The True Cost of Online Education

If you walk into any grocery store, you’ll see the same thing in almost every aisle: you’ll find “name-brand” choices, you’ll find generic products, and you’ll find multiple size options for nearly every product available. If you want a small bag of fruit, you can get it. If you want (or need) a large bag, you can get that, too. While it costs more on the front end, once you do the math you’ll see that the price per piece is actually better on the larger bag - - so if you need that much fruit, it’s really the only way to go! I’d like to suggest to you that your education works the same way - - the more education you have, the higher your potential earning power tends to be, and so while it costs more on the front end, the pay-off in the end is more than worth it!

Many people stop pursuing their education beyond certain levels because it is either too expensive, too difficult, or they get another job, begin raising a family, or some other change in life happens that puts the books on the proverbial back burner. But it is amazing to consider what has happened in the other cases, the ones where people went for online masters degrees or completed a similar program. I single out the online programs because they are meeting a tremendous need in the life of modern, working adults - - they are convenient, and they move at your pace, allowing you to tailor them to your schedule. Students who earn these degrees can expect to make approximately $2.5 million over their working years, and the increase is sharp as you go up the educational ladder. Just consider the following average earning expectancies for students who complete school at the following levels:

++ High School Grad - $1.3 million

++ Bachelor’s Degree - $2.1 million

++ Master’s Degree - $2.5 million

++ Doctoral Degree - $3.4 million

There it is, in the plainest way possible: while earning your degree is by no means a free or easy endeavor, it certainly pays off at every level! This is not to say that “stopping” at a certain point with a certain degree is a bad thing, but it does underscore an important reason for you to be planning ahead and aiming for the highest degree programs you feel capable of. The reality of it is this: even if earning your Master’s degree, be it online or on the traditional campus, wound up costing you close to $50,000 (find out more about the associate costs here), you’ll earn all of that back AND MORE during the years when you earn more after completing your chosen program.

Most importantly, remember to investigate and weigh all options before you begin applying for online graduate degree programs. Your circumstances are specific to you, and only you know what schools and what degree programs will be the best fit for you. But next time you are in the grocery store, take a look at the bulk items, take a moment to think about your educational future, and just remember: sometimes, the extra cost is worth it.

++ This guest blog post comes from Justin Laughridge of San Diego, CA. Thanks to Freefoto for the photo.