Reply To: dilemma in changing jobs

Adding to the math here:

$20,000 is not $20,000 in take home pay. You won’t have an extra $20K at the end of the year, but a percentage of that based on how much state and federal tax is deducted as well as whatever other benefits you receive.

Additionally, a loan for $24K is not $24K in payments. With interest and other fees, each of your daughters will need to pay back a good deal more than $50K once they finish school.

As I see it, the biggest financial sacrifice you would be making would be the loss of payments into social security or other retirement funds. But for four years and only $20K, that seems like a reasonable sacrifice.

Four years allows you time to build other skills and network so that once your kids graduate, you can find something better. Also, tell your girls that they have 4 years. If they don’t graduate in four years, you can’t promise them you’ll stay longer. Let them know they have a firm time limit so that together the three of you can celebrate your achievements, them graduating with no debt and you moving on to something better.