Question of value of getting a degree

arj14 · July 2014

Here's the deal:

I have attended 2 universities previously (no degrees) and am currently attending a technical college in the hopes of obtaining a degree in web development. I have about $35000 in SL debt that I have yet to pay off (working on it), but am not currently receiving financial aid. Due to these money constraints and additional time constraints (holding down two part time jobs) I have only been able to take one class a semester.

I have 45 credits / 16 classes left to go, which means if I were able to take 4 classes a year I would graduate in about 4 years. [Edit to update math. good lord.]

When I math it out like this it doesn't really seem worth it to continue getting the degree. I enjoy the work, and have previously worked at a start up as a web developer but jobs aren't abounding in my area.

Basically I'm wondering if this is even worth it. The slow pace makes me feel unhappy, but I feel like doing nothing in regards to education would also make me unhappy. DH has a decent paying job, but has about $90000 in SL debt himself from his BA and MA degrees. He pays most of our expenses while I plug away at my remaining CC debt as well as my student loans, plus the tuition and books for my one class.

Has anyone been in any kind of situation like this? I just feel really conflicted.

[Update: Now that I've checked my math (thank you @vikingsfan711!) it's not quite as dire of a situation, but it's still not what I would hope. Still conflicted.]

CuriousKiddosMama · July 2014

is each class only 1 credit? I've never looked at a tech college before- so they may do it differently but I'm used to 3 or 4 credit classes- so 45 credits wouldn't take you 11 years+.

I would have a hard time keeping with a program knowing it was going to take 11 years. I would quit, and maybe re-evaluate in the future - maybe after you've paid off the current student loans so you can take more than 1 class at a time. Plus, one thing to consider. I know I had to pause my masters degree- those credits were only good for 5 years- do these credits expire? Then you would get to 'the end' and be told you have to re-take some classes.

arj14 · July 2014

vikingsfan711 said:

is each class only 1 credit? I've never looked at a tech college before- so they may do it differently but I'm used to 3 or 4 credit classes- so 45 credits wouldn't take you 11 years+.

***Stuck in the box

Ha ha ha my math is not so good. Thank you for pointing that out. Wow. Bad. Editing the first post to update my math.

...I am just going to go hide now.

MommyLiberty5013 · July 2014

What did you want to study in the first two attempts at college? Are you just getting this web development degree to have something on your wall or do you really like it? Do you feel like you ought to have a degree because that's what Americans do, or is there something you'd rather do more that doe snot require a degree?

jjbmstinco · July 2014

For me- I would think of the final result. Do you want to be in web development as a career forever? Do you have to have a degree to do it?

For my current job I had to have a M.S. no questions asked. I got that and have tons of SL. I would like a PhD, but looking at my pay scale, and job, it wouldn't make sense. I can't get a promotion really and the pay isn't worth what I would pay.

hoffse · July 2014

Here's an odd question - are you closer to finishing your bachelor's from your previous colleges than your tech degree? 45 credits is a lot, and it might take less time to get the other instead. Then at least your pay scale will reflect a college degree.

On the whole most people make way more money over their lifetime if they have a college degree than if they don't. Obviously that's not true for everybody (read: Bill Gates), but it's true for most people. You need to contemplate what you earn now without one and what your earning potential would (realistically) be with one. The problems occur when people overspend for that earning potential.

But for me, yes a college degree is worth it. The possibility of not having a college degree was never something I considered. I honestly have no idea what I would do without one, mostly because I get extremely bored very very quickly, and my degrees enabled me to get into a really interesting job that changes each day. I don't just sit around and plug away on the same kind of work day in, day out. That would drive me crazy.

Obviously at some point you're just earning paper to frame. Every career is going to have a point where adding degrees doesn't really do much other than make your resume sound impressive. In my career you need an undergraduate and a law degree to be eligible to sit for the bar exam. So that's the bare minimum if you want to practice law in the US. After that, you can get "extra" degrees - I know plenty of lawyers with MBAs, several with masters degrees in things like economics, I even know a few PhDs and MDs/JDs. For me, I've contemplated getting my LLM in tax because that would allow me to fully specialize in tax law. But the reality is that about half my practice is made up of tax already, and I don't need an LLM to practice in that area. It just makes me look more legitimate to people who don't know my work already. I've decided not to get my LLM unless my employer pays for it (which they are talking about doing), because I haven't needed one to do what I like to do for the last two years. It's not worth it to me to spend $40K on that when it won't change my income one bit.

What added benefit does a college degree give you for your field? Are there jobs you simply aren't eligible for because you don't have one?

Sisugal · July 2014

Basically you need a marketable skill. How you get that and what the job will pay play into the decision whether college is for you.
Are the 2 part time jobs you work related in any way to the field in which you want to be? If not, my suggestion is to work toward something in the desired field, or close to it.

formerlyGDaisy09 · July 2014

we've been doing the same math for my H, he's completed 3ish years towards a bachelors and has around $45K in SL debt. He does have a job that will reimburse him $2500/year towards classes, so now it's just a matter of figuring out where he can take classes and keep that job. Does your employer or your H's employer offer any tuition assistance?

For him we've decided that a BA or BS will be 100% worth it, he has struggled to get jobs that he is 100% capable of doing because he can't check the little box that says bachelors for highest level of education. We live in a highly educated area and unless you're a tradesman it's extremely difficult to make a decent living without at least a bacheor's degree.

I'd look into ways you could get someone else to pay for at least part of the degree.

arj14 · July 2014

@MommyLiberty5013 - I studied History and Humanistic studies, both with a Ancient/Medieval emphasis. I realized after a semester and a half at the second university that if DH were going to stay in this area (which DH is adamant about), neither of those would be useful. I do enjoy Web Development and had been doing it on my own since I was about 15.

I could see myself being a web developer, and could probably get by without a degree if I were more drawn to freelancing. I would rather work on some kind of team if I could, and I think it would be easier to get a job with a business if I had the degree.

@hoffse - I have about 33 credits left for a BA in Humanistic Studies, but that won't do me much good in the area I live in. Also, I would absolutely have to rack up more SL debt whereas I can get by paying cash at the tech school.

@sisugal and @gdaisy09 - my current part time jobs are not related at all to the degree and would not pay for its completion. I currently work at an entry level clerk position at a library, and in the fall will be starting an additional job as an elementary school library aide which also only requires a high school education.

I do have my resumé up on a website specifically for people who attend or have graduated from my state's technical colleges, and it does have some opportunities in my area, but most are looking for or prefer a degree.

hoffse · July 2014

OP I think that last sentence you wrote about people preferring a degree is the answer, honestly. Bachelors of Arts =/= training. I was an art history major, and now I'm a lawyer. H was a music composition major and is about to be a lawyer. The point of the Bachelors is to help you learn how to think/rationalize/make connections - not to train you in a specific field. The point of a liberal arts degree has never been to get trained in a job.

Not going to lie, if it was me I would probably finish the Bachelors because you have fewer credits to go. But I'm obviously biased because that's what I did, and I find a lot of value in it.

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