Cost & Value of a Masters Degree

Many people think they getting a masters degree is expensive. While I wouldn’t say that they are cheap, some degrees offer significant value. The amount you pay for a degree does not necessarily correspond to the academic value of that degree. Some colleges and universities are very expensive and have less than stellar academic rigor. There are other universities that are relatively inexpensive but maintain a very high academic standard and corresponding reputation.

Harvard business school is generally considered the best place to get your MBA in the country if not the world. However it is the least expensive of the top three MBA schools.

They’re a handful of for-profit universities that offer their courses nearly entirely online. Cappella University and University of Phoenix are examples. What’s odd is that many of these schools tuition is far greater than the tuition for Harvard’s Extension School. So it pays to spend some time finding the school with the best value for what you are willing to spend. The expensive schools may be a horrible deal although less expensive ones may offer the best value and the most widely recognized degree.

On average a master’s degree is worth over $1 million in total career earning beyond a high school graduate. This makes $10-$30,000 spent on a graduate degree seem much less expensive.

Of course the $1 million is simply an average. If you are a hard worker and choose a good field you could do significant way better than that. If you are poor worker and get a useless degree it may not help you much.

Masters programs generally require 40 to 60 hours of classes. Some are less. Some are significantly more. The cost for an hour generally ranges from $300-$1000. State school out-of-state tuition is generally in the $400-$600 range. While these are not trifling sums, they are not completely outrageous either.

With careful planning and an astute selection of your degree, you can find a programming University that will maximize your academic experience while minimizing the dancing your pocketbook.

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