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I Got In!

June 4, 2008

I finally got official word that I was accepted to the graduate program I applied to! It is somewhat anti-climatic.  Since my employer is paying I wasn’t hoping for funding,  so I sort of expected to get in.

What does this mean for my finances? Not a whole lot, actually. It’s a part time program, so I’ll continue to work.  I’ll be considered a half time student so my student loans will go into deferment. Since they are subsidized, the rate will be 0%. That’ll free up $141 each month for savings, but I think I’ll continue to put $70 into my student loan payoff account. (This month, only $65 of my $141 payment went to principal!)

Long term, a M.S. degree in my field translates to roughly $10k-$15k more than a B.S. with similar experience. It’ll increase my expertise and help me advance more quickly. It’ll open more doors to have a top school on my resume. All good things!

T thinks I should take the next step and apply for a full time Ph.D for Fall 2009. I don’t even really want to go for my Ph.D., but I’m laid off in January and the economy is still poor, it is a reasonable back-up plan. Obviously, I wouldn’t go without funding. I know that graduate school should be a passion, not a back up plan. While I may be able to pull off a Ph.D. acceptance, I’m less confident about funding.

I suppose I have until fall to think about it. I have my GRE’s, my professors have electronic letters of recommendation that could be revived easily. No need to decide today.

Instead I’ll relish in my acceptance and enjoy my summer before my free time dwindles to zero!

P.S. – If I hadn’t banned myself from the grocery store, I would make Fettuccine with red pepper feta sauce, complete with homemade whole wheat pasta. The only ingredients I’m missing are chicken stock, eggs, and red peppers. It sounds like a meal T would enjoy as much as I would. He sometimes thinks my ideas of a good recipe to try are odd. I suppose it can wait a few weekends!

P.P.S – Sorry if all the food talk is too much. I am not talented enough to start a food blog, so I just sneak my food thoughts into my personal finance blog!

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16 Comments leave one →
  1. tom permalink
    June 4, 2008 9:43 am

    Congrats!! It is a huge accomplishment! You should be very proud!

  2. June 4, 2008 10:04 am

    Congrats on getting in! I’m addicted to the sugarlaws blog esp the garlic jam and homemade whole wheat pasta without a machine. it looks like something to try in sf bay area weather – cold, windy and mild.

  3. June 4, 2008 10:26 am

    Congrats on the grad school!

    Regarding food…those tacos look delicious! (Minus the avocado, lol) The most frustrating thing for me is when I cook up a recipe that I find DELICIOUS, only to be told “its ok” or “its not bad” by my boyfriend. Pisses me off! lol. (Not as bad as getting a “meh” though…but he’s smarter than to say that to my face) Thanks to you I’m also addicted to sugarlaws now!

  4. June 4, 2008 10:29 am

    I like the sneaky food comments, it’s one of the reasons I read the blog!

  5. educatorblog permalink
    June 4, 2008 10:29 am

    Congrats on your acceptance!

    I’ve banned myself from the grocery store as well :-( I can’t stop trying recipes from 101cookbooks.com.

  6. June 4, 2008 10:45 am

    tom – Thanks! Getting in is the easier part, getting through it… is going to be hard!

    sfordinary gal – I’m for sure trying that pasta… once i allowed myself into grocery stores again. I missed the garlic jam, but that looks good too!

    QL girl – My boyfriend tells me that everything is good, which is confusing. I have to pull it out of him whether he actually wants to eat it again or not really!

    KC – Good! Some of the recipes aren’t exactly frugal, so i feel like they are out of place…. but at least none involve truffle oil or anything!

    @educatorblog – an internet full of recipes is just trouble. Everything looks so good!

  7. paranoidasteroid permalink
    June 4, 2008 10:46 am

    Congratulations! I’m in a program at the other university (your university’s rival), and while it’s a little crazy to work and go to school, in the end it’s worth it.

    As far as a PhD goes, my sister is working on hers and she managed to get a fellowship. You’re a girl, so you have a good chance of being accepted and getting funding, but it will also mean you have to work harder to earn everyone’s respect (e.g. http://www.phdcomics.com/comics/archive.php?comicid=55). I do think getting the degree can be really fulfilling, though. Plus there’s the added bonus of getting to say, “It’s Dr. StackingPennies, actually.”

    Sarah

  8. June 4, 2008 11:04 am

    @sarah – lol, thanks for the comic! BTW, the main reason I chose this school over the rival is they accept 6 transfer credits and are on the quarter system while the rival only would take 3 transfer credits.

    I think I’d be satisfied with an MS, but… we’ll just have to see, I guess! Thanks for the encouragement. I think I have a lot of self doubt!

  9. June 4, 2008 12:40 pm

    That’s great news, and even better that your company will pay for it. When did you squeeze in those transferable credits?

    I keep daydreaming about grad school, but there’s a bit of me that really wants to just go to school without juggling a job. Heh, like that’ll happen.

  10. June 4, 2008 1:32 pm

    @Msminiducky – at my last job! I worked elsewhere for about 1.5 years and took 3 classes at a different college while working there. I could just continue on with that degree program, but this one is much better.

  11. June 4, 2008 1:34 pm

    Congrats on the acceptance! Applying to school as a back-up plan may not be the best idea, but desperate times call for desperate measures!

  12. June 5, 2008 4:15 am

    Hey Congrats! I just registered for classes – even though its summer it seems to be the time for school.

    After working in a lab with several PhD students I don’t think it’s something I want to do, but if you find something you really enjoy and will help your career then go for it (eventually) – from watching others it’s a TON more work than a masters…

    Good luck with classes and everything. :-D

    P.S. I love cooking and finding new recipes – having a whole internet full of them is not good for my productivity. I completely understand where you are coming from. And I think I am going to try the homemade wheat pasta this weekend, if I have time.

  13. June 5, 2008 12:45 pm

    This is fantastic news! Congratulations. =)

  14. June 5, 2008 6:14 pm

    Congrats on getting into grad school! I just started graduate school myself so I know how good of a feeling it is to get in. This is the first time I’ve stumbled upon your blog and I have really enjoyed it so far, keep up the good work!

  15. June 11, 2008 9:00 pm

    Congrats on grad school! I’m getting my PhD in Sociology right now, and I’m on my last year of writing before the job market. it can definitely be stressful but it has been a wonderful experience.

    And you should DEFINITELY try the shrimp tacos. Okay, well at least you should try them if you like fish taco type things at all. if the whole basic idea of a seafood taco is too far out, then maybe not. but in the genre of seafood tacos, those are really quite good. And if the raspberry is what is odd to you, feel free to sub mango pico de gallo (a bit more mainstream) or even regular tomato pico.

    Bon appetite!

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