TWO QUESTIONS: School and Foreclosure

[cin]

Yup, I just learned about the hampster wheel game too! LOL....

[AngelinaCat]

Also, the 401k she has may have a rule like mine did, that you can't take out or rollover just part of it, it has to be all or nothing. Sometimes the funds you have in a 401k won't all transfer to the new custodian. Then they have to liquidate some of your holdings and you wind up with cash instead. This may not be the best market timing for that to happen, with cash earning so little and equities down. Just depends on what the 401k currently holds for investments.

I would add to this comment that in addition to the 401k that 'Hub liquidated, I have a TIAA-CREF account that I got back in 1976. I cannot touch it until I am 65. Period. Which turned out to be a good thing, because if I could have gotten to it about the time we liquidated the 401k, I would have. So perhaps in a few more years, I might have a little bit extra Retirement...

As to the schooling, go to your Financial Aid office, and / or the Guidance Office and see if you qualify for a Pell Grant. Even though I think I heard that they were being cut, it is still worth a try.

Good luck to you.

[jcsawyer]

Federal pell grants are not being cut it would definitely give her at least another $5500 for tuition that she doesnt have to take out of the 401k, also my local Community college is offering free retraining courses if you are unemployed! They are also online you dont have to go to the school to do it. It is also in the medical field so it is also an option. Be sure to count all of your chickens, it seems to me that you are attempting to hatch them before they are even laid!

[cin]

Thank you again everyone. I read in Massachusetts that funds for training were just approved in late July -- these funds are NOT available through unemployment yet, but instead are being released TO the companies/schools who have agreed to train folks like me (Workforce Competitive Trust Fund). This led me to the name of a woman at Blue Hills Regional Community College, and I will send her an e mail today and hopefully meet with her this week or next .... I am doing everything I can think of to go to school next September and pay for it in July .....

As for online courses, that is not possible ... there are a lot of labs I would have to go to, which cannot be done from home. BUT I thought i might be good idea to try to find some online courses to get a jump on anatomy, physiology, nutrition, math, etc ... I graduated HS in 1977! Back then, I was 17, lived here in Mass, and decided to move to San Diego and smoke a bit of "something" and find the meaning of life .... How awesome to be so free of worry ....

[cin]

One more thing I need to investigate is to open a "self-directed 401K". I was told I could set this up, hire a "custodian" to direct it, and have them direct some funds to pay for my tuition, bypassing the Unemployment department completely. If ANYONE here knows anything about this, could you sent me an e mail? I am at

[email removed]

Thanks!!

[cin]

Angelina, you couldn't touch ANY of your retirement funds? I can't touch anything in TIAA, but the money I have in CREF are liquid. Maybe that's because I was employed for (2 months short of) 30 years? I also have some money in Fidelity. About 2 years ago, the University I worked for added Fidelity as an option other than ONLY Tiaa-Cref ....

I have about 60K total liquid (Cref and Fidelity) and the money in TIAA cannot be touched. I am only planning to take enough from the 60K to "clear" 15K for tuition. I want it to be obvious to a bk trustee that the ONLY reason I took that money was for tuition ....