dilemma in changing jobs
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Ron, I’m trying to get the glitches fixed and noticed you were still being auto-replying as Judy at 11:05 am EST today (4/7). A couple tweaks were made since then; would you mind leaving a test comment so I can see if the issue is fixed?
Anyone else who was experiencing issues is welcome to leave a test comment as well. Thanks for your help!
So if a years tuition for both girls is $24k, then you’re actually making more at the current job than the new job pays, if you see the free tuition as part of the total comp package (like a 401k match or profit sharing or a free car, or lots of things that are part of the total package at various companies). Can you not stay where you are for 4 years and then make a move?
To Kate’s point, if I were one of your daughters who could have had a free ride to college but had to take out loans because my parents didn’t have any/enough college savings for me AND quit a job that would have provided free tuition, I’d be be upset. This is just something to consider as you make your decision. I’m not saying that staying where you are is the right choice, but be prepared to answer your daughters who might have difficult questions for you.
I would stay for the free tuition.
The tuition will be that plus interest for your girls. Why not just sit tight for a couple years of it could help them so much?
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.
