Are Further Studies Worth the Cost?

One of my good friends is attending an Ivy League university on a scholarship this coming September. But even with her partial scholarship from her hotshot university, she still has to shell out a staggering amount and since she wasn't born rich, her friends helped out by holding a fundraiser. However, even with what we raised for her, she is still several hundreds of thousands of pesos short.

She's leaving the country in a few days without knowing where she will get the rest of her tuition money from, and after a year, when she comes back from her studies, she has debts to pay off.

Which now brings me to ask, are further studies worth the gargantuan cost?

If you ask her, she will say that it is very much worth the stress and hustling she now has to do because she always dreamed of taking up further studies in a fancy university abroad. Also, she has plans of teaching and the academe is a very snobby institution where an Ivy League education brings you top dog status.

But if you're in the legal profession, you really don't need further studies to advance your career, unless you intend to teach or specialize in a field that requires a sparkly title in order to climb up the ladder. I guess that's how it is in most fields anyway, and is not just exclusive to the legal profession.

If you are thinking of getting into serious debt to finance your further studies be sure that:

a) It will be beneficial to your career in the long run; and
b) You have a plan in place to repay your debts;

Otherwise, if you're just itching to go back to school again, better take short courses instead to sate your need to hit the books. As for me, after my RFP course, I'm thinking of taking up sewing classes and adult ballet. No way am I going back to school to study about law ever again. I've had enough of that thankyouverymuch.


janice said…
For me, further studies are worth the cost if we have enough savings to pay for the tuition and other misc fees. Not only savings but also emergency fund esp because she'l be staying abroad. It's ok to borrow or loan money but not only wil she feel pressured during her exams but also with the thought that she has debts to pay after her studies.

Hi ate jill :-)
I've been following ur blogs for almst a yr now. U wont bliv it but honestly I already read all ur posts here at fh and not all but a lot on ur other 2 sites. I was even inspired to create my own website and now i'm slowly adding contents to it. But even if I alrdy hav my own, i'm stl a loyal stalker of ur sites hehe. I mentioned ur site in some of my posts which I hope u dnt mind. Btw, u may not include ds should u approv d first part of my comment. Thanks and see u around! ;-)
Jillsabs said…
Hi Janice!

Thanks so much for reading my blog! I've already added Pinay Investor on my blog roll :)

Good luck with your stock investing, but be sure to look into other investments as well. Have a great day!
Janice said…
Thanks for adding Pinay Investor to your blog roll. I really appreciate it. It's a dream come true! hehe :) Yup, I also have other investments which I'd like to share on my blog pretty soon.

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