Hi There,
I need some advice. After many years of school, I have racked up 80 000 in student debt and am currently 33. My most recent schooling was a MA in English, where I did quite well. Unfortunately, all of my 8 initial applications to PhD programs were rejected. I did received one nice rejection from a very good school that encouraged me to reapply. Panicked, I looked for schools that accepted late applications, and am waiting to hear back from those schools. They are pretty much unknown, or bottom tiered schools.
My girlfriend (and potential wife) has been urging me to reconsider getting a PhD even if I am accepted and pursue another career. She is concerned that my job prospects will not be great because of the lower tiered schools, and that I would be missing out on 4-7 years of good income (4 for the degree, and maybe 3 or more after that before I get a stable position). She is not comfortable supporting me through that process, and the more I think about it, the more I wonder if maybe it is time to move on. I would love the work of the PhD, but I would probably be in my 50s by the time I paid off my loan IF I got a tenured position. Since many successful English PhDs are unable to find tenured positions (especially those looking for contemporary lit, especially American, or Creative Writing in Canada) it may even be longer before my loan was paid off, and I may end up looking for a job outside academia anyway.
So, what is you advice? Are my perceptions of the academic job market inaccurate? Is it really not that bad? Or should I throw in the towel and look for something else that won't make me miserable?
NOTE: I have posted this in a few different forums because I am looking for as much input as possible.