Other OT-Related Information Should I spend my saving on my tuition?

[Futurenjot]

I messed up my credit last year due to quitting my job.So no grad plus loans. I have amassed about to 15,000 in savings ATM. Federal Student Loans is about 41k.
My first year of school costs 55,000.
My question should I use the savings on my tuition or wait to begin working in the program(maybe second semester)? I will getting an apartment as well so I'm scared of using that money in its entirety.
Ps I've been working for a year and have not improved my credit. I've had two accounts go to collections Big mistake. I also have undergrad debt.

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[proapplicant]

This is tough. From what I hear it's almost impossible to work steadily and complete these programs... I think I would hold off on using my savings. Your going to need that to take care of yourself- food, bills, housing etc. I have around the same amount saved up and that's where I'm going to allocate it and then take out a massive amount in loans. Jeez, we are going to be so poor for a while...

 

[Futurenjot]

I know . I really do love OT and have applied to many scholarships but I have over 70k from undergrad.
I think essentially I will have to get a part job and pray.
I'm will b 28 when I start working and would like to enjoy my life at some point lol without loans.

 

[elischeesecake]

I know . I really do love OT and have applied to many scholarships but I have over 70k from undergrad.
I think essentially I will have to get a part job and pray.
I'm will b 28 when I start working and would like to enjoy my life at some point lol without loans.

I really think that a part time job can be balanced if you know yourself, have a realistic idea of the demands of your program and are organized! I think it would be wise for you to decide what you can use your savings for-- perhaps for living expenses during school? I think it is best to take out as few loans as possible, so if you have money that can cover your living expenses without taking loans for that, DO IT. I'd also recommend continuing to make some payments on your undergrad loans-- that interest will accrue and might undo some of the work you've done paying them off! My plan is to work some after I've been in the program a couple weeks to get the hang of things and use that money for daily expenses and student loan payments. Also, if your program has any longer breaks you can get a temporary job and make some money then!