Right decision
June 27, 2009 | Jacksonville, Florida | Vetting explained
I was layed off in May. As part of my layoff benefits, I can receive up to $9000.00 in tuition assistance and will be paid until October of this year. I have decided to change careers and become a Medical Lab Technician. The starting pay in this field is a little more than what I was making after 16 years.
In order to graduate by December 2010. I will need to attend full time. As a singe parent of a 6 year old daughter, I will only be able to work part time. I plan to have my car and credit cards paid off by October and hope to have a part time job. However, the part time job will not be enough to cover my living expenses and mortgage payment. Also, the last two semesters I will need to intern at least 3 to 4 days a week reducing my part time hours.
I have about $17,000.00 in my 401K. My monthly mortgage payment is $580.00/mo. I am planning to use my 401 K to cover my mortgage expense until at least March of 2011. (I'll need about $10,000.00) Is this the right or best solution to my problem?
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