Can I Escape Poverty with a PhD in Mathematics?

In summary, the conversation discussed financial struggles and the pursuit of higher education. The individual expressed concern about being in a difficult financial situation and relying on family for support, while also planning to attend grad school for a Ph.D. in Mathematics. Others suggested applying for financial aid and taking advantage of opportunities for paid research and teaching positions as a graduate student.
  • #1
JasonJo
429
2
Hey guys, I am wondering if any of you are unfortunately in my situation and are poor.

My parents barely scrape by and my brother is currently going to grad school for his MBA, so he won't be able to help out for another 3.5 years. my parents are about 58 years old. It saddens me that they have to live in poverty.

I plan on going to grad school for my Ph. D in Mathematics. I'm just wondering, how soon will it be before I actually can start making a living and not eating out of cans to survive?

Not that it will deter me, I'll eat out of the garbage if that's what it takes. I am just curious. I would like to be able to help out a little bit.
 
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  • #2
Have you applied for financial aid (FAFSA, scholarships, etc.)? You can get quite a bit of "free money" from federal and state grants if you qualify. I was awarded something to the tune of $8,000 no strings attached money for this year, plus another $4,000 in subsidised loans (the fed pays my interest payments as long as I'm in school). There are also work study programs where you can get paid to do research, even as an undergrad, and of course there are always unsubsidised student loans.

As a grad student most places will pay you for TAing or assisting with research, I believe the amount varies from institution to institution.
 
  • #3
Yah I've always been told that unless you're going to a poor university or one of the top universities in the country (odd eh? hehe), you'll have positions open for Teaching assistanceships and research assistanceships that'll pretty much give you enough money to live off of.
 

1. Can a PhD in Mathematics help me escape poverty?

While a PhD in Mathematics can certainly open up many career opportunities and potentially lead to a higher salary, it is not a guarantee for escaping poverty. Other factors such as job market demand, location, and personal circumstances also play a significant role.

2. Are there specific industries or fields where a PhD in Mathematics can lead to higher paying jobs?

Yes, there are several industries and fields where a PhD in Mathematics is highly valued and can lead to higher paying jobs. These include finance, data science, technology, and research positions in various industries.

3. How long does it typically take to earn a PhD in Mathematics?

The length of time to earn a PhD in Mathematics can vary, but on average it takes about 4-6 years of full-time study. This may also depend on the individual's research topic, progress, and any additional requirements from their program.

4. Can I pursue a PhD in Mathematics while working a full-time job?

It is possible to pursue a PhD in Mathematics while working a full-time job, but it can be challenging to balance both commitments. Many PhD programs require a significant amount of time and effort, so it is important to carefully consider if this is a feasible option for you.

5. Are there any financial aid or funding opportunities for PhD students in Mathematics?

Many universities and research institutions offer financial aid and funding opportunities for PhD students in Mathematics. These can include scholarships, grants, and teaching or research assistantships. It is best to check with your specific program or institution for more information on available funding options.

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