Originally Posted by Iris' Mom
I took on much, much more to go to law school. I think for education it is very much worth it. But, of course there are risks involved, so it makes sense to be looking into other jobs. You could also consider something like babysitting/child care that might allow you to earn some money and eliminate child care expenses.
I took out a whole lot more to get through law school. I could have taken out less, but it gave me time at home with my son until he started elementary school (though I did supplement some with flexible employment that I could either do mostly for home or take him with me.) It was so worth it - and I can say that now, even though I'm currently paying them back.
The situation isn't black and white. How much will you be saving in expenses? What could you do to supplement that wouldn't incur more expense? Are these Stafford loans or private loans? What would your interest rate be and how able would you be to pay it off relatively quickly? As another person said, would your being home enable your husband to accelerate his program? Are you in the type of industry that you could go back to in a few years without much penalty to your marketability?
If the debt you incur now is going to sink your family for years to come then, of course, you shouldn't do it. If the payments on the back end will be manageable, then, personally, I would do it in a second.
One more thing: Aren't there programs that employ nurses and pay off their student loans when they make a commitment? I'm pretty sure I've heard of those programs. That would be something to look into, as well, even though it could very well mean moving.