I can’t find a job! Should I go to grad school? | 05.21.10
If you’re currently unemployed (or underemployed), you aren’t alone. Although the economy is beginning to recover from the recent global recession, many college graduates are still finding it very difficult to net a job. As it stands, the USA still hovers close to a 10% jobless rate. While this is improving slowly, it still does not change the level of competition in the marketplace.
If you are a recent graduate in this situation, odds are you have at least considered going to grad school to postpone your job search and deepen your skills. I graduated in 2009 and would like to share a few words of advice to help your decision-making process:
1) If you are a business major, an MBA program will be almost useless to you without full-time job experience.
Jarring I know, but it’s true. Fun fact: most admitted MBA students have an average of 3-4 years of work experience (MBAApplicant.com). If you want the best possible chance of getting into the school of your choice down the road while minimizing your debt, think twice about doing your MBA program right out of undergrad.
2) A part-time Masters degree can be a great compromise (and more affordable!)
Think about it. If you’re only taking one or two classes a semester, you can probably afford the classes more easily with less loan debt and even work full or part time alongside your classes. If you want some more information on full vs part-time programs, check out this blog.
3) If you’re concerned about paying back your loans, did you know that there are deferments available for being unemployed or making low income?
For more information, check out the Student Loan Network’s page on federal loan deferment.
ScholarshipPoints Code: WAITORGRAD – Expires June 21, 2010
5 Most Recent Student Loans Blog Posts:
The Student Loan Help blog is sponsored in part by:
horrible economy, it will get better
A lot of this seems to do with skill sets and available positions in your area…for instance, I do a bunch of stuff and have applied for jobs at many different places and no one has hired me – it's a crap shoot sometimes, whereas other times it's about viability – no one wants to hire someone who's underqualified, so grad school is really, really helpful.
wow..great helpful information..the economy has ups and downs sadly..
interesting
I'm new to this scholarship site and i've already learned more useful information in 10 minutes rather than writing essays about myself. I'm now enlightened that there is additional deferments for loans.
The economy is tough, but as time passes it will get easier.
i think number two is the best advice out of all
completely agree!!
completly agree
yes, you should. Thats what I am doing now
GRAD SCHOOL IS SO IMPORTANT NOWADAYS!!! IT CAN FURTHER A PERSON'S CAREER SO MUCH!!!
wow ok. i didnt know that. great to know. thanks
yes grad schoolers are having difficulty finding a job but when we are finally put back on the right track economically then because of the extra work you did for the degree.
great info
agree
I'm on my way to grad school!
I agree 100% this is good info
Very halpful information and great ideas to consider
Thank you for the information! I am a business major that was considering continuing on after graduation while I looked for a job. Now getting strait to work will be the goal.
fantastic! thank you for the information!
Thank, I definitely agree with you.
The MBA program is very expensive, but the reward is great and opportunities increase.
Very useful information!
You should! I am!
Loans or not – it's still so overpriced. Starting to see a mentality (by those doing the pricing) that resembles medical health care costs: pricing most frequently based on an assumption of some kind of insurance…