Hi everyone I'm Laura Adams and you're listening to the Money Girl

podcast. I received an anonymous email that asks.

I recently graduated with my bachelor's degree and started repaying my student loans,

but now I'm thinking about getting a master's so I can earn more.

Is it better to wait until I pay off my current loans to go back to school or to go now and

add more loans to my existing debt.

Whether you should go back to school is an important decision

because it affects many aspects of your life.

Today we'll cover the pros and cons of returning to the classroom.

Plus you'll get five tips to know whether getting more education will pay off,

especially if you need to borrow money to make your education dreams a reality.

Paying for education is an investment in your future that usually pays off.

Did you know that having a bachelor's degree is worth almost $1 million more in lifetime earnings

on average than having a high school diploma?

Going the extra distance for a master's degree gives you an average of 1.3 million more.

And if you really want big bucks, doctoral degrees and professional degrees can give you over $3 million more than if you don't continue your education after high school.

Not only does higher education help you earn more, but the recent recession proves

that it also makes you more employable.

As of July 2012, the unemployment rate for a high school graduate was 8.7%, compared to 4.1% for a worker

with a bachelor's degree or higher. In addition to having more money and security, it can be personally

rewarding to go back to school. Having the opportunity to broaden your interests or study

a subject that you love is incredibly exciting.

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