Finding the financial means to go back to college and earn a master’s degree

December 22, 2011

If you have a bachelor's degree but are interested in furthering your career, you might want to return to school. However, it can be difficult to pay for a higher education, especially if you're still in debt from applying for education loans.

There are a few ways that you can make your dreams of earning a master's degree come true. First, consider deferring on your current student loans to return to school. This will relieve you of financial stress while you're back in college.

Next, apply for college grants, scholarships and financial aid to help you pay for tuition. These financial resources can help you reduce the cost of tuition and they do not have to be repaid over time.

If you want to curb your costs even more, you might want to consider enrolling in a part-time program or an accredited online school while you work on the side.

The U.S. Bureau of Labor Statistics found that in 2010, those who held a master's degree made an average of $1,272 weekly, which is approximately $300 more than those with a bachelor's degree.

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