Grad School Payoff

Going to graduate school and earning your masters degree or PhD is a big decision to make after you graduate with your bachelors degree. US news and world report posted some information on having a graduate degree.

Those who finish their grad degrees also tend to earn bigger paychecks. The average worker with a college degree earns about $42,000 a year. Master's degree recipients earn an average of $52,000. Ph.D.'s earn an average of about $71,000 a year. And those who've earned professional degrees such as law or medicine earn an average of about $82,000.

But since grad courses can be expensive, and most students have to borrow to pay at least some of their tuition, it would be foolish not to at least consider the financial costs against the financial benefits.

So before you commit to a program, or an education loan, check out:

* What salaries people in your intended field are earning.
* What your monthly payments will be on your student loans.
* How quickly graduates from your school got jobs.
* What salaries graduates from your program are earning.

The eventual payoff of your advanced degree can be worth it depending on where you live and what you plan to do. Earning a graduate degree online is also an option for students that need to work and go to school. This can allow you to finish your advanced degree while working, or taking care of your family.

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