The Economy is Good. Why should I go Back to School?

good economy back to school

By John Gallo, MS, MBA – Dean of Graduate, Adult, and Online Education

5 Reasons to Get an Online Degree in a Good Economy

I have been in adult, non-traditional education for over 17 years, and in that time, there tends to be a correlation between the state of the economy and adult students’ interest in going back to school. When the economy is bad, adult students go back to school en masse to further their education. When the economy is better, they tend to want to “ride it out.”

With all signs currently pointing to a substantial recovery in the economy, there may be a temptation to not go back to school to either finish a bachelor’s degree or earn a master’s degree. I would like to take a moment to provide some important reasons why you should not put off your education, and why going to school in an economic recovery makes perfect sense:

1. Our economy is much more volatile than decades past.

Since we are now a global economy, our economic fate is tied to others. Many of the regions that we depend on for economic sustenance remain unstable. A war, terrorist attacks, or even natural disasters can cause repercussions back home. Things can change quickly and having your degree or getting your master’s degree will make you much more employable should the economy nosedive.

2. The idea that you will have more time to go back to school when you’re unemployed is a myth!

Many people put off going back to school while working, thinking they will wait until being unemployed to devote the time to be a student. However, being unemployed also brings with it increased stress. The loss of income, changes to family and lifestyle, looking for a new job, or working several part-time jobs adds much stress and strain to the family unit. This can ‌hinder your concentration and ability to be a successful online student. A recent survey of our own students who successfully completed our program shows that over 70% of undergraduates were working full-time and 80% of graduate students were working full-time while enrolled at Geneva College. While it might seem counterintuitive, the time to go back to school is when things are stable and busy, not unstable and uncertain.

3. Your employer may pay for part or all of it!

Waiting until you are unemployed to go back to school means you have to finance your education on your own. That could mean taking out student loans. Today, many employers offer a tuition reimbursement benefit that could help defray some costs of going to school. Each year, millions of employees leave this benefit on the table simply because they do not use it. Even if it is a small amount, any financial assistance can defray the costs. In fact, by using your employer’s tuition reimbursement benefit, you may actually make yourself an attractive candidate to the company and be eligible for promotions and pay increases while still a student.

4. Waiting until unemployed or a bad economy is a short-sighted approach.

Education is about the long term. It may not necessarily give you a new job immediately, but it changes the trajectory of your potential future jobs and opportunities. Investing in your education now is like financial investing. If you wait too long, you will never reap the dividends of investing early.

5. You’re not getting any younger!

Let’s face it. We are all growing older. So putting off something until the “time is right” is an excuse that often never gets us the benefits and accomplishments of achieving it. Technology is changing; costs are changing, and companies are changing. There will always be excuses tomorrow.

If you are ready to invest in your future, at Geneva College, we have online programs that can prepare you for your life’s work! It’s not going to be easy, but it will be worth it in the long-run! Complete the form in the footer below for a free consultation with one of our degree experts. Or visit any one of our program pages to learn more. 

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Ryan Buchar
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