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Reply to "How to get out of debt!"
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[quote=Anonymous][quote]I don’t invest a lot in 401k and max about $2500/year. I got a tax refund this year and used that towards paying down the debt. Going back to school is I really want to do and it would increase my salary by 30-40% after 18 months of education but worried about the debt. [/quote] Wouldn't you have a 403(b) and not a 401(k) as a nurse working for a non-profit hospital? Or is it a for-profit institution? How much debt would be required for additional schooling? You say that it would give you 30-40% more pay, which is ~$14k/year after tax. It might be worth it, _if_ (a big if) you could effectively tread water economically for 18 months, pay back the school debt in a year or two, then attack your other debt. Could you do that without accumulating more interest and/or hurting your credit score? Could you afford the other costs of education (books, etc.)?[/quote]
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