u/GoFergie

I have a sudden urge to do my PHD and pursue a career in academia.

BUT I am already in so much debt from my undergrad / masters degree. I have a young child and a mortgage: I don't have savings.

Am I dumb? I have an office job but it really doesn't fulfill me, however, I get by and it is WFH mostly so allows me to have time with my child.

Can anyone tell me realistically what doing a PhD looks like at this time in life; financially, in terms of family time etc?