Hello Everyone,
I have been reading GRS for over a year now and stumbled on the forum about six months ago,but this is the first time I will be posting.
Not a day has gone by that I havent wished that I knew about this site and pf in general much earlier than this time I am sure I would not be in the situation I am in.
Myself and my husband got the oppotunity to move to the US a few years ago and quickly found out that we were going no where fast with minimum wage jobs
So I hurried up and got my certification in my profession( already had the degree in my country just needed to get certified in the US ) and the plan was that as soon as I finished my husband will start medical school.
Well I got a job in my chosen profession and my husband did start medical school a few months later (read no savings and no paying down debt)
The plan was for tuition he would apply for school loans(which he got) and for other expenses I would support him so we can make sure his school loans will not be too high(we heard of the horrible debts doctors end up with after medical school)
Fast forward 2 yrs later in the middle of the US financial meltdown his school lost eligibility for school loans ( long story) and for the past year we have been paying out of pocket for his school.
Now come my question, Like I said, i started reading GRS about a year ago and I started implementing what I was learning, I set up a budget,completely stop the stupid bank fees we were incurring because of not paying attention to our spending I was paying down our cc debts, emergency fund was up to 3k and cut down our bills by cutting off unnecesary insurance etc etc
Now since tuition has to come from me our debt has ballooned again emergency fund is down to $500( stubbornly held onto that amount) and I have come to the point where I am increasingly getting frustrated because I know what I should be doing to be on the right path financially but I cannot implement any of them!!!
If you were in my position what will you do?
I do not want my husband to stop school, not now when all he has left is just 17 months of clinical rotations. At the same time how do we survive another 17 months of increasing debt ( dont know if we can get any more loans and even if we do get it i dont know how we can even make the payments since right now,all monthly income is finely balanced by how much is going out)
Sorry for the long post but what will you do in my situation?????

I think he should stick with school until he finishes.

See if you can get a part time with your full time job until he's done, since he may not be able to work.

Can he do work study with his university?

I think the debts out weigh the benefits you two stand to gain after he's done.

Blinders on and full steam ahead.

Thanks fantasma,
his becoming a doc is a long time dream of his not necessarily because of the money he will make from it thats why i was and still is on board
And he has agreed that the first few years after medical school will be dedicated to debt repayment.
Right now I put in extra hours at my job and work 48 to 50 hour week .I am not sure I can do more with two kids in the mix . I had to beg my mom to come stay with me full time to be able to even work those hours because daycare cost was killing me.
But I will look into that.
He was doing work study at his school but now that he starts clinical rotation that income is ending cos they move them from one hospital to another after every 12 to 16 weeks .
I just want to hear suggestions as to what I can be doing to make the next 17 months a little easier I guess

Oh my, didn't know about the kids and the extra hours your working now.

Is it possible for him to do some side gig job? Tutoring or dog walking etc?

Is your budget bare bones now? You said you cannot take out any extra loans correct? Or you won't take out any extra loans which one is it?

I have cut down to the barebones the best way I know how and work all those hours already.
Right now I am able to make all payments on my bills,cc debt and loans but thats it I cant do more than that and now with 17 months to go we are still looking at about 40k in tuition as well as all the travelling and living xpenses he will incure every few weeks during his rotations.
I can try and get more loans for tuition but how do I make the payment?
I draw the line here actually I do not want to default on any loan or cc debt we currently have. so if i cant make the payment I wont apply for the loan.
I have been thinking he should take a semester off (about 4 mnths) that will give me breather to get rid off some of the cc debts so we can get get a line of credit
I dont know i m just at my wits end right now
He has been trying to look for a side gig that he can do, maybe online, so it doesnt matter where he goes he can still do it but so far nothing
He is not too online or tech savvy soo...