I’ve been offered a 33% raise to leave the government. I’m a senior engineering manager in missile defense (Federal Civilian).
My conundrum is that my children are about to go to college and my raise will affect the cost of college. In fact, in some cases the increase in cost is equal to or greater than the net increase in my take home pay.
For anyone not familiar with determining cost of college just type in the name of the college and its Net Price Calculator (NPC). It estimates the cost of college based on your tax returns and assets.
I’m worried that if I take the job I will not allow my children go to the school they’ve worked for because it costs too much. Many schools go from $30k per year to as high $70k per year based on the new job in the college’s NPC.
We have been saving for years but nowhere near this. I don’t want to dash my children’s dreams, but turning down $50k+ raises is no easy decision. Any insight or advice?
Children are 14 and 17 and colleges that are hopeful and possibly realistic for top 20 and maybe top 10 colleges in the US. Also my 17 year old wants to go to law school after undergrad so she has major college fees coming.
So torn here. It feels like it’s my career or their college.
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