Earning an advanced degree can be a tremendous career booster for distance learning students. Enrolling in medical school, law school, or graduate school to pursue a post-graduate or professional degree could set you up for success.
An advanced degree can open many doors for you, and in some cases, has the potential to help you earn upward of six figures after college. Through careers in medicine, law, engineering, aerospace, and many others, you have the chance to make a positive and far-reaching impact on the world.
So, is it worth it to pursue an advanced degree in college? Let’s look at a few important considerations you needs to keep in mind while making the decision.
1. Extra time spent in school
It takes two to four years to earn an undergraduate degree, depending on what you chooses to study. An advanced degree takes significantly longer than the initial degree.
Here’s a quick snapshot of how long it takes to earn certain common post-graduate degrees:
- Law: 3 years
- Master’s degree: up to 2 years
- Medicine: 4 years plus residency (up to 7 additional years)
- Nurse Practitioner: 2 to 4 years
- Ph.D.: 8 years, on average, after earning a Master’s
You will want to consider the amount of time it takes to earn a chosen degree. While many advanced degrees are worth the time and effort required, some are not—and it will be important to know which degrees are the most lucrative.
2. Expense
Depending on the degree you choose, post-graduate education costs significantly more than an undergraduate degree. Graduate degrees can cost tens to hundreds of thousands of dollars in student loans, depending on a number of factors, including:
- The school you attend and any name recognition associated with it
- The degree you pursue (for example, a Ph.D. costs more than a Master’s degree)
- The location of your college
Thankfully, certain financial aid programs, such as getting a graduate assistantship, are available to some students to lighten the financial burden.
3. Return on investment (ROI)
Graduate school will likely leave you with a significant amount of student loan debt. Because of this, it’s important that you focus on a course of study in a lucrative field that will help you pay back loans over time.
Choosing an advanced degree that will prepare you for financial success is extremely important. You can find resources on high-paying advanced degrees here, here, and here.
Some professions that require graduate degrees and pay well include:
- Physician
- Lawyer
- Dentist
- Nurse anesthetist
- Aerospace engineer
- Computer scientist
- Optometrist
- MBA
- Pharmacist
4. Long-term career viability
When it comes to an advanced degree, high ROI goes hand-in-hand with the idea of choosing a degree with long-term career viability. You need to gather as much information as possible regarding how viable your degree may be in years to come.
Another way to think about this is to consider whether the degree is likely to be recession-proof. If you choose to study law, medicine, or IT, for example, you are more likely to be able to continue working even in difficult economic times.
It takes many years to earn an advanced graduate degree. Look for a field that will stand the test of time—the investment could absolutely be worth it.
The bottom line
There are many factors to consider as you make all-important career decisions that will impact your adult life. Earning an advanced degree could be an excellent opportunity for you to excel and share your unique gifts with others.
If you as a distance learner decide to pursue an advanced degree in college, then choosing a viable career with a good ROI is crucial, no matter what. As you make decisions on where to enroll, take overall expenses, student loan debt, and the time required to earn the degree into account. All those factors will help you choose the right graduate school.