YBPs: The Advanced Degree Chasers
Kanye can joke all he wants about how our degrees will keep us warm at night, but on the serious tip, an advanced degree can increase your income by $20K. We’ve recently posted on whether having an M.B.A. makes you a better entrepreneur and the arguments were poignant on both sides of the discussion. The truth is, whether you think getting a graduate degree is the best option for you or not, you are making your own personal decision based on your own personal career goals. And for those who want to pursue graduate studies- more power to you because there is nothing wrong with being educated.
A recent article on The Hilltop discussed how studies by the U.S. Department of Education illustrate that black students are more likely than whites to enroll in graduate school. The research indicates that of the students who graduated from four-year colleges in 1993, 45.4% of black students went on to enroll in graduate programs by 2003. The number was compared to whites, who enrolled at a rate of 39.2% during the 10-year time span. To be honest, these numbers don’t impress me and to compare black students and white students just seems irrelevant. Statistics are skewed for numerous reasons and I can think of many off the top of my head to attribute why more white students are not enrolling in graduate school. But the important thing to take away from the article is the high numbers of black students pursuing graduate school.
If you are currently in grad school or plan on enrolling, check out the post I made a while back on Gradportal.org- the only graduate school directory focused on helping under-represented groups find programs and financial aid.
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Pingback by African American (Black) Opinion Blog » Young Black Professionals: The Advanced Degree Chasers on 12 April 2007:
[...] posted on YBPG and African American [...]
Comment by Fredric on 12 April 2007:
i’m still vacillating.
that debt is no joke.
Comment by Candace on 12 April 2007:
I agree many of my peers have gone on to get the advanced degree, mine arrives next month!!! However, unless you have the work experience the paperwork can mean little. If your not smart the debt will eat you alive.
Pingback by YBP Guide — bigups: jeffrey lynn hall, jr. on 12 April 2007:
[...] ← YBPs: The Advanced Degree Chasers [...]
Comment by Bigrayvin on 12 April 2007:
Yes the debt is like a leach to your wallet and its moneythirsty, but maybe blacks go back so they can feel more marketable.
Comment by Kimberly Michelle on 12 April 2007:
Isn’t that what they call good debt? I know it’s a stretch but those of us who are currently paying it back have to think positively ;).
Comment by Jason on 12 April 2007:
Hate to say it but the first reason i thought of for more blacks going into grad school was because black undergrads are not getting the jobs that many white graduates get so in order to get those offers blacks often need Masters degrees
Comment by Dame on 12 April 2007:
I plan on going back to school this fall to take either Marketing or International Marketing. The reason is, I truly feel as a black man it will greatly help me out, better than just having a BA. This is because, on some interview, it doesn’t seem like anyone respected my degree.
They would ask me questions like. Clark Atlanta University, is that a good school? where is it located? (yes, they would actually ask me where it’s located). So i believe getting MBA would greatly help my career out. More power to everyone that’s doing it and/or going to do it.
Comment by Brittania on 12 April 2007:
I admit that one of the first things I thought when I read this article was that blacks are probably enrolling in grad programs at a higher rate than whites because we have have a harder time than whites getting hired with just the bachelors. Also there are certain majors that definitely won’t leave you with the big salary that most people desire from their college degree. However, I do think that more education, for whatever reason, will benefit the black community as a whole.
Comment by suchalady vol on 13 April 2007:
It doesn’t matter how many degrees you get if you’ve got a low financial IQ.
(Rich Dad, Poor Dad- Robert Kiyosaki)
Comment by omi on 13 April 2007:
i’m with fredric. thankfully i didn’t walk away from undergrad buried in loans…and i’m not looking forward to starting now…
Pingback by African American (Black) Opinion Blog » Tony Blair joins those who have lost their mind on 15 April 2007:
[...] posted on YBPG and African American [...]
Comment by determined on 16 April 2007:
Unfortunately after completing my MBA I will have the dreaded 100K in student loan debt. Although the thought of the repayment process brings me to near anxiety attacks, I realize that I did make poor choices in accumulating debt but the actual value of my education is priceless. I will repay the entire amount and will view the payment as a necesssary expense. I plan to work with students from my school and promote financial awareness so others don’t make the same mistakes I’ve made.
Comment by ETS on 4 May 2007:
Most career and financial advisors will tell you that going into debt for a degree that does not increase the probability of you increasing your income is a poor use of finances and time. That money could be used investing in something with better returns and that time could be spent perhaps working hard enough to get you where you’re trying to go. Thankfully, we live in a world - although rare - where people who didn’t complete their undergrad degrees are now able to make decisions and more money than some of those with graduate degrees. I say go to grad school if you NEED to. If you don’t, don’t waste your time.