Does it make Sense Investing in Adult Degrees after 50

With the government seemingly having given up on the jobless, there's one thing people have realized today - it's completely up to them to look out for their interests. A very popular way today that older adults in their 50s or 60s choose, to look competitive in the job market once again, is to head back to college for a new degree in the area of work they are interested in. But of course, we all know that tuition costs are astronomical everywhere. People in good jobs aren't able to scrape together enough to put a son or daughter through college. Do older adult degrees really make much sense spending thousands on? Does a person at 50 getting a degree really help his career prospects any?

One reason so many people think of applying to get older adult degrees is that for hundreds of colleges across the country, the older adult market can be a pretty profitable source of students, and they advertise. People out of jobs or people scraping by in low-paying jobs seemingly with no hope of ever stepping back into the middle class again, when they look at these advertisements for programs specifically designed for them, think it could be worth a try getting new qualifications to put on their resume. Colleges are seeing a 20% rise in the number of applications they get from people over 50.

The American Association of Community Colleges has a Plus 50 initiative in place in dozens of campuses across the country to offer adult degrees specifically aimed at baby-boomers. The University of California has degree programs aimed specifically at boomers too.

But getting down to the nitty-gritty, is it worth it spending about $750 for each class you take at a public college or spending  four times that amount in private college? By the time you get a bachelor's degree one of these places, you end up spending $30,000. Even joining a continuing education program can work out to be pretty expensive - an accounting certificate for instance will set you back about $4500. A Master's degree can set you back $50,000 each year.

Experts are of the opinion that it could be a good idea spending money on getting adult degrees or other qualifications in your 50s or 60s if you have hard figures that tell you that you can expect the job you get with your new degree to pay at least as much starting out as you have to borrow to pay for the degree. You also need to consider how much longer you expect to stay on the job market. If you plan to be working for another 10 years, this could be well worth it.

If you are a senior citizen, many community colleges allow you to take classes for free. If you have a job already, you could probably ask your employer if they offer tuition assistance. Whatever you do spend out of hand, you could probably get a tax deduction for as well.