5 Important Questions to Ask Yourself Before Deciding to Go Back to School

5 Important Questions to Ask Yourself Before Deciding to Go Back to SchoolGoing back to school can give you a sense of accomplishment and open the door to new opportunities, but is going back to school for a new or advanced degree worth the investment? We all know pursuing a degree can have a strong impact on finances, career and family.

Here are our 5 questions to ask yourself before going back to school:

Why do I want to go back to school?
Exploring why you want to go back to school is an important and necessary first step. Are you interested in learning something new? Are you looking to move to a new career? Maybe you are hoping an advanced degree will give you a significant income boost. Whatever your reasons for thinking about going back to school, take some time to write them down. Discuss your list with trusted mentors and family members to get their honest input. Their advice could help you find other avenues to reach the same result without the cost and time required by pursuing a degree, or determine that a degree is your best option.

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Should I Consolidate My Student Loans?

shj100416_student_loan_consolidation_blog_imageAs we enter the back-to-school season, many college students may have applied and been approved for a student loan for the upcoming academic year. While students and parents alike welcome the additional assistance in paying for their tuition, the appeal starts to wear off upon graduation when the responsibility to pay back the loan begins. Recent reports show that “the average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year” and that the average monthly student loan payment is $351 (source). Often times loans are accumulated from various sources and consolidated down to one loan with the lowest interest rate or most favorable repayment option. However, depending on the type of loans you have outstanding, it may not be in your best interest to consolidate. Continue reading