Are Degrees Worth It?

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Will an Additional Degree be Financially Worthwhile? Jose attends a local community college where he is set to graduate with an Associate's degree in graphic design. He is contemplating whether or not to continue his education and get another degree, with the hope that an additional degree will permit him to get a job with a firm that designs websites for small businesses. This paper will examine whether it will be profitable for him to pursue the extra degree, or whether a better financial decision for him to immediately enter the workforce. In order to answer this question, one must look at the cost of the second degree, the amount of money he will need to borrow to get the second degree, how many hours he would need to work in order to avoid taking out a loan, and whether these additional expenses will be justified in order to pursue the additional degree. First, one must consider the actual costs for Jose to obtain his degree. Jose plans to take five courses during his first two semesters in the electronic commerce program and four during the third semester. The direct costs of the education will be $3618.00 (See Appendix A). Jose would need to borrow $4,638.00 after paying living expenses and tuition (See Appendix B). He would need to work 22.18 hours per week or 1,508.22 total hours to avoid having to take out a loan (See Appendix C). These calculations make it clear that Jose is going to incur significant expenses if he pursues an additional degree and that

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