Just curious as to what some of your opinions might be here:
I am 30 right now. I have a well paying job($50k/year), that is ok. Not great, but not bad. Full benefits come with the job. No car payments(though I do outright own a few, going to sell some of them), and single. My only real obligation is rent, at $1000/month. Going to knock that down a bit, as a friend is going to move in as a roommate soon.
In '99, I joined the Army for 6 years and got the $40k GI Bill+Army college fund. So far, I've used up about 12 months worth of that money. If I don't finish using it by 2015, it goes away. I have, for the most part, a full year of college completed.
If I continue to go to school part time and work at my current job, I'll finish a degree within 6-10 years. If I quit my job and go to school full time, I can finish my degree in 3-3.5 years.
More math: I currently am on the standard GI Bill, and get $975/month for half time. Double that for full time, and I am looking at $1950 per month, as long as I am in school(tax free money). If I did my homework correctly, that's a $600/month kicker from my ACF. I can convert the GI Bill to the post 9/11 bill, which changes it to the following: Tuition is paid directly to the school, and the gov't pays me a housing allowance($1458) plus my kicker each month I am in school($2058 total).
I am thinking of quitting my current job, going post 9/11 GI bill, and going to school full time. It seems as though I shouldn't have a problem covering expenses every month I am in school with my GI bill money. I can ride my bicycle to the lightrail, and take the lightrail to school(which is what I do now anyways). So I wouldn't have a need to spend any money on gas for a car(one could argue I don't need to now, but I do spend $ on gas to get to work). My main concern is the summer months, as I would lose my income during those months. I would either need enough savings, or get a summer job.
I am also considering joining the national guard, for the extra ~$300/month bonus for doing 1 weekend.
Would I be a fool to not take the time to go to school full time? Is there anything I might be missing in my equation here? It seems to me, that quitting work and going to school full time would be the best option for the long term.