Earning a doctoral degrees can yield financial benefits

January 25, 2012

If you're interested in furthering your education with a doctoral degree, you know how much it can cost to return to school. Although there is federal financial aid available to students who qualify, it can be difficult to curb the cost of tuition if you don't have a steady stream of income.

Many people choose to work toward a doctoral degree for the financial benefits that come with having this higher form of education. In 2010, the U.S. Bureau of Labor Statistics reported that individuals with a doctoral degree took home an average of $1,550 per week. This is a notable jump from the $1,038 that people made per week with a bachelor's degree.

While it can take some time and money to go to school for a doctoral degree, there are many financial resources you can take advantage of to help you along the way. College grants and scholarships can be a viable way to pay for tuition and avoid falling into debt. Best of all, this money does not have to be paid back in the future.

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