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?
Top Online Colleges
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Kaplan University - Associate's, Bachelor's, & Master's Degrees. Kaplan University is a dynamic institution that offers accredited, online degrees to students seeking to jump start a new career. Kaplan University makes it easy for students to get the college degree that they want.
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Ashford University - Associate's, Bachelor's, & Master's Degrees. Ashford University has a rich tradition of online educational excellence. This excellence is shown in the quality of each class that every student receives.
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University of Phoenix - Associate's, Bachelor's, Master's, & Doctoral Degrees. University of Phoenix shows each student how easy and convenient it is to earn your college degree through their distance learning program. Students can choose to learn at home or from a campus location near you.
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Liberty University - Associate's, Bachelor's, & Master's Degrees. At Liberty University, students educational goals and needs are met by an outstanding faculty and support staff. Any adult learner looking to go back to school will be pleased with the course offerings available at Liberty University.
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American InterContinental University Online - Associate's, Bachelor's, & Master's Degrees. At American InterContinental University, every individual has an opporunity to receive an excellent college degree and the ability to maximize their human potential. American InterContinental University allows you to pick a time and place that fits your schedule.
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DeVry University - Associate's, Bachelor's, & Master's Degrees. Students who attend DeVry University are welcomed with an outstanding faculty who put each students needs and dreams first. DeVry University is an accredited university that offers affordable degrees.
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Everest University - Associate's, Bachelor's, & Master's Degrees. Everest University is committed to the on-going commitment of providing each student with a high-quality, low-cost online education. Everest University has a well rounded faculty with real world experience.
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Westwood College - Associate's & Bachelor's Degrees. Westwood College uses a student-centric approach to its educational curriculum and each student benefits from this ideal. Westwood College is an accredited university with degrees in high-growth industries.
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