Wednesday, March 25, 2009

How to pay for Grad School

Posted By: Asim Mohammed

During these tough economic times, one of the best things to do is to go back to school. However the costs of the grad school might deter people from enrolling. Kevin Murphy, a professor at the University of Chicago who has studied the economic benefits of higher education, says that money shouldn't deter people from higher levels of education. Educated people do a lot better in life, in various aspects while improving your life. Those who finish their grad degrees also tend to earn bigger paychecks. For example, the average worker with a college degree earns about $42,000 a year, with a master’s degree; recipients earn an average of $52,000, while Ph.D.’s earn an average of about $71,000 a year. There are numerous programs to getting aid and in some cases free money to pay for grad school. Some ways are, tracking down and applying to charities and government agencies that fund graduate study in their fields. This is a great option for those in the sciences, education, and languages, getting their employers to contribute to their education. This is a great option: At least half of all workers receive education benefits from their employers. Another way is to deduct your tuition expenses from your taxes.

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