Jump to content

Is 30 years old considered too old to start your Master's?


dragonfly87

Recommended Posts

I finished college by Dec. 2015 and obtained my BA in Hotel Management and Tourism 6 months later.

 

Due to certain inconveniences, I had to take a break for a year. I'm now 30 years old and planning to enroll in a 2 years Master's program somewhere between Oct to the beginning of Jan.

 

I can't help but wonder if I'm too old to start my Master's. I was already 28 by the time I graduated from college for the first time (I finished later than usual for personal reasons).

Link to comment
Why do you want to get a Master's degree? Is it cost effective to do so? chi

 

I agree.

 

Don't get me wrong, I got my master's in my 30s and don't think age is an issue at all. But what will it do for you, career-wise? Will the pay increase cover the cost of school? Or will you be saddled with student loans for decades?

Link to comment
I agree.

 

Don't get me wrong, I got my master's in my 30s and don't think age is an issue at all. But what will it do for you, career-wise? Will the pay increase cover the cost of school? Or will you be saddled with student loans for decades?

 

It’s an interesting point made there, but I don’t believe that studying has to be solely focused on where it takes you in a career. It could just be for the challenge or the interest in a subject area.

 

During my undergrad studies there were a couple of people there who were retired but just wanted to do something that they were interested in.

 

It is a valid point with the student loans, but certainly in the UK it does not seem like a big factor. It did not influence my ability to get a mortgage and the repayments are not even noticeable. There are also other options such as ‘pay as you’ if distance learning and newly introduced post grad loans. Really this depends on where you live and where you will be studying. When I applied for my student loan I was lucky in that the fees had not gone up yet (thank you lib dems) but a lot of people now are looking at at least 40k .... outrageous

Link to comment
It’s an interesting point made there, but I don’t believe that studying has to be solely focused on where it takes you in a career. It could just be for the challenge or the interest in a subject area.

 

During my undergrad studies there were a couple of people there who were retired but just wanted to do something that they were interested in.

 

Yes, of course. Since he is 28 and a recent graduate, I assumed he would be going to graduate school to further his career. But it's possible that he has enough time and disposable income to be an educational hobbyist.

 

It is a valid point with the student loans, but certainly in the UK it does not seem like a big factor. It did not influence my ability to get a mortgage and the repayments are not even noticeable. There are also other options such as ‘pay as you’ if distance learning and newly introduced post grad loans. Really this depends on where you live and where you will be studying. When I applied for my student loan I was lucky in that the fees had not gone up yet (thank you lib dems) but a lot of people now are looking at at least 40k .... outrageous

 

Yes, it definitely varies by location, and also by time period. The financial climate in the US did a complete 180 in the course of 10 years. When I got my undergraduate degree in 2001, I paid off my student loans in 4 years. Part of the reason that was possible was that tuition was much lower. But also the interest rates for student loans were lower than 3% and they got even lower as I paid. Plus, credit cards were allowing you do 0% balance transfers from all sorts of loans without any balance transfer fee (so I did that like crazy). And to top it all off, money market savings rates were as high as 5.5% APY! So anything I didn't throw at my student loans or car loan I socked away.

 

Try to find that now! When I got my master's degree in 2010, interest rates on graduate loans had skyrocketed to 6.8%. And there was no way out of it. Credit cards got smart about their balance transfer tactics: they limited the offers to credit card loans and imposed balance transfer fees on most of them anyway. And money market savings? Good luck getting 1% now! What a joke. It's also impossible to pay off student loans using a regular loan from a bank or a loan company. They always ask what the loan is for, and if it's educational, you get the sht interest rate. Its crazy how you can pay less interest on a car in this country, than on your education. I actually heard of a guy who managed to legally use a car loan to pay his student loan.

 

Anyway, if I knew then what I did now, I may have strategized differently. I'm seven years out now, and I still have a balance. It's not half as bad as it could have been because I saved money to go back to school. But it still sucks.

Link to comment
Yes, it definitely varies by location, and also by time period.

 

Completely agree on the time period. When I did my undergrad studies the fees were capped at £3k per year, but go back to I think around 98 / 99 they were capped at a max £1k. But back then the interest rates were something like 3%, mine are at 1.5%.

 

As I mentioned above it was when the liberal democrats formed the coalition government with the conservative party the fees rose to a max £9k per year!!!! This after saying they wouldn’t increase them. …. Ridiculous!

 

Personally I think education should be free and open for everyone, but that’s a debate for another thread I think.

 

Its crazy how you can pay less interest on a car in this country, than on your education.

 

I’ll admit to not knowing much of how the US academic system works with regards to fees but that’s madness.

 

It's not half as bad as it could have been because I saved money to go back to school.

 

Likewise, when I knew I was going to drop full time employment to re-train and had a mega saving spree..... ate a lot of instant noodles during that time.... and whilst at uni to be honest ..... good times

Link to comment
  • 2 weeks later...

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...