Factors to Consider Before Getting a Graduate Degree
When you’ve already got a bachelor’s degree, you may be trying to decide whether to go back to school or not. When faced with this decision, there are several factors that you’ll need to take into consideration. Instead of simply rushing back into a Masters or doctorate degree program, you should weigh your options carefully before making a decision.
1. What is Your Reasoning for Going Back?
In this situation, many people are unsure of what to do and so they simply go back to school because it seems like the logical next step in their life. Do not go back to college just for the sake of going back to college. Getting a Masters or doctorate degree should be a calculated step that you take as part of a comprehensive educational plan. It should not be just something to do while you’re killing time.
2. Finances
In addition to figuring out why you want to go back, you should also make sure that you can realistically afford to do so. Of course, you can always get student loans to pay for your school, but those can add up quickly. If you aren’t careful, you’ll be making large student loan payments until you die. Look at your finances and see if you can afford to pay for tuition or if you can qualify for some kind of scholarship or grant. If you’re employed, you may also want to check with your employer to see if they offer some kind of tuition reimbursement program for employees who are willing to take additional courses.
3. Earning Power
When making this decision, you should also find out if getting an extra degree could increase your earning power. In some industries, having a Masters or a doctorate could put you in another earning bracket compared to just having a bachelor’s degree. If so, it may be worth the time that it takes to go to college for another degree. If there isn’t much difference in salary between an MBA and someone with a bachelor’s you may want to just keep working instead of going back to school.
4. Life Factors
As part of this decision, you should also look closely at your personal situation. The timing needs to be right for this decision. For example, if you are about to have your third small child and you’re working a full-time job, now might not be the best time to go back to school. In this situation, you may need to wait a few years until the kids are in school so that you have a bit more free-time to go to class.
5. Finding the Right School
You’ll also need to determine if the right school that you need to attend is within your area. Sometimes, the right school will offer online courses or distance learning courses that you can take. In other situations, you would have to move to take classes at the school you need. Compare this to your family situation to determine if it would be a wise move.
Making the decision to go back to school is not an easy one. Before rushing to a decision, think about whether it is truly in your best interest or if you’re just trying to do it for notoriety purposes. If you really need the degree, make the decision and get started.
about the author
Kathy Schwarz is a career counselor and in her spare time she blogs for topcollegesonline.org, a site she often recommends to those who are interested in finding out more about which are the best online colleges.