How Long Will it Take an Online Degree to Pay for Itself?
Sep 2nd, 2007
I know several students who've spent thousands of dollars in tuition, only to find they'll be in debt for the next thirty years.
Spending $100,000 for a law degree or medical doctorate may be worth it. Spending $100,000 for a BA in history or education is often a bad idea.
A recent eLearners article takes a look at how long it takes for degrees to pay for themselves. Here's an example of one of their case studies:
"A Marketing Coordinator at a full service interactive marketing agency with a bachelor's degree makes about $37,000 per year. She has about six years of experience under her belt and is looking for a new challenge.A master's degree is generally "preferred" in order to be considered for most Marketing Manager positions. Marketing Managers holding an MBA degree earn upwards of $79,000.
M.B.A. Degree = $42,000 increased earnings per year or $3,500 more each month.
1. Four-year public school: The sticker price of a master's degree is $10,772 ($10,772 = $5,836 per year x 2 years). This means that it takes just 3.08 months for the MBA to pay for itself!
2. Four-year Private school: The sticker price of an master's degree is $44,436 ($44,436 = $22,218 per year x 2 years). This means that it takes only 12.70 months, or just over one year, for an advanced degree to pay for itself!
3. Bottom Line: Who says you can't afford an MBA? That MBA can pay for itself anywhere between 3 months and a year!"
Check out their full article for more case studies for professions such as information technology, education, and business: How Long Will it Take a Degree to Pay for Itself?
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