Post # 1
I will be graduating with my bachelors in management in May. I am an adult student (31) and am trying to decide if I should persue my masters, and if it would be worth it. I work full time as a loan underwriter, and am pretty burnt out from all the work with my bachelors. I suppose I could take less classes per semester. I currently owe about $45,000 in student loan debt and the masters would add about 30k more. Any thoughts?
Post # 3
If it were me, I would work on moving up in your current company first. If they want you to get more education then they may pay for it down the line.
Post # 4
Honestly, there is no room for growth. They are actually cutting everywhere they can. And in the policy they do not contribute anything towards a masters.
Post # 5
Do you have a purpose for getting the Masters or you just like being a student? I would try to pay some loans off first unless you think you’ll definitely be able to get a job with the Masters right away. I’d hate to do all that work for it to go nowhere.
Post # 6
If you are switching companies, I would wait to see if the new place would cover it. If you are switching careers, then check to see the requirements/basics needed for that career.
Post # 7
@Tropicalbride: I am a college counselor. You should only go back for your masters if you NEED it. Is there room for growth without the masters? If so, don’t get it. You can always get it at a later time. But there is no reason for you to nearly double your debt if it won’t guarentee you job growth.
Post # 8
If you’re already feeling burnout from work and undergrad, it ain’t get any better in grad school! I am currently in grad school (working on my thesis) and I am so tired and stressed! I would say to maybe take some time off of school or limit your work because something’s gotta give. Hope it all works out! 🙂
Post # 9
Yeah, avoid going for your Master’s right now. JrzyGurl took the words out of my mouth.
Paying the loans off is enough of a pain. Are these federal loans? I’m not sure if they still offer it, but a few years back I was able to pick the “Income Contingency Repayment Plan.” In other words, monthly payments were based on my income. I haven’t had to pay anything for the last few years (too poor, I guess :D).
I had far less in loan debt than you, and without the ICR plan, my payments were going to be about $300/mo. for the next 10 years (I graduated with about $24k in debt).
Pay off the degree you have and consider going back. In the meantime, start researching grants and fellowships that could fund a Master’s if ever you wanted to go back.
Post # 10
I made a mistake getting my master’s degree. I’m in animation and it’s completely useless because animators don’t care about papers. It’s only useful if you want to teach, which I have no intention of doing. But I guess it’s good for fallback.
Post # 11
I think you have enough $ that you owe. Why add more? You can always go back to school.