<prompt> Human: Were both 32 and expecting our first baby. My husband is looking into going back to school to start a physical therapy program. He has a bachelors in an unrelated field and currently works freelance. We both have school debt - mine from an advanced degree 180k, his from undergrad 20. Were chipping away at his debt and Im working in public interest in hopes of benefitting from loan forgiveness in ten years already have 4 under my belt.Together our incomes clear 100k, we live in an expensive metropolitan area and pay rent of 1500, and otherwise have minimal expenses. Would it be unwise for him to start this new program that will likely add at least 30k debt, likely decrease our total income while hes in the programdoing the pre-reqs, and will take 3-5 years to complete? He could earn a stable 80k afterwards and my salary can definitely increase when Im done with the ten years should I choose to work in the private sector. Is this bad timing with a new baby? Or great timing while babys still small?We also invest in a RothIRA about 200 a month and have over 12k savings. No credit card debt. Eventually wed like to buy a house and it sounds like my family will be able to help us with a decent down-payment. But were not there yet. Advice? Assistant: Your child care expenses will be highest when the child is small, for what thats worth, and will decline when once they go to school. You dont say how much income you are giving up here; you refer only to your current income, which is irrelevant if you wont have it when he goes back to school. Human: It varies year to year but lets say he makes 50k and I make closer to 70k with a guaranteed yearly increase of 3-5k. We will luckily have family helping us with childcare so its not an expense in the foreseeable future, but diapers, etc, will be.  <response>: So the plan is for him to spend 30k on school and to not work for 3-5 years opportunity cost of 150k to 250k for a 30 per year raise? Yeah no. Heck no with the amount of student loans you guys have already incurred. 