I'm planning on going full-time for a 2 year program in Radiology.  I am 36 years old with a B.A. in International Studies.  Last year my wife and I had a combined income of about $52,000.  I'm wondering if I have any chance in hell of getting a scholarship or financial aid?  This year our income will probably be about $49,000 - her's has been very consistent at about $31,000 but I've had 3 different jobs so far this year.

Also, does anyone know the deal on student loans?  Do you not have to start paying them back until you are out of school?  Do they charge interest while you are in school or do they start charging interest only after you are out and start paying them back?  What is the current interest rate?

Thanks!


PS - don't be surprised if you start seeing a few of my guns for sale here to help finance my schooling - I hate it, but I may have to do it.

The above info is right on concerning the subsidized/non-subsidized.  I would also agree about not taking out any more than you absolutely need to.  When I was in school I took out more than I should have, and now its' going to cost me a minimum of $350 a month for 30 years.  That money could have gone to getting me a nicer car, or a better house, or hell a decent gun every two months.  Of course, even minus the $4200 a year, I still make twice what my non-college-educated friends do, so I can't really complain.

I know you didn't ask for it, but I thought I'd question your choice of major.  I know several people with radiology degrees that have found better livings in the paperwork world.  I also know one girl who went into the Army Reserve, had them pay for all the training, and only has to take the exam to become certified.  Now she not only doesn't have loan payments, but she's also getting paid to go play Army once a month.  Its something to think about.

With you already having a BA, I'd look into various master's programs.  Alot of them take less than two years these days, and you could get a masters degree in something that's more marketable than International Studies.  There's also more $$ available in loans for masters studies.  Of course, this means more you'll have to pay back.

Like I said, I know you didn't ask for a critique on your choice of profession, I just thought I'd offer some advice.  If you're going to wind up owing $24k, its alot easier to pay back with a $50k a year job than it is with a $30k a year job.

One other thing, your income may limit you to loans for the first year, but you should be able to get more money in the form of grants etc. for the second.

I can't really think of many other jobs I might like and that are as recession and layoof-proof as something in the medical field.  I'm sick to death of sales, and the paper-pushing coroporate BS is not for me either.

The program itself is actually $3500-$7000 for the ENTIRE 2 years, including books.  Not really a whole lot in the grand scheme of things.  I have a 5.25% Home Equity line of credit that I could draw off, but if I can get a lower rate on a student loan, and not have to pay it back for 2 years, and not have interest accumulate, then that is better.  Does the interest accumulate over the 2 years you aren't paying it?

It depends on the type of loan.  This is all assuming federal student loans of course.
If its subsidized, then you don't accumulate any interest until you leave school.
If its un-subsidized, the interest start accumulating the second you get the cash.
On both types, you start paying them back when you leave school.  Notice I didn't say "when you graduate".  Student loans don't give one shit whether or not you get a degree, or even use the degree that you get.  So as soon as you stop going, you have 6 months to start paying.

Not to be nosey, and just out of curiousity, how much have you looked into the radiology job market in your area?  What are the realistic salary ranges?  
I would not rely on any numbers that the program is giving you, check out the real world.  Also look at what kind of benefits they typically get.  Is this program through a university or is this a private school that just vo-tech training?

Open your own liquor store, also sell tobacco.

Recession proof. In fact, the worse the economy the better the liquor sales. People just can't live without their booze or smokes.