Should I Study Full Time or Part Time to Complete My Degree?

L[Deactivated] on 14/06/2017 - 21:27
Last edited 15/06/2017 - 09:35 by 1 other user

HI Guys,

I am 25. partner is a Kiwi and 27. She is stay home mum with 3 kids under 4.

Currently I earn 86k gross.

I have started a degree this year. I have started as part time, but I am considering going full time in July.

I an trying to figure out a sweet spot between working and studying and get Centrelink benefits. Currently we get say $2200 from my salary a F/N NET and $300 F/N from Centrelink as Family Tax Benefit.

From what I can see on Centrelink fare estimator there are three main things we could get:

  1. Family Tax benfit.
  2. Aus Study for me.
  3. Maybe partner pay for her.

I am finding it really confusing…is 'income' for the purpose of the 'partner pay' tests include FTB payments?

My sums:

  1. If i go full time study, no work I can get $500 AUS study, wife gets $505 parenting pay, and we get Family Tax Benefit (FTB) of $660 - so total income of about $1700 - a loss of about $800/fortnight. On the positive side I get more time with family, get my degree finished quicker, and no stress from work! But less money to live off and pay off home :(.

  2. I think potentially there is a 'sweet spot' of working 3 days a fortnight? So if I get $1100 from work a f/n gross, then I should get Aus-study of $140, MAYBE partner pay of $500/f/n and FTB of $660? so that is about 2300 gross…

Please help me decide.

———————————-UPDATE—————————

Trol lol i expected a lot of unhelpful comments, and that's what i got!

  1. Aus-study would be approved - it is designed to support students studying full time equivelent load in Australia.
  2. I have worked to support my family and to pay substantial amount of tax over 5+ years.
  3. The government designs benefits for a reason. The result, whether intentional or not, is to support people whilst they are studying.
  4. I am studying to improve my income earningn ability. I expect at completion of 3 years to increase my life time earnings substantially.
  5. No bludging here people. I've worked and studied before, this is a more challenging degree coming up, and it is perfectly acceptable to try and determine what benefits an adult student with a family is eligible for.
  6. Haters gonna hate.
Financial

closed Comments

  • Car-la-la on 14/06/2017 - 21:40
    +2

    ahh the ultimate ozbarg troll

  • Godric on 14/06/2017 - 21:47
    +2

    No

  • [Deactivated] on 14/06/2017 - 22:51

    I doubt austudy would be approved if you quit your job to get it. Austudy isn't just student spending money. I think Current Affair would label you a benefits cheat too.

  • SnoozeAndLose on 14/06/2017 - 23:04
    +2

    You should work to raise money for you and your family, you shouldnt relie on government to support your study.

    Please dont educate your kid to go this way, this make Australia unsutainable and at the end of the day your kid will suffer.

  • altomic on 14/06/2017 - 23:24

    Hmmm, when I was studying and has 3 kids under 4 I worked full time. It's not difficult. Go hard core.

  • BruceLee on 14/06/2017 - 23:41
    +4

    What benefits can you get?

    That's easy. You can get the benefit of working and contributing to society rather than draining on it.

    Don't intentionally manufacture a welfare outcome. Welfare is for those truly in need - not for those who want to game the system.

  • tsunamisurfer on 14/06/2017 - 23:55
    +1

    Government benefits are to help those in need. You are already on the best option of working and being self-sufficient and undergoing further education for self-improvement.

    Government benefits are not there for you to "get more time with family" and have "no stress from work".

    Furthermore…."But less money to live off and pay off home" suggests you have a mortgage, do you see a danger when interest rates are at historical lows and you are locking yourself into fixed incomes?

  • [Deactivated] on 15/06/2017 - 07:17
    1. Aus-study would be approved - it is designed to support students studying full time equivelent load in australia.
    2. I have worked to support my family and to pay substantial amount of tax over 5+ years.
    3. The government designs benefits for a reason. The result, whether intentional or not, is to support people whilst they are studying.
    4. I am studying to improve my income earningn ability. I expect at completion of 3 years to increase my life time earnings substantially.
    5. no bludging here people. I've worked and studied before, this is a more challenging degree coming up, and it is perfectly acceptable to try and determine what benefits an adult student with a family is eligible for.
    6. haters gonna hate.
    • [Deactivated] on 15/06/2017 - 09:24

      'equivelent', huh? Keep on studying phonetic spelling, brainspace.

      If you have a mortgage, you do have to tell your bank about your significant change in circumstance, I mean happy news. Watch them motion for the underdesk button.

      • [Deactivated] on 15/06/2017 - 10:15

        no need to be rude about my spelling! Try typing with one hand whilst feeding a baby.

        Good point about the mortgage. I am a couple of years ahead with repayments, and substantial cash in offset so practically i dont' see the issue, but i'm sure the bank could look at very differently. Probably would constitute a 'default' if i resign from my job and not tell them within a time period?

        Thanks for your contribution.

        • [Deactivated] on 15/06/2017 - 10:29

          No need to suggest commenters are hatin' on a benefits playa :p

    • citygal on 15/06/2017 - 13:35

      1.Aus-study would be approved - it is designed to support students studying full time equivelent load in australia.

      Where do you get this from? Yes, it's designed to support students studying full time, but I doubt you will pass the income and assets test.

      • [Deactivated] on 15/06/2017 - 13:51

        The home isn't counted in the assets test. Cash in offset will be, that can be put towards loan in full perhaps. but i think when i was using the calculator the cash didn't seem to make a big difference for the partner pay and FTB? But i think it makes a big difference for the ausstudy and definitely would for the 'newstart' - Fair enough - the government shouldn't pay the dole to people who don't need it yet :).

  • momov3 on 15/06/2017 - 12:31

    I cannot believe you have such complicated questions involving Centrelink (which you do not play around with) and you are not calling Centrelink or visiting them personally to ask the right way to get around your 'predicament'. You are going to get all kinds of advice here (some inaccurate) which may be to your disadvantage and even worse, land you in hot water with Centrelink.

    • [Deactivated] on 15/06/2017 - 12:47

      Thanks for your contribution. All the information i have put up re the benefits available are freely available via the Centrelink Rate estimator…i am not trying to do anything dodgy whatsoever.

      Calling Centrelink can be difficult - wait times can be ridiculous.

      • momov3 on 15/06/2017 - 13:11

        I would think that tossing up between Option 1 and 2 is not so much an 'income' issue for which you need advice, as you have just mentioned everything is shown via the estimator. Deciding between Option 1 and 2 is wholly a personal issue which only you and your wife can decide! Do you prefer to
        a) work part time, take home more fortnight pay collectively but finish degree later and spend less time with family, b) study full time, take home less pay, finish degree sooner and maybe get to see more of your family?

        It's really a personal decision (also taking into consideration your household budget circumstances) since your $$$ figures are all laid out there for you.

        • [Deactivated] on 15/06/2017 - 13:49

          I think you're right. thanks

  • citygal on 15/06/2017 - 12:54
    +1

    Currently I earn $86k gross.

    I am trying to figure out a sweet spot between working and studying and get Centrelink benefits.

    Go away. GOOOOOOOOO!!!!!

    • [Deactivated] on 15/06/2017 - 12:55

      :(

  • Moderatorscotty on 15/06/2017 - 14:11

    Thread closed as requested by OP.

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