The current job climate is driving many people to go back to school, with the number of 50- to 64-year-old students climbing fast. Even people with jobs are taking classes, either to hang onto their jobs or prepare for their next ones.
Should you? Some great advice from SmartMoney magazine:
1. Do a cost-benefit analysis, says Mark Kantrowitz, publisher of Fastweb.com. Don’t take on more debt than the starting salary you expect to earn after the degree, he says.
2. Consider how long you’ll work. “If you’re planning to work for another 10 to 15 years, it’s easier to amortize the costs,” says Marci Alboher, of Civic Ventures.
3. Save money by sitting in on classes free, if there’s space available, says Kantrowitz.
4. Request tuition assistance. Most employers offer it, according to a 2010 survey by the Society for Human Resource Management.
— Adapted from “Is Going Back to School Over 50 Worth It?” Catey Hill, SmartMoney.