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Should I Give Up On My Dream Job And Go Back To School?

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I've been feeling very lost lately because of my financial situation as well as my job.

I'm 26 (27 later this year) and I have a college degree but I wasn't able to find work in my field. One thing I've been working on for the past couple of years is a business plan for a clothing store in my city. This plan is related to the education I have. I was accepted into a government program that basically paid me to work on my business plan and eventually have it up and running. Everything was fine but I ended up being denied by the bank for a loan because my credit score wasn't high enough and I didn't have a cosigner or enough assets. However, they did say my business plan was viable. It's been two years since this happened and my credit score has not moved a single point up or down and it's become very frustrating because at the moment I'm working a minimum wage job and my hours have been cut because it's a very slow time of year, plus I pay most of the bills in my household so I can't even save enough to try to get my business off the ground myself.

I'm getting to a point where I'm wondering if I should give up and maybe try going back to school. This has been a really difficult thing for me to have to think about because I've worked so hard on this business idea and I was so excited about it and now I just can't see it ever happening. The idea of going back to school scares me because I don't want to come out of it with a lot of debt and no job prospects like I did last time. If I do go back to school I would want to go into psychology but I worry I won't find work although if there is an over abundance of workers in the mental health field, it's no showing. Not around where I live, at least. I've talked to some friends and they think it's a good idea and others think I should keep waiting on my business although my financial situation has shown no signs of improvement. I don't know what to do. I feel really lost. My life seems really pointless and stagnated. Any advice would be appreciated. Thanks.

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Unless you have money, I really don't understand why people actualyl consider going back to school in their late 20's.

All school does is offer and escape from your current reality becausew you think it will enable you to do better things.

10 (even 5) years ago I would have agreed, but now?

If you didnt' start saving for a house come age 25, you're not getting one until you're 35, especially if you go back to school.

IF you want kids?

You're going to be a very old parent because 2 years in school plus 2 years in a starter position THEN you can think about kids.

Ideally, I could say follow your dreams, blah, blab, but no.

I say work.

If you need a change find other work, but not school.

All you get is 2 years gone & more debt.

Ever notice the option of school is only in someone's mind when they aren't happy wtih their life?

Well, after graduation you'll be twice as poor & back in the same spot.

It just seems like 2 steps backwards to me.

This is a hard time for dreamers, IMO.

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If you go back to school, I wouldn't recommend a psych. bachelor's. I've read in so many articles how it's the bachelor's degree with the most unemployed people. Is there any way you can change the business to make it financially viable? Maybe start with an online store, to save up money to eventually open the physical store?

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A psyche degree is not a way to increase your salary. I'd get a second job or work as a temp through agencies (apply at many) to get exposure to different companies and apply for better jobs within them. Most good jobs never make it outside company walls, they hire from the inside. So get inside.


If your business plan involves selling something, can you dabble in moving some of that product online through Etsy or eBay or some other outlet? This would gain you exposure and experience with your supply chains that can increase your future business viability, while a better job or a second job can increase your income and make a dent in your credit score.


Piling up a bunch of student debt for unknown job prospects makes no sense. Invest in making yourself and your ideas and your risk factors a better bet for the gaining loans you need. If you don't demonstrate some progress in these areas, your chances of landing what you need for a business decrease.


Head high, and think beyond the options you've outlined.

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