Author Topic: [ADVICE] Masters financial aid + travel-and-study FIRE  (Read 1065 times)

neonlight

  • Stubble
  • **
  • Posts: 196
[ADVICE] Masters financial aid + travel-and-study FIRE
« on: August 05, 2017, 06:51:28 AM »
Do you guys think it's ethical to apply for grants or aids to study for a MA closing on achieving FIRE? someone might need the financial aid more, but if I get it it does safe me money.

I am thinking of doing a soft FIRE, by way of studying and traveling. My income generating capacity will obviously slow down tremendously but as long as my planned two years "sabbatical" doesn't take money out of my FI jar, I'd rate it a success. I am about there at FIRE in terms of savings but the cushion is not super big. I see travel-and-study as a way to find my next passion, perhaps something that can draw in little money and also fun, since I am only 35.

My thought is to do a Masters of Arts in Europe (preferably central or eastern Europe where I can experience the culture, drink good beer and also live thrift.
« Last Edit: August 05, 2017, 09:48:46 AM by neonlight »

Beach_Stache

  • Stubble
  • **
  • Posts: 122
    • This Frugal Father
Re: Masters financial aid, advice needed
« Reply #1 on: August 05, 2017, 08:29:41 AM »
Why not?  You should always apply for free money/aid/scholarships.  Someone else may be in more need, but honestly if they apply for stuff and are in need then they'd probably get it.  There is a lot of money in untapped aid b/c people don't know how to apply for it.  If you get it and reach FI early then I'm sure you'll be paying it back in the future in terms of doing good things for people of the world, maybe helping a needy person who doesn't know about how to get that aid in the future.  If you are at the point of FI soon then you're probably a subject matter expert on a lot of things (like finance) and applying for Aid and getting it will probably lead you to a path of becoming an expert on how to get free money for school.  Use the application process as a way of becoming an expert in the field and then pay it forward by helping others in the future!  Win for everyone!

neonlight

  • Stubble
  • **
  • Posts: 196
Re: Masters financial aid, advice needed
« Reply #2 on: August 05, 2017, 09:50:37 AM »
Why not?  You should always apply for free money/aid/scholarships.  Someone else may be in more need, but honestly if they apply for stuff and are in need then they'd probably get it.  There is a lot of money in untapped aid b/c people don't know how to apply for it.  If you get it and reach FI early then I'm sure you'll be paying it back in the future in terms of doing good things for people of the world, maybe helping a needy person who doesn't know about how to get that aid in the future.  If you are at the point of FI soon then you're probably a subject matter expert on a lot of things (like finance) and applying for Aid and getting it will probably lead you to a path of becoming an expert on how to get free money for school.  Use the application process as a way of becoming an expert in the field and then pay it forward by helping others in the future!  Win for everyone!

Thanks man, that's a very motivating way of phrasing it :)

I fully agree that there's alot of grant left untapped. During my school days I was the first person in my college to receive an European grant, and from there on people from my college started getting it. I suspect it was me who paved the way *positive thinking hat*

dreams_and_discoveries

  • Pencil Stache
  • ****
  • Posts: 929
  • Location: London, UK
Re: [ADVICE] Masters financial aid + travel-and-study FIRE
« Reply #3 on: August 13, 2017, 07:34:26 AM »
I think it's acceptable, if you tell the truth and meet the eligibility conditions, that seems fair?

Out of interest, where do you still get financial aid or grants? There don't seem to be many about now, except for those in the top 0.1% academically?

neonlight

  • Stubble
  • **
  • Posts: 196
Re: [ADVICE] Masters financial aid + travel-and-study FIRE
« Reply #4 on: August 13, 2017, 09:06:14 AM »
I think it's acceptable, if you tell the truth and meet the eligibility conditions, that seems fair?

Out of interest, where do you still get financial aid or grants? There don't seem to be many about now, except for those in the top 0.1% academically?

There are quite alot if you're not overly picky on the universities. In fact the really good ones also offer scholarships and grants. One that I really like is the Erasmus scholarship program where you get to do a semester in another EU university or even study the whole degree there. Some grant reception ratio is ~10% or more even, if you look carefully.

I know there are more lying around, I used to compile a whole list back then when I was still in school, but I've been out of school for ~decade now, any resources are highly appreciated :)
« Last Edit: August 13, 2017, 09:08:12 AM by neonlight »