Monday, February 16, 2009

The Grad School Payoff

By Kim Clark

Posted by Jenny Sutton

Kevin Murphy, an economics professor at the University of Chicago who has studied the economic benefits of higher education, warns that money shouldn't deter anyone from any level of education—including graduate school. "I hate to see people get discouraged" by high tuition costs, says Murphy, who won a MacArthur "genius" prize in 2005. Educated people do so much better "in so many aspects of life by deepening your mind, and improving your appreciation of life. You should go for a master's in poetry if you enjoy it," he says.

Before you commit to a program, or an education loan, check out:
- What salaries people in your intended field are earning.
- What your monthly payments will be on your student loans.
- How quickly graduates from your school got jobs.
- What salaries graduates from your program are earning.

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