Potential mechanical engineer from pa

Hey guys , I’m new to the site . I’m from Pittsburgh Pa. I’m 26 years old and work as a machinist (no formal schooling ) at a production plant . It’s a family owned company and I just want a safe back up plan , and have always been interested in engineering . I have been taking a few classes each semester for the past 2 years at a community college . The problem for me is , I can only go part time with my work schedule , but I need my job as it puts a roof over my family’s head and food on our table .  I did the math and it’s gonna take about 6 more years of schooling at this rate ! I currently make $44k a year without school loans . Is this engineering degree worth the leap ? Or am I missing out on time with my family , and putting myself into massive debt ? Should I just entertain the idea of a trade ? 

@Jberger93

Are you able to apply for any financial aid or scholarships? There's nothing wrong with taking it slow, and if you continue in engineering your machinist work with definitely set you apart from other engineers.

Let's say you don't pursue the degree. Where do you see yourself financially 6 years from now? 10 Years? How much more can you progress in your current field?

Now let's say you do pursue the engineering degree. According to glassdoor the average yearly salary for a mechanical engineer in Pittsburgh is 67k. So an entry-level engineering position may be a little lower, say 50-55k. But, after 5-7 years 60k+ is definitely achievable. Could you afford the student loan payments with the former sort of salary and still maintain your standard of living?

Would you be interested in a job like this or this? Pays about $23/hour. What you could do is take a few more classes and then look for a designer/drafter job at a company that helps pay tuition. Then continue your degree, but have your company pay towards it, too. That could cut down on some of the debt.

I applied for financial aid, but apparently I’m over the qualifying income . Job progress is the second biggest reason I’m considering mechanical engineering . Most days I feel like a zombie . My mind doesn’t have to work , I am just set in a routine and it’s too easy . Also the pay scale is limited to my union contract . I guess I’m more curious about how much I should expect to pay per month for school loans , and if my new salary minus the loans is still at least breaking even for the first few years . I have also considered civil engineering , but have come to the conclusion that mechanical is more well rounded and easier to find a job. 

Jberger93 said:

My mind doesn’t have to work , I am just set in a routine and it’s too easy

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This sounds like my job and I'm an engineer lol But there are definitely engineering jobs that are challenging.

Jberger93 said:

I guess I’m more curious about how much I should expect to pay per month for school loans

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Idk. You'd have to run the calculations yourself. I had subsidized and unsubsidized that ranged from 3.4% to 3.86% fixed interest.

$30k @ 3.86% for 10 years is $302/mo. That's an extra $3,624/year from your after tax income. Lets say taxes are 25%, you'll need and extra $4,832/year to cover the loan.
If the loan is in the neighborhood of $60k, that's $604/mo. So an extra $9,664/year from your salary before taxes.

Scholarships go a long way. There are thousands of unused scholarships out there, they just have to be found and applied for.

Welcome to the site. 

One thing to consider...
I don't know what the options are where you live, but see if there's an inexpensive state school that offers a full engineering degree (B.S.). Again I have no idea what your personal finances are, but if you're only taking one or two classes and can get "in-state resident" tuition to a state university, it might be reasonable to pay less than $1000 each semester. I'm not saying that's nothing, but you might be able to fit it into your budget and not deal with loans.

@Chattaneer PE's suggestion was also good. You could get an Associates degrees in drafting from a community college. Get a (probably salaried) job as a drafter with a company that provided education assistance, and let them pay for your engineering degree.

Another thing to consider. I've worked in a few manufacturing facilities, and the production laborers often make similar to or, in some cases, more than the engineers when you include all the overtime. But the working conditions, benefits, and "quality of life" for the engineers is much better. So ¯\_(ツ)_/¯ just saying there's more to consider than just the money.