Risks and Rewards of Going Back to School

Ten years may have passed since you last crammed for finals, but dreams of a new career are still twinkling on the horizon. Whether you want to become more valuable to your current employer or to turn your passion into a profession, you still might wonder whether continuing your education is a smart move right now. So before you take the higher-education leap, try gathering the facts first.

Job Availability

Before you sign up for Graphic Design 101, do your homework. Are jobs available in your prospective field? Is the pay reasonable? Consider whether you'll be able to land a job when you graduate and what degree you will need. Talk to professionals in the field and check job sites to get a feel for salaries and openings, and then decide if your love of fine arts will still pay the bills.

Tuition Fruition

While it's a good idea to hone your skills and continue building your knowledge, tuition isn't free. Can your family finances handle the added burden? Student loans and government grants are an option, but grants won't cover the entire cost of tuition, and you eventually have to pay loans back. Keep in mind that there's a wealth of scholarships for most science- or math-related fields, so check out scholarship availability before making a move. Also keep in mind that colleges, universities and community colleges drastically vary in tuition fees. It's smart to scout out and compare costs per credit hour so you know what is (and isn't) within your budget.

Timing Is Everything

If you're a parent-especially a working one-you're probably wondering how you can possibly tackle one more commitment. Fortunately, college programs designed for adults are flexible. You can take a smaller course load, attend night classes or even participate in distance learning or telecommunication. Talk to your family about the time commitments of a potential school schedule and address any problems that might arise in your absence.

Upping the Ante

Your boss may have promoted Roger over you last year, but it might be time to level the playing field. With a new degree under your belt, your employer won't want to lose you to the other guy, now that you're the company's jack-of-all-trades. A wider skill set and knowledge base will almost guarantee you a higher salary. If you're unemployed or looking to switch careers, knowing that you have the most up-to-date training will give you the confidence to craft a killer resume, network, apply for jobs and ace interviews.

Bottom Line

Investing in your education is a smart move, and if you can swing it, by all means do so. But don't worry if going back to school isn't feasible right now. Plenty of successful professionals started their careers later in life, and so can you.