College Degree After 50
Is attaining a college degree after 50 years of age worth the effort and expense?
There is a lot of conversation about whether higher education is worth the money.
Make sure and read the many comments on this post below. The comment portion of this post is longer than the original post.
This post was originally published in March of 2015 and was updated in February of 2020.
Robert Reich wrote a piece for Salon.com titled:
Robert Reich: College gets you nowhere
The Author writes:
This is the time of year when high school seniors apply to college, and when I get lots of mail about whether college is worth the cost.
The answer is unequivocal yes, but with one big qualification.
A college degree no longer guarantees a good job. The main reason it pays better than the job of someone without a degree is the latter’s wages are dropping.
If this applies to a high school senior, what about a 50+-year-old who has seen their industry or profession disappear? We have seen in study after study that staying employed after the age of 50 can be quite difficult. The Urban Institute study stated:
We find that about one-half of full-time, full-year workers ages 51 to 54 experience an employer-related involuntary job separation after age 50 that substantially reduces earnings for years or leads to long-term unemployment.
Should you go back to college to have a better shot at staying employed? The answer is maybe as it all comes down to what you expect to gain from attaining the degree.
For More: 5 Things to Consider Before a Midlife Career Change
Preservation or Reinvention?
Are you trying to preserve or re-invent your career? These are very different targets for going back to school.
Preservation of Your Current Career
I have heard of many going back to school and getting a master’s degree in their chosen profession. As long as their current employer supports and/or funds the degree program, it usually proves to be successful. A good example is getting a Masters in Education, for those in the K-12 education field.
It is used to be that attaining an MBA was a sure-fire way to spark and hopefully preserve your career. I am not sure that is true anymore. Especially, if you are going to invest $100K of your own money. I have one client who received her MBA from a prestigious executive MBA program, and it has done nothing for her. Of course, she received it during the great recession.
In updating this post, that same former client has found that getting the MBA was professionally beneficial in that it made her more competitive. On the other hand, she has seen no financial benefit other than helping her stay employed. Her former employer paid the bulk of the $100K of tuition and she has no student loan debt from getting the degree. If she had paid the tuition she would be part of the group age 60 to 69 who owe $85.4 billion in student debt altogether.
In my research for writing this post, I have found nothing that says getting an MBA after 50 makes sense financially.
If you think differently, please comment below.
Reinvention
Reinvention is most commonly done in incremental steps or pivots. For most of us in the 2nd half of life, we have these things called obligations like mortgages, funding our children’s education and growing our retirement nest eggs.
I spent 30 plus years as a computer engineer and if I decided to become a pastry chef, I am certainly not going to be able that transition in a single step.
I might be able to get hired as an engineer for a food product company. Maybe I could then shift to working directly in food production. At the same time, I could be acquiring training and possibly certifications that get me closer to my goal.
If you are reinventing your career, my experience is that getting a bachelor’s or master’s degree after 50 is not a good investment, especially, if you are taking out student loans!
I have talked to dozens of individuals over the last couple of years who obtained their college degree after 50. Almost all of them told me it did not give them the competitive edge they needed.
If you are entering a new field after 50 years of age, you will be competing with others much younger than you. The same issues of age discrimination that you found in your old field will likely apply in the new one.
It does not make sense (most of the time) to get a college degree after 50 in order to reinvent your career.
However, getting a college degree after 50 can work for preserving your career, if – and it is a big if – you plan carefully.
You must do your research. Find others who have successfully forged the trail before you embark on getting your college degree after 50.
For More: Career Reinvention – A Model for Change
Free Tuition After 65 and Possibly Younger
In the last few years, every state in the U.S. has started to offer either free or reduced-cost higher education to seniors. The definition of “senior” varies from state to state. Some start as early as age 60.
These courses are offered at state universities and community colleges.
Take a moment to check out these resources:
- Senior Citizens Can Go to College for Free or Cheap in All 50 States – The Penny Hoarder
- Free & Cheap College Classes for Senior Citizens (By State & University) – MoneyCrashers
For more just search google or your favorite search engine with “free tuition for seniors.
Certificate Programs
Certificate programs offered at many community colleges are much less expensive and time-consuming. For example, Austin Community College offers certificate programs in non-profit management. If you want to make the leap from for-profit to non-profit, this a cost-effective means of gaining skills and will give you some street cred in your new field.
If you are interested in learning more about whether getting a certificate makes sense check out my post Certification – Is It Worth It? It Depends! [Updated]
Online Courses
There are now many online educational resources that are low cost or free.
Online training resources include:
- MOOC.org
- edX.org
- Udacity
- General Assembly
- SkillCrush
- Lynda.com now LinkedIn Learning
- Coursera
- SkillShare
- Udemy
These online courses are a very good value, take far less time than a college degree and extremely relevant to the job market today.
Example
Back in 2015 I talked with Christine Jensen, whom I discovered through her article on PBS NextAvenue website called RIF’d at 59: The Lessons She Learned.
Christine is now a freelance writer. She is considering going to her local community college for a photography certificate. It is affordable and she can pick and choose what to take. She may not even pursue a certificate if she obtains the skills she needs without completing the program.
I just reached back out to Christine to see what she ended up doing. She wrote me back saying:
Five years ago, I was at the start of a major transition period. I did take a photography class at the local community college and enjoyed it very much. I also worked a series of short-term contract jobs for companies such as The Grossman Group and Wells Fargo.
One of those short-term gigs—teaching at Iowa State University—turned into a longer-term position. Today I am an assistant teaching professor at ISU in the Greenlee School of Journalism and Communication. My teaching assignments for the past four years have focused on public relations, which allow me to share my 30 years of experience with aspiring professionals. I have thoroughly enjoyed the camaraderie of the ISU faculty and the opportunity to interact regularly with young adults.
Now I find myself entering a new transition period. At my request, my teaching load this year was reduced to just one class each semester. This change allows me to spend more time on creative pursuits, volunteer work, and my grandchildren.
For the foreseeable future, I hope to continue teaching and to do more freelance writing.
She made the transition without getting an advanced degree.
It all comes down to – doing your research!
Have you pursued your college degree after 50? Was it worth it?
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lynette says
I am 53 and I have been a long yet substitute teacher since college. I currently teach at a government agency and I’ve decided to attain a Masters degree I Organizational Management. My gut tells me to walk away, it’s a dream and a trap. I believe student loans are going to consume me in my senior years. I am not comfortable taking this path.
Marc Miller says
Lynette,
The key is the cost. It probably makes no sense from a professional perspective but from a personal perspective it may make sense if you can keep the cost down.
Hi Marc,
I want to study 3D art and Illustration, I am 49 and I had been working in laboratories as a quality control inspector for the last 10 years but I don’t like my job, I never like the biotech field and I want to do something that I like and I know that I have talent for 3D art and Illustration -modesty aside-.
Something that is killing me is the short time that I have, my age, how will be outside? Do I have to take the risk? 2 years or 4 years of classes? It is a good idea considering that loans are high? In the future I will have the chance to find a descent job ?How safe can be or should I die in my job in which I am not making too much? I need advice pls. Thank you.
Carlo,
You will live until you are 100. You have plenty of time. 8^))
Can you study part-time and see if it really what you want to do? Where will you go to school? Please do not tell me it is one of the Art Institutes which are for-profit schools. I saw the Art Institute name pop up all of the time and the very high cost.
Marc
Hi Carlo, I’ve been in advertising for 25 years and worked with 3D studios, illustrators and designers. It’s great fun but have in mind that it’s a young industry and ageism exists. Try to talk to freelancers over 50’s in the industry and see what the say. I’m sure you can be a great 3D artist and there’s nothing better than doing what you’re good at, but try to plan your next 25 years of professional income.
I have been working in this 3rd major job of my career for 14 1/2 years as an analyst. I have a Master’s in Education that is really not in this field of work that I am in. I am constantly passed over for leadership, higher raises beyond the normal 2 and 3% as well as manager positions. Recently, my coworker who has no master’s degree was promoted over me and she’s worked here for 5 years. She had a supervisorship in her prior position. Now I’m thinking, maybe going to school and getting a Master’s in Business Analytics would be a good idea. It’s the $28k price tag that’s really giving my second thoughts.
Van,
You really have to understand why you are being passed over. Most of the time what degree you have becomes a non-factor just a few years into your career. I believe that most masters degrees are worthless today as things move so fast. If you consider getting a certification that YOU KNOW will get you ahead then that is different.
Hi thanks for this article. Iam at age 51. I studied part 1 of ACCA and fortunately I have wide experience but i can be called a certified accountant because I didn’t finish the last 2 parts. The reason iam contemplating to do the last 2 parts is for recognition and not for employment or better peaks. Kindly advise. Evans Maunda, Lusaka Zambia
Hi Van,
If they wanted to advance you they would had regardless of your degree just as they did with your coworker. The problem is more likely office politics and not lack of education. Find another job in the position that you are trying to obtain at your present job. Often times you have to move on to move up. Don’t waste time and money on another degree. Find another employer who appreciates you.
Hi Marc my English & Literature BA (Hons) degree I am told is a decade too old. I thought of doing my MAs in Business Management soon after, but couldn’t afford it. Why Business? A polar opposite to literature, I hear you ask. Everyone else was getting a promotion and a managerial position, whilst I was stuck in an administration & customer service role being paid peanuts. I’ve recent turned 50 and the thought of finally going for that elusive MAs is tempting, but it is the massive tuition fees repayment -that’s what’s worrying. If only there were guarantees of landing that dream managerial position without the experience! As you’ve said, there is the problem of age discrimination to think about as well. What say you? Thanks Marc.
Maria,
Getting a degree after 50 will not guarantee anything.
Who do you want to manage?
Marc
I want to manage a happy team. Be the boss for a change — a boss that makes a difference; enhance the staff duties, roles and responsibilities; make the office environment more conducive to work whilst achieving company goals objectives. I want to manage people who are hardworking, dedicated and committed and have the drive, motivation and zeal to succeed. I want my staff to be happy to have me as their team leader, because happy staff = objectives met; goals achieved. Happy staff keep the wheels of industry turning. Happy staff are excited to get up in the morning to get to work. Happy staff are proud to work for a great company whose managers recognise their strengths and reassure them by sweeteners and promotions -and higher pay package. I want to manage a strong, conscientious, zealous team who find me approachable, helpful, supportive, sympathetic and kind; not intimidating, fierce and harsh. I want to work alongside these happy members of staff as part of a great team, not Lording it over them from a distance – and if that means I have to get my hands dirty, then so be it. I want to be the manager who stands united with her team through every challenge that comes our way. I want to make a difference.
What industry and skill level?
Maria,
I hope you are speaking in company platitudes and that you don’t really expect any of what you said. If the world was filled with ideal situations, there would be no shortage of qualified people to serve in management.
Your rose colored glasses have not gone unnoticed in your workplace. They are part of what blocks your path to success. Take them off. Go after a management job no one really wants with less than perfect staff and fewer resources than ideal . Those positions are much easier to get, and performing well at them impresses those above you more.
Hi , Mr. Marc Miller
I am a lawyer , 53 year old , with 20 years of experience . I am planning to do a Master course in International Arbitration and Business , I want to know , if it is worth to apply for . As you know , in law firms age limitation is not a problem , but I don’t know I can get a job in European low firms after getting a master degree. With regarding this point that without a master degree I can not develop my career prospects , however I have to compete with young lawyers .
Could you please send me your kind answer and comment
Thank you
Behnaz,
The only way to know to go ask someone who has already done this. Either ask the university that you want to apply to for someone who has walked this path before you or search LinkedIn for someone.
I will tell you in the US I have known a number of lawyers and judges who have tried to break into arbitration unsuccessfully.
Marc
I got my RN/BSN at the age of 55…I am now 69 and I have been working in health care since I graduated! Going back to college for me was a win/win!
Dee,
One of things that has happened in the last 15 years is college costs have escalated sharply. It costs a lot more to get that RN/BSN now than in the late 90s.
Another issue that all these programs are very competitive and hard to get into especially after 50.
Kevin,
If you are referring to nursing programs, you are correct.
Marc
Good for you… this brings you joy, to help others and you proved that people over age 50 can do what they set out to do !
I know that you made the right choice for you.
My late Mom got her nurses degree after turning 50. She had years of experience as a phlebotomist and a blood bank tech in a large hospital.
Not everyone can be a nurse… kudos to you.
Hi Marc. I just turned 45, and do not have a degree at all — but I have had huge success in the IT field my entire adult life. I count myself lucky, but I work incessantly to stay ahead of the curve.
Now I am looking at college to add the missing pieces to my education. I don’t particularly care about the degree, but over the years, I’ve observed that there is a huge knowledge gap between a “programmer” and a “computer scientist” and I find myself very much wanting to become one of the latter.
I think about it every day, and despite every signal that it’s impractical, I still want to get that education. Am I just nuts?
Drew,
You are not nuts. It all depends on why you want it and what it will cost. If you want it because it is exciting, professionally motivating or a personal goal then go for it AS LONG as you can afford it.
It probably does not make sense financially at this time in your career but if you have the money go for it.
Marc Miller
I studied Computer Science and obtained a degree with honors and had a lot of success obtaining coveted positions. In my experience the degree is a good sign you are dedicated and gives a broad range of basic knowledge. However if you are very dedicated such as yourself and continue to educate yourself and obtain up to date certifications it can be just as, if not more valuable than a degree combined with on the job knowledge plus wisdom.
Hey Marc,
I work in the Entertinment Industry doing royalty accounting. I have long needed a change. I have been contemplating going back to school for either a certificate in accounting or IT audit. I have also considered pursuing something in the healthcare field. Any suggestions?
John,
The key is to get the organization that is providing the training to show you someone who “looks, smells and tastes like you” who has completed the program and is employed.
You want examples of their graduates success but those graduates should be like you.
Make sense?
I just completed my bachelor’s degree at age 54. Was it worth it? Well as you pointed out, it depends on what you are looking to get out of it. And what I was looking to get out of it was 1. an educational experience, which I missed in my 20s, and 2. a degree, which I always wished I had. I got both of those things, so yes it was worth it. Has it enhanced my career? Well I don’t expect to make more money than I did in my former career. I decided to pursue an area of interest (public history) to fulfill a passion rather than to increase my earning potential. Call it a midlife reinvention, or whatever, but I am at a time in my life where personal fulfillment is more important to me than climbing the corporate ladder. I now have credentials in an academic oriented field that I love and in which I can work for at least the next 20 years.
Lisa,
Congratulations. It sounds like you made a good choice.
Marc
WOW, why couldn’t you say “Congratulations” to Dee rather than “………..in the last 15 years is college costs have escalated sharply.”
This post is about getting a degree today later in life. Comparing to getting a degree 15 years ago to today is comparing apples with oranges.
I agree with you.
I agree with you, Bonnie
Hey Marc, I’m a 46 year old with no college education who successfully changed careeers from a sales position to digital marketer about 8 years ago. Now I’m the director of marketing for a very large global corporation, making a pretty good salary.
I’m considering moving though and see that this job position in other companies seeks someone with a college degree or masters. I wonder how much experience can make up for lack of a formal degree in the eyes of the hiring personnel…guess I’ll find out soon!!
Johnathon,
Having a formal degree is becoming less important but your network is becoming more and more important. Having a proven track record with demonstrated successes is far more important.
Marc
Having a formal degree is very important at least in Europe – I’m 50 now and lost my job because I didn’t finish a college education – my salary was always smaller, I couldn’t make any progress on my carrier and now I decide to earn my degree -at least I’m going to try. There are several top Universities out there who are offering programs for the nontraditional mature students – Harvard, Columbia, Yale, Brown, etc – and they are offering a huge financial aid as well. My opinion is – Yes, it’s worth it!
Gala,
If you can get someone else to pay for it then go for it.
Would you be willing to share links to the programs you found?
Marc
I would be interested in those links as well as I am considering adding a degree to at nearly 50.
I had a major life crisis at 45. I thought I was set for retirement. I left NYC, sold my apt and quit a fantastic job to move to Spain because of marriage. Well that lasted all of a few months and it was January 2010. So what to do? My Spanish wasn’t good enough, I was old and unemployment was 25%. I went to France and studied French at a university hoping to land a job in my old field in France. Nope. My immigration status for work only applied to Spain. I faced the same dilemma in the UK. I tried to get a job in the USA but I had to be “local.”
I thought, ” I know 6 languages and have lived in 7 countries, so why not get into something along intercultural consulting !?” I took certification classes in teaching English , in obtaining certification in German as well as to prepare for a go at a masters. It seemed many jobs required it or the people in the field had one.
Studying in many European universities is free or minimal. I didn’t want to rack up student loans. Now after 3.5 years of study and the need to find an internship it is dawning on me what a mistake it was. I should have bit the bullet and moved back to the US and to an area where I could find work in my field. NYC was out due to costs.
My field is very narrow and there isn’t much choice. I should have invested the time and money into upgrading my tech/digital skills.
The big worry I have, which is hard for my acquaintances here in Europe to grasp, is retirement issues — especially medical. That’s one reason I stayed here under the false hope of using a very good and efficient universal health care system. I tremble at the thought of returning to the US and dealing with the horrors of the system..huge bills.
So yes I regret going for my masters which I may not even complete since who hires a 52 yr old intern…unless you are Robert de Niro in a movie?
Ron,
I understand your issues. I am very worried about what the US will do to medical care, especially for those over 50. I now have a crappy high deductible ($13K) policy for well over $1K per month.
What field did you pursue your masters?
Marc
Hi Marc. I am looking to jumpstart career at age 48. I earned a BA in communications in ’94 at 24, a MPA in ’98 at 28 and a law degree in 2002 at 32. I then failed the bar three times and moved on to work in an analyst capacity or as a law clerk for a large portion of my career. I have also been plagued by chronic unemployment from 2003 to date. I have a generalist background with strong skills in writing, research and analysis. I want to beef up my skill set for today’s workforce, particularly given I live in Silicon Valley. With three kids, two of whom will soon be college bound, an advanced degree is out of the question. I have considered certifications. For example I would like information on an affordable certifications program in EEO. It could expose me to performing the completion of EEO reports, performing adverse impact studies and providing recommendatjons using EEO data. What are your thoughts?
Anthony,
There are lots of options with online classes. I will drop you an e-mail to setup a time to chat. I bet we can brainstorm an idea or two fairly quickly.
Hi Marc,
I will be turning 50 this summer and have applied to go back and get my Masters in nursing, which will lead to Nurse Ptactioner. It will cost me about 37k and take 2 years part-time. I am waiting to hear if accepted. Part of me will be relived if not, but the other part of me is excited. A friend of my who owns a medical practice said I had a job when I get out and they pay well. I will have to get a loan. I’m worried. Is it worth it? Can I get a loan or even grants if I make around 63k a year? My husband is very supportive, my brother worries because of the financial burden.
Some insight would be great.
Anna
Anna,
Here is my concern.
Yes, you will probably be able to get a decent paying job. The challenge is can you physically do the job? My wife is a former nurse and worked in both the hospital and home care units. You will be on your feet a lot and a lot of nursing can be physically challenging (moving patients…)
Are you prepared physically? By the way, when I went to teach high school math, a lot of the men and women who were my age in my certification cohort did not make it because of being on concrete floors all day standing.
Marc Miller
Hi Marc,
I’ve been working as a nurse since 1994 and physically fit. Let’s just say I’m a young 49 and do 12 hr shifts in a hospice home. I’m not worried about that. Is it worth the financial burden? When I get out the pay starts in the 90s, compared to low 60s, which is my income now.
Thanks
Anna
PS sorry about typing errors. I’m sending from my phone
Anna,
After I left the comment I went to your LinkedIn profile and saw you were already a nurse. so duh…
It all comes down to running the numbers. How long will it take to pay off the debt? How long do you intend to work before retiring? Lastly, how will your job change? Will it be more enjoyable or rewarding?
I hope that helps.
Marc
Hello
I appreciate the article. I am 51 and am currently considering enrolling in a three year concurrent MPP/MSW program at Berkley. If I do enroll, I will not actually start it until I am 53 since I missed the deadlines for the current cohort. I chose the program because my entire professional career has been in social work at the non-profit and county level, and I have seen myself growing increasingly active in engagement around policy issues at the community level, including joining several Board of Directors in my area – but I have been consistently passed over professionally as well as underpaid due to lack of advanced degrees. My current employer is a national non-profit agency that does offer tuition reimbursement, so I am considering approaching my boss with a proposal of my plans to see how much support I can expect around the pursuit of this degree.
My concern is how to realistically juggle full time employment with completing this program. Are there examples of cases where this has worked?
I have a fairly flexible work schedule at the moment but, having worked full time while I got my bachelor’s years ago, I am well aware that my current age and energy levels are not the same as in my youth though I daresay my passion and commitment now are higher. Should I negotiate down to part-time work?
Michele,
My 1st question for you is what will it take to be a student again? Being a student today is different than when I went to college. I would find someone who is your age who went through the program and get their opinion.
Marc
Hello – thanks for the reply.
I don’t know any people my age who went through the program, hehe.
I do know a few in their 40s and one young man who is about to turn 30, who all graduated recently so I have a fair idea about the required investment on the student side, if that is what you mean. They gave me great feedback and what I learned from it is a large reason why I chose this concurrent degree vs a different type. I am comfortable with what will be required of me as a student.
As I indicated, what I am not so clear about is the practicality or even feasibility of dialing back on work to accomplish this, so I am trying to connect with information about others doing both, as I did during undergraduate work. Not sure if there are people out there who attempt doing this at any age, let alone post 50. If there are, I would love to hear how they did it.
Hi there, this is a what I have been asking on myself. I am a 55 yrs old now is currently enrolled in a counseling program (MFT)as my passion is to help people on their marriage issue. As I am aware of my age but I don’t really care about my age I still want to become a licensed marriage and family therapist. So, go ahead and achieve your goal whatever it takes because in the long run youll be happy that you did it for yourself. Good Luck!
If this is for personal fulfillment and you have the money to pay for it, go for it.
Marc
I am 54 and just started my Masters in Clinical Counseling. I work full-time in the mental health field now because it is my passion. I have no financial responsibilities because my partner pays the few bills we have in life at this point and we have a good retirement put away and he still works and also gets a nice pension. Half of my monthly earnings go to tuition and fees and I am saving most of the other half for when I do my internship. I love the idea of working my way through school at this age. It is tough because I don’t have the energy I used to have but I guess I just feel like what else am I going to do if I am not reaching for new goals? For me, it’s a way of staying vital and engaged and learning new things. I plan to work well into my sixties and seventies if health permits. I would not do it though, if I had to take out student loans at this age. It is quite expensive.
Thank you Marc for another outstanding piece on the declining value of a college degree. Fortunately I completed my two MAs back in 1995 and 2004 respectively with minimal student loan debt. I think the bootcamps are the way to go no certificates but you are trained in high demand digital skills that will immediately land you a job with great pay and benefits. Bootcamps cost less than a MA, JD/MBA or PhD yet based on the research will land you a job that pays taught by people who have a BA degree or less!
I am currently working on my Masters in Education and I am in my early 50’s. It will cost about $ 11,000 to $12,000 to complete. It is exhausting, but worth it because I am doing it for me. You can’t take money with you when you die. I am sick of people saying “older folks” shouldn’t go back to school. . .
Trina,
If you can do it for a reasonable amount of money and do not go into debt, then go for the Masters Degree. A Masters in Education degree does carry weight in the world of education which has a very credential orientation.
Marc
I am a RN/BSN with a leadership position within my company. I earn a very competitive salary. Many of my direct reports have Masters degrees while I do not. I know several of my peers are now looking to getting theirs as well. My fear is if I don’t keep up, or if my company were to ever downsize or worse, would I be competitive in the marketplace without my Masters? My employer offers pretty minimal tuition assistance. I am 55 and unsure whether it is worth the expense (though I have found a few pretty affordable online programs) but have another 12 years that I need to work being a single mom. (1 in college and another a year away from college). Thoughts?