How much does it cost?

[yenni]

Sarcasm mostly.

At any rate

Believe me I wish I didn't have to get some fancy pants degree, but this country of ours seems to think I need one in order go around giving art therapy to folks.

[rameumptom]

Miss Halfway,

It would depend on what the Master's Degree is in. If it is in a field where you could quickly repay the loans within a few years afterwards, it would probably be worth it. However, I've known some who earned advanced degrees in fields where they will never make a nice enough salary to ever easily pay off their student loans.

$40,000 is reasonable for some fields, but not all. Research the job markets for the fields you are looking at, see if there are lots of available jobs and whether they pay a good enough wage in their location to easily allow you to repay the loans.

For instance, I would not pay $40,000 for a Master's Degree to simply advance my education as a school teacher. You'd never recover from such a debt. However, if you were getting and advanced degree in Math or hard sciences, a highpaying job position could easily be worth it in the long run.

BTW, I spent about $12K for my Masters Degree in Teaching/History (graduated 1999).

[Misshalfway]

Originally Posted by nbblood

I have my share of certificates hanging on the wall. The best educational experiences of my life are not reflected by any of them.

Except that they don't always help bring home the bacon.

[Misshalfway]

Miss Halfway,

It would depend on what the Master's Degree is in. If it is in a field where you could quickly repay the loans within a few years afterwards, it would probably be worth it. However, I've known some who earned advanced degrees in fields where they will never make a nice enough salary to ever easily pay off their student loans.

$40,000 is reasonable for some fields, but not all. Research the job markets for the fields you are looking at, see if there are lots of available jobs and whether they pay a good enough wage in their location to easily allow you to repay the loans.

For instance, I would not pay $40,000 for a Master's Degree to simply advance my education as a school teacher. You'd never recover from such a debt. However, if you were getting and advanced degree in Math or hard sciences, a highpaying job position could easily be worth it in the long run.

BTW, I spent about $12K for my Masters Degree in Teaching/History (graduated 1999).

I applied to my masters program this week and everything is a go.......except that I can't stomach the tuition. And I am told by the financial aid girl that the tuition is scheduled to go up every fall by at least 4%. Last year it went up 10%. The 40k doesn't include books and other fees.

Edited January 17, 2010 by Misshalfway

[Gatorman]

<== Bill Gates Plan of Education...

I will not ever knock down education that is used for good purposes. When education and intelligence are used to prove someones superiority and greatness and put others down, like so many of the 'elite' out there, it is a waste of money. However, I have no degree, no full college education, and I do quite well. I am able to articulate myself well to people who have a desire to understand, rather than simply pass judgement. So, the answer to your question becomes a ROI question. Can you repay this amount in a short period of time and will it allow you to do something you truly want to do that could not be achieved in other reasonable ways?

[striving]

Yep- 40K is a good deal, but I think it depends on the degree and the school. MBA was $45K and we thought that was pretty good.