Why a Master’s Degree is a Good Investment – and How to Pay for it

Man receiving college degree at graduation ceremony with inspirational quote
Man receiving college degree at graduation ceremony with inspirational quote

We get a lot of questions about finances and college, especially from adult learners who already have a Bachelor’s degree, but want to further their careers with a Master’s degree.

The first question is whether a Master’s degree is worth the investment. This is soon followed by questions about how to pay for it.

A Master’s degree is a good investment because it sets you apart from other applicants and can help you earn more money over the lifetime of your career. In fact, according to U.S. Census Bureau, completing your Master's degree can add up to more than a half million dollars more in earnings over a lifetime. More good news – there’s plenty of help out there for paying for college in the form of financial aid.

Aid can come from:

  • The U.S. federal government
  • The state where you live
  • Your employer

Aid From the Federal Government

  • Grants—financial aid that doesn’t have to be repaid
  • Loans— borrowed money you must repay with interest
  • Aid for serving in the military or for being the spouse or child of a veteran
  • Tax benefits for education
  • An Education Award for community service with AmeriCorps

Aid from Your State

Learn about grants, scholarships, and other financial aid for college students from the state, including federally supported state programs such as Byrd scholarships and LEAP (Leveraging Educational Assistance Partnership) grants.

Aid from Your Employer

Many employers offer tuition assistance programs. Talk to your human resources representative to learn about aid that could be available to you.

How SAU Makes Education Affordable

At Spring Arbor University, we make quality online education affordable for adults wishing to grow their careers. And we can walk alongside you with all the tools you need to make education a reality. Here’s more information.