Reply to Financially hobbled for life- elite masters degree that don’t pay off

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[quote=Anonymous][quote=Anonymous]In my twenties, colleagues and supervisors suggested to me I should get a MFA—in the field I was already working in? I couldn’t see the point of going into debt for an expensive degree when I was already earning money and building my portfolio. I think there is a mentality in UMC east coasters that advanced degrees are always desirable even when not necessary.

I unfortunately know several people with high debt from expensive masters degrees in the arts that have done little for them.

I grew up poor. I have a bigger fear of big debt than many of my colleagues. [/quote]

I grew up poor, and focused on a career ready bachelors, but I would have blindly gone into student debt for advanced degree because student debt was “good debt” for a LONG time, and the cost of living in a place with decent jobs was COMPLETELY unknown to me. $40k/year? My parents house sold for $60k in 2015, so hearing that I would make $40k and have some flexible but large debt (deferment, income based payments etc) would not have registered in my mind as a problem, if I was doing what I love (“follow your passion and money will follow”) and going to reputable academic institution.

It was only my personal aversion to debt that really saved me, but I did buy a house way late because mortgages freak me out. [/quote]

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