My new wife has chose to go to school and get a BA in affair. The problem is, she doesn’t want to go to a JC for her AA, wants to do it all online. In theory it’s not a terrible thought, but if she does that, it’ll mean grants/loans for school and we’re further in debt and won’t qualify for a refi because of her school loans. We both want to go back to school, but there are financial difficulties. I’ve an AS and want a BS, but classes I took at JC back in the 80′s won’t transfer over completely and I’d like to change majors. I’ll wait for school, but she won’t. I’m currently out of work and can’t find apt work to pay our home loans, so that means I’ll be being paid two menial jobs working 80+ hrs. and rarily seeing my new wife. Once I’ve a excellent job(s) and we’re on our feet, we’re gonna refi for lower payments. Selling the home isn’t an option, there’s too much invested in it and the local market has crashed for sellers. It’s more logical to keep it. What’s our options?
OH yeah, she wants to go to University of Phoenix online and it’ll be over $50,000 and added costs. It might not even be transferrable/accredited and that seems too much to swallow.
Sorry, forgot to mention she has a son in college and i have one that might be going in a few years. Education is vital to succeedtoday, so risk are worth taking…but to what end?
We talked about how a JC would be more affordable, but she believes it’d take too long. Because she works during the day, there would be many classes not available to her since most JC’s doesn’t offer all their courses at nighttime.That would mean she’d have to quit her current job or miss a lot of work. Besides, the reason for wanting to go to school online is so we’ll be be able to be together in the evenings, and not wasting 2-3 nights apart for four years. Problem with a JC, is she’d only be able to take maybe 2 classes a semester. If she went to school online, she’d take two courses every nine weeks ($295 per unit/$1,800 per session) and have her AA in small over a year and her BA in around three. The small term difficulties seem minimal, but will a mortgage company allocate us to refinance a $450k loan, when all the expenses of the school are going to be due after she finishes? Our debt to income ratio will be too out of proportion. Is that the ******* sound of our economy or dreams ?