Do you think earning a college degree is good idea as tuition fees in universities are rising continuously? Can business degree be helpful for your career when you will be burdened with a heavy student debt? I am sure now you will think twice about going to college.
Avoiding Student Debt
Nowadays it has almost become mandatory to take loans in order to pursue higher education. As a result, your net worth will get affected due to your student debt and you will end up paying back your debt till your retirement. Now that’s not a very optimistic picture. I guess this is the reason why most students these days are now opting for online education programmes. The demand for online learning has increased so much that most reputed brick-and-mortar B-schools are now offering their business management programmes online.
I believe pursuing an online business degree is the best way for you to earn an accredited qualification without getting burdened by crippling student loan. Why? Let’s take a look….
Your Debt Vs. Your Career
A new report from Federal Reserve Bank of New York researchers Richard Deitz and Jaison R. Abel claims that college education is still a solid investment as now you can recover your investment in fewer years than before. Although it took around 25 years to pay back your debt, now you can earn back your investment for your degree in just 10 years on average.
The researchers state “Despite the challenges facing today’s college graduates, the value of a college degree has remained near its all-time high, while the time required to recoup the costs of the degree has remained near its all-time low.”
What Is The Value Of Your Degree?
Although it may sound hopeful, the time-frame of 10 years has not really changed since the 1990s. Moreover, the value of college education has failed to augment since the year 2000. In fact, the value of a degree has started to decrease recently. Deitz and Abel add “We estimate that the value of a college degree fell from about $120,000 in the early 1970s to about $80,000 in the early 1980s, before more than tripling to nearly $300,000 by the late 1990s, where it has remained, more or less, ever since.”
The duo further state “It’s possible that some part of what we estimate as the value of a college degree isn’t driven by the skills an individual acquires while in college: people who earn a college degree may simply differ in their innate skills and abilities from those who don’t obtain a degree.”
The researchers claim that you can still make a great career without taking out a huge loan and going to college. Richard Deitz and Jaison R. Abel state “Maybe some college graduates would have earned higher wages even if they had never gone to college. Separating out these two effects in research studies is extremely difficult.”
Way To A Debt-Free Degree
So what is the best way to get a debt-free education? The answer is right in front of you. Simply go for an online programme from an international school of business if you wish to earn an accredited business degree and build a rewarding career in today’s corporate world.
It will help you acquire the necessary skills and knowledge without shelling out excessive cash. As I said earlier, many reputed universities and colleges are now offering world class business programmes online. So you will receive high quality education and a recognised qualification that will be accepted by employers worldwide.
Studying from a reputed online international school of business will offer various academic, professional and economic benefits. Apart from avoiding student debts, you will also be able to earn money while you study. As online business programmes are highly flexible and do not adhere to any scheduled routine, you can choose to work full time and gain relevant work experience in your desired field. This will enable you to face real corporate challenges and help you acquire skills that no traditional business school will offer.
Online study empowers you to develop a better attitude and improve your soft skills and critical thinking abilities by allowing you to grind it out in the field while you study. You will learn skills and acquire unique and specific knowledge that polished classrooms of B-schools can’t teach you. Perhaps this is the main reason why many Millennials around the world are opting for online business programmes.
What do you think? Do you want to share your own ideas about debt-free education? Then feel free to comment below.