So you’ve been thinking about going back to school. Whether you’re browsing programs online, studying for admissions exams, or already filling out your applications, it is important to take a minute and think about your decision. Here are a few questions to ask yourself before you take the plunge.
1. Why am I Thinking of Going Back to School?
Are you passionate about your current field or a field outside your bachelor’s degree? Are you looking for a higher earning potential? Are you looking to push your career to a new level? Are you looking to learn new skills? Do you need further academic credentials to advance in your field? These are all great reasons to pursue a master’s degree If you have a passing interest in a subject, looking to postpone your entry into the “real world” by staying in school, or do not know you want to study, then it may be in your best interest to put more thought into the direction of your career and explore different options
2. Am I prepared to sacrifice my time?
Between studying, attending your classes, and potentially working part-time, be prepared to sacrifice a lot of time and energy to achieve your degree. And of course, you also want to spend time with family and friends. While advancing your knowledge and moving forward in your career are laudable goals, you are going to have to make your program one of your top priorities if you want to do well. It’s important that you think about how much motivation you have and whether you’re ready to fully dive in.
Learn more tips on time management from Forbes.
3. Am I Prepared Financially?
Whether you are entering graduate school anticipating additional debt or coming in with your undergraduate loans fully paid off, it is important that you do a cost-benefit analysis. Will potential rewards, whether they be a salary increase or a promotion, be worth the costs you have to bear while you are in school?
Graduate school tuition can be daunting, but you will also have to factor living expenses such as housing, groceries, and transportation into your budget. (In a city like Boston, these expenses can add up quickly!) . It’s also important to consider your current debt. While you will be able to put off payments while you are in school, you will have resume payments once you graduate and if you have borrowed loans for graduate school, you will have to take on those payments as well.
Are you in a place in your life where you are able to face these costs? Do you anticipate any major expenses (buying a home, medical events, etc.) in the near future? While money shouldn’t deter you from your dreams, it’s important to take your financial situation into account when you are thinking about graduate school.
Learn more about financing your education from our financial aid office to learn more about Fisher’s scholarship and loan options.
All that being said, furthering your education gives you the opportunity to enrich your mind and can open a lot of doors socially and professionally. You have a lot to gain by going for it when you’re ready.
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