Moms Returning to College

We all know more education equals higher income and lower levels of unemployment. See: The Difference a Degree Makes in Unemployment Levels

Baby boomer will begin retiring over the next five years increasing job vacancies. This is just in time for moms entering a two-year graduate program now. In some fields, however, it may be best or even necessary to get a few years of job experience before applying for grad school.

Assuming positions are available, a master’s degree will lead to higher income. Just how much higher depends on the field. If you’re a mom considering grad school, it is essential to understand the expectations and use proven strategies to meet the demands of both school and family.

Moms Returning to College for Their Master’s Degree

Although Pell grants are still available for undergraduate expenses, graduate school is not covered. Adding up tuition, books, living expenses, and lost income will take the bill anywhere from $30,000 to $200,000 for a two-year program. The good news is that the average grad student can expect this investment to pay for itself in between three and five years with pay increases ranging from 10-300 percent.

Here’s the income difference for a few careers.

Elementary teachers can expect an average boost of over $10,000 with a master’s degree.
Degrees in accounting gross an average $45,893 and jump to $50,468 with a master’s.
IT and computer-related fields are growing, and they can return a huge increase of over $20,000 with graduate degree.
With a master’s in the arts and humanities, you can expect an average $7,000 boost in income over your four-year degree income.
Getting through grad school with a family is not easy, and you’ll benefit by knowing the demands upfront. [Read more…] about Returning to College for a Higher Degree?