When Professional Degrees Are Worth The Cost – Guest Post
Read the Wall Street Journal or New York Times, and you will likely find articles on the “law school loan” bubble that now exists. There seems to be a flurry of opinions from journalists that too many law students are taking out loans to attend law school, and that these students will have too few job options upon graduation.
The truth is that many of these claims are unfounded and are used to keep the legal profession as a “cartel”. For the person who has always had a true desire to attend law school, financial assistance such as Discover law loans provides one with what may be the only opportunity one has to go to law school. Here are a few additional considerations:
A student will usually have to fill out the FAFSA to qualify for loans for law school. The FAFSA is the free application for student aid from the government. It should be filled out before a specific deadline. You will likely want to consider both federal loans, such as the Stafford, and private loans from banks and other financial institutions.
Professional Degrees: Are They Worth the Loans?
Professional degrees are worthwhile, even if you end up taking out $150,000 to $200,000 in loans. Professional degrees give you a degree that will have credibility for the rest of your life. You will be able to always get a job no matter what the market is like. In addition to a law degree, a medical degree is also a good investment. The medical field is poised to grow in the next 10 to 20 years. One will easily be able to find a job with a medical degree.
A Master’s Degree in Business Administration is also a degree that is worth the risk of high interest loans. A couple of other degrees that are worth the risk are a Ph.D. program or a Master’s degree in Education. A Ph.D. program is essential for a person who wants to ultimately become a professor in his or her lifetime. Taking out loans for completion of this program is essential for a person to achieve this worthy and laudable goal.
Overall, professional degrees are worth the high cost of loans. No matter how saturated certain industries may be with people who have those degrees, they are valuable for the credibility, respect and opportunities that they
provide a person.
Alex Summers is a recent graduate from the University of Arkansas and is entering the foray of the world of writing.