To What Degree...

When does it make sense to go back to school?  There is no disputing that higher education can be an invaluable stepping-stone in the quest to establish a successful career and land a great job.  But a degree is not the right choice for everyone.  Here are some considerations to explore, before taking the leap into a degree program...

• You've researched your major and there's a growing demand in your new field.  It is always important to choose a field that interests you, but what good does that do you if it's a dying art?  Check out the Labor Statistics to see what fields are in high demand, currently nursing, computer software engineering, techology network systems, accounting, data communications and auditing are topping the list and demand will increase over time. 
• You don't bury yourself in debt.  Student loans are no joke, especially if you borrow more than you can afford.  A good rule of thumb is to never borrow more than you can expect to earn in your first year of employment.  Explore your companies tuition reimbursement/remission policies.  Are you eligible for state grants or scholarships? School administrators will try to convince you to take on more debt - than you can afford -don't do it.  An easy way to figure out the going rate for your field is to visit Salary.com there you can get an idea of what employers are paying in your field in your city.  It's the best way to make an educated decision about how much you can afford to borrow.  
• You don't need to dip into your emergency savings.  School is a choice, it is not a necessity.  There are plenty of successful people without degrees in good paying jobs in a variety of industries.  I'm sure you know a few, I know I do.  A degree is no guarantee that you will land a good job or even get paid a decent salary.  A job search can take several months and even then entry-level jobs pay at the bottom of the salary scale for your industry.  So remember, save your emergency stash for when you really need it.
• An accelerated degree is not all it's cracked up to be.  Not all degrees are equal.  Accelerated degrees often times comes with a hefty price tag, sometimes as much a four times what you would spend on a regular degree at your local state college.  Research the college's reputation, it's accreditation and job placement services.  What rating does it hold in the Peterson's Guide or USA World News Report?  How well do employers value an accelerated degree from the school of your choice.  Bottom line, do your homework before you enroll.