by Alexandra Pauline – February 27, 2012
The Cost of Going Back to School
Investing your time and money in getting an advanced degree can be rewarding on many levels, but in the current economy is it worth the upfront costs and potential debt? If you’re thinking about going back to school, we’ve got some Fab & Fru advice to help you decide if a grad degree is right for you …and your budget!
Do Your Homework
There are many reasons to go back to school, but before you commit funds and time, ask yourself a few pertinent questions: What is your dream job? Is your chosen area of study an expertise that is in high demand? Can you get a graduate degree, or will you need to continue on the PhD path in order to secure the position you really want?
Once you’ve decided on your area of study, it is extremely important to assess your financial situation before applying to schools. What can you afford? Are you eligible for financial aid? Does the program you’re applying for leave you time to work to cover your living expenses? How much debt in student loans are you willing to accrue? And most importantly, will your investment advance your career in the direction you want to go, and how long will it take before you see the financial payoff? Figuring out how to finance your degree upfront is crucial to your long term success!
Employer Incentives for Education
If you work for a big company, make sure you do your research if you’re on the fast track to becoming an invaluable employee. Many companies are willing to at least partially finance your education – if you plan on bringing your knowledge back to the organization. Some employers may also offer an interest-free advance on your salary, with varying conditions, if they do not offer full or partial tuition reimbursement. Check in with your boss and see if you can take advantage of this Fab & Fru way to get your degree!
Scholarships for Scholars
Still wondering how you’re going to pay to go back to school? Did you know that grants and scholarships are not just available for undergraduates?! In fact, there are government, company and private trust scholarships for just about every demographic you can think of. If you are a single mother, a veteran, or a sorority sister, you may be eligible for some serious support. Check out Fastweb.com, one of the leading sites on scholarships and financial aid info!| Print
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