that bring you closer to a degree, or at least specifically increase your abilities re your career path, or if you are just taking Underwater Basket Weaving to get the hours.

I have a PhD. The only other professional degree I (sort of) am interested in obtaining is a JD and my school won't pay for those courses, so they have to wait until the loans are done.

:)

b
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