As increasing energy costs, layoffs, and foreclosures touch almost every American life, many are exploring ways to turn negatives—like job losses and pay decreases—into positives by heading back to school to wait out the recession.
No Time like the Present
In these financially uncertain times, graduate school education can provide a safe haven for people who:
- Started a degree but never finished, and are concerned that their options might be limited.
- Know that an advanced degree translates to higher pay and increased opportunity in every industry.
- Have been laid off and are unsure about the next step.
- Are worried about being overlooked for promotion in favor of colleagues with more education.
- Are interested moving from an obsolete industry to an up-and-coming field, but lack the skills.
The Perks of an Advanced Degree
For many people, the hardest part is finding the motivation to achieve their academic goals. There are a million excuses we use to put off returning to school, but ultimately, none is pressing enough to forego a rewarding education. Are you…
- Too busy? Everyone is busy. That's why today's schools offer a variety of scheduling options for students with careers, families, and a host of other life obligations. You can even complete a degree from the comfort of home through online graduate programs.
- Nervous about being a nontraditional student? Nontraditional and adult students make up one of the fastest-growing campus demographics. And you can ask any college instructor—mature, serious students contribute a lot more than just tuition to the classroom dynamic.
- Worried about cost? Despite a dwindling U.S. economy, stimulus programs have made financial aid opportunities plentiful. If you've been furloughed or downsized, valuable scholarships and federal loans could actually be the key to staying afloat while weathering the economic storm.
- Afraid to accrue student debt? Many financial aid awards do not require repayment, but if you need to take out student loans, remember that you can usually defer repayment until well after graduation. Also, look into tuition reimbursement programs if you are currently employed, or seek a degree in a service-related industry (such as government, teaching, or medicine) that offers student loan forgiveness.
Eye on the Prize
The decision to further your education will almost certainly have a positive effect on your future. Whether you choose to remain in your current industry or delve into something new, you owe it to yourself to explore your options. Expanding your academic credentials will not only make you even more of a professional asset, but it will also pay off in increased confidence and a better outlook. Returning to education during difficult financial times is a great way to expand your professional network and increase your earning power for a brighter economic future.
By Hannah Roberts, staff writer
