PP here - and having grown up in poverty as well, there is nothing that gives you more security than a good education. It gives you vastly more choices.

You are in your thirties you say. So you could spend the next 30-40 years doing something you don't particularly like, being limited in your career progression and wishing you had gone back to school. Or you could go back to school. I don't think it's an issue of money. It's a quality of life issue and I have never once in all my years regretted doing my masters in a subject I love.

Could you do it part-time at night?

I did my MBA in the evenings in my early 30's and it was a tough 2.5 years but ultimately worth it. I chose a good local program so I didn't have to quit my job and sell or rent out my house. I do probably make more money than I would have otherwise, and I learned a lot and made some new friends. So I don't regret it at all.

You also have to factor in how long it would take you to earn this degree and the lost income from quitting your job to get it.

Let's say you earn 75K as a speech pathologist and you earn 50K now in your current job. So getting the degree in 2 years will cost you 100K in lost income + 60K in schooling costs. You will make 25K more a year, so after you graduate you will be ahead in 7 years or so. Until then you would have been better off financially keeping your current job.

Anonymous wrote:Is that for a state school? I got my Masters degree at a state school, part time while I continued to work.It cost around $15k (3 years ago)
Also, can you find a job that will pay for some of your grad school?

Yes it is. There are not jobs that pay for this masters unless you're a special ed teacher with years and years of experience and you get lucky and your district wants to pay for it.. and then you must commit to working for them for x amount of years. That's pretty much the going rate for this degree. It doesn't cost 15k any year and it's a two year intensive program.

Anonymous wrote:

Anonymous wrote:will your husband have an income while you study? if so not let ndulgent at all

I'm my married.

*not
And speech pathology is notoriously difficult so I'm not sure why you would call this indulgent.

Anonymous wrote:will your husband have an income while you study? if so not let ndulgent at all

I'm my married.

Is that for a state school? I got my Masters degree at a state school, part time while I continued to work.It cost around $15k (3 years ago)
Also, can you find a job that will pay for some of your grad school?

will your husband have an income while you study? if so not let ndulgent at all

If you are truly 'early' thirties and have 410k saved up, 60k is pocket change for a more fulfilling career. IMO!

It will cost 40-60k. I don't need to take out student loans for it. I'll make around 70-80k when I'm finished.

With any education, especially graduate degrees, you should calculate the
Return on Investment

You should be able to pay off your additional education costs within 5-7 years, or don't bother

How much more will you make with this degree?

How much more wil you make with that degree? That's an expensive degree. I spent about 60k getting my law degree.

I am in my early 30s and have a bachelor's degree. I have a decent paying career, but I want to increase my salary and change fields. The field I'm interested in going in would require about 40-60k of additional education (speech pathology). I have 410k in savings and investments. But I'm afraid to spend my money on education because of past experiences of living in poverty. I am very frugal to the point that I spend as little as possible. I feel so guilty spending this money on an education. Is it okay to invest the money on further education? Part of me says yes and the other part of me says no.