at 52, is it worth going back to college to get a masters degree and $25,000 debt?

Answer 1

In general, education is the best investment you can make. $25,000 isn't that much money assuming you are able to get a higher salary after graduation.

Factors to consider:
How much longer do you plan to work?
Will you be happier?
Will you make more?
How soon can you expect your new (higher) salary to pay off the debt?

Answer 2

I'm 52. I got my Master's when I was 45.

Have you already invested and put away some cash from you first career? If you have done the research on several companies who have given you indications that they would hire you after you received your master's; and, if you have an indication that those companies' salary structures with benefits and "perks" are at least double the amount you will spend to get your master's then the sheep skin will be worth the time, effort and cash layout.

Just a word of warning though----Pay for the degree in pieces, and pay as you go. That way, you don't go into debt.

Go for it. Education is never lost. If this is what you feel passionate about doing, then pray about it, do the leg work, do your research, knock on some doors, ask some corporate HR people some questions. If you still get a good feeling about it, then rock on!

Answer 3

I don't know what kind of masters programs people are shovelling money out for. Business maybe? In liberal arts and science fields, you generally go for free (and they pay you) so long as you teach a class or lab or become a research assistant. And sometimes it's still free even if you don't. Unless you mean you'll go into debt because you'll be paid $25,000 less over those two years for your stipend than what you're making now in your full-time job, which is quite possible. Then again, I'm not sure if part-timers have that option, and it'd make sense not to want to quit your job for school and lose on retirement or something.

Of course if it's for business, looking for better job opportunities, and you're having to pay the whole thing, you might check with your employer to see if an MBA will significantly increase your salary or opportunities for advancement.

52's not too old. Whether it's worth it depends on why you're doing it and how.

Answer 4

I am a strong proponent for life long learning and enhancing your mind. I would definitely say go for it. With our society, you will probably not be eligible to retire really and live comfortably until 65 or 70. At 52 you could get your Masters by 55 or 57 at the latest and work at least a decade doing whatever you are planning to pursue. But first research how much money you can plan to make with your particular Masters degree and see if it would provide you with a salary that will make it able for you to live the lifestyle you are expecting and allow you to pay back your student loan.

Answer 5

Very, Very Tough Question! It will only be worth $25,000.00 of dept if you find a high paying job. There are no guarantees of getting any job with a college degree not to mention a high paying job. I know many many people with the same low paying jobs they had before they started college. It is really very sad that they had to work so hard for nothing! $25,000.00 is a hell of a lot of money for information you can find in a book. I say it is too much money for information. I don't really approve of America's educational system. I've been through it and I do not know much more now than I did before I started. Everything I did learn I could have learn at home by just reading the book.

Answer 6

Depends on what you're getting a masters degree. I have 25 years of business experience and an MBA and I'm having a lot of trouble finding a job in my field (Human Resources) and a big part of that is because I'm over fifty. So if you are planning to go the corporate route, I would say it's not worth it.

Answer 7

No degree is valueless, who ever reported that don't have one or in the event that they do they cant get a activity and has gotten somewhat discouraged... i will admit i do no longer use my degree yet I wont say its ineffective that's a accomplishment in my existence and that i will aways fall decrease back on it while cases get tough and the better the degree the extra proper. I even have been became down a number of cases because of the fact I basically have an pals degree. And as far because of the fact the debt is going your education pays to your debt in case you elect the proper container and activity. you will make far extra funds then your debt in case you nonetheless take care of your cash good! 2 affiliate stages wellness service Mgmt and Nursing plus I wanna circulate decrease back to enhance! (on line basically can't do the claassroom ingredient anymore)

Answer 8

It is worth it if that is what you really want to do and your heart is right about it. If so, then go for it and somehow it will all work out. I started school again and earned my BA degree 2 years ago at the age of 41. I made it through and did not have any school debt when I got out.

Answer 9

It depends on whether there would be a big enough career payoff to offset the debt and interest on the debt. If you are planning to work until you are 72 you might break even in most careers and end up with a better retirement package.

I personally would invest in a motorcycle and a good road trip!

Answer 10

If you're getting your masters for a particular reason, then yes. Sometimes getting that degree will increase your pay, just because you have it...such as being a teacher. But if $25,000 is worth it to you to have that degree, then I say go for it!!