I happened to take a look this afternoon at my financial aid package for the coming academic year. Since I got married and we had our first child in 2012, which included my wife quitting her job to raise our son, this coming academic year will be the first time that I get Pell grants (and the last, it appears, as any further academic endeavors will be at the graduate level).
The basic setup is that I've been awarded roughly $3000 in grants for the coming year, divided across the fall and spring semesters. That means my previous plan of completing all four required classes for my degree in the fall would effectively cost me almost $1500 in grants (aka that becomes an out-of-pocket expense). If I divide my classes across the two semesters and graduate five months later, I've effectively saved $1500.
The choice to me is obvious, especially considering there's no guarantee that I could find a higher-paying job to increase my income in those five months compared to my current employment. I'm choosing to take the safe bet instead of wagering on an extra five months of having my B.A.
To add another advantage to the list, delaying my graduation will allow me to take Mathematical Statistics II and complete the Applied Math focus of my degree (I'll have already completed the Pure Math focus either way).
Beyond that? Still undecided! :)
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