Help a Reader: Going Back to School

Here's an email I recently received from a reader:

Yesterday, I got an obnoxious raise: over 15%. I don't make much, but for the company I work at, this is a tremendous jump. I have an awesome set-up here. My company pays for my housing and utilities. I work for great people. There is nowhere for me to progress to as far as this position is concerned, but for a fresh-out-of-college job, after over two years here, I have it made.

About a month ago, I submitted my materials for a teaching or research assistantship and a master's degree. The degree would be in Northern Studies (I have an undergraduate degree in an unrelated field). I have no qualms with leaving my current job, especially if I receive the assistantship (which is free tuition, plus $300/week stipend for the duration).

My question is, is this a good return on my investment? It is not really like I am driving a half hour to the local SUNY school: I'd be trucking it 4,000+ miles from New York to Fairbanks, AK. That kind of lifestyle change is something I am 100% okay with, but is this a good time to be doing this? To be taking such a plunge?

My feeling is, because of global warming, other assorted world events (Arctic sovereignty, natural resources, conservation and globalization), this is a field where the population of experts will not be able to keep up with interest. I mean, I am not looking into any crazy career fields: research, professorships, University work, consulting, whatever -- and I know those salaries are low -- but some people pursue stupid degrees in college that don't pay off, and I want a job that I love, in a place I love, and I love the north.

It's been a dream of mine forever to live up there -- but while I'd love to wax poetic about it, life is hard right now, in this economy, and I was wondering whether you thought it is a good investment to pursue a graduate degree (with the only cost associated being living expenses). I have a nice set-up, but I've been waiting for this opportunity for years, and now the economy is tanking. What's your take on it?

I hardly ever respond directly back to readers because I don't have enough facts, aren't qualified to give advice on the subject, don't have time to give the type of advice they need, etc., but there was something about this one that made me want to respond. Here's what I told her:

• From an economic standpoint, it's probably a bad move. It sounds like you'll earn less in the new field than you could earn in your current one, plus you'll forego a few years of salary to get your degree. Plus, you may have some more debt before your schooling is done. Now if you could make more in the new career than you do now, it might be an ok (or even good) financial move, but it doesn't really sound that way from what you've said.

• From a "what you want in life" standpoint, it may be a good move. It seems like this is something you'd enjoy (though you never really know until you've been there). I'd suggest you think about it and decide if this is REALLY what you want to do with your life. If it is and you can leave school with little debt, then it's probably a fine move. You'll end up making less money, but you'll be doing something you love. And, after all, there's more to life than making more money (don't tell anyone I said that!) ;-)

Now, having read about the situation as well as my response, what advice would you give her?

Comments

[Rod Ferguson]

I made a similar decision early in life. I can't say what's best for her, but I can say that I decided to continue as I am and work hard towards retiring early so I could pursue the other interest. Even if I fail at the other, I should be positioned financially to weather such a failure that I wouldn't be able to now.

[Greg]

What is his current debt load?

What will his debt load be upon graduation?

Is quitting his job and relocating to Alaska necessary to earn the Master's Degree?

I he will be debt free the day he graduates, go for it!

[Dave]

What is "Northern Studies" ?

[Foobarista]

"Studies" majors rarely study much of anything and are for activists-in-training.

My guess is the person should research what people with this degree actually do upon graduation, versus more focused majors that may be have a strong "northern" element, which would allow the person to work in activism as well as be a resident domain expert in their field in an NGO, government office, etc.

An aside: my guess is that education will be the last bubble to pop. College tuition and such raced skyward for much of the same reasons the housing bubble inflated: well-intended politicians, a "mom and apple pie" attitude that higher education is sacrosanct and can't be questioned, and way, way too much government-backed loans with overly easy terms. A good, solid major is still worth the money, but too many colleges have engaged in what amounts to criminal malpractice by letting students run up vast debt getting majors with little prospect of decent work after graduation.

[Tracee F.]

I have to admit to agreeing with foobarista about the eventual course of this particular educational plan.

I'm facing a career change, along with going back to school. Virtually everyone in my close circle who knows me well - church and close friends - think it's a fabulous idea. My family's reaction ranges from 'eh' to 'ohmygodyou'reinsane'.

In short, I'm pursuing the career I should have gone into in the first place (medicine) though a bit differently than I would if I were 20 (I'm 39). I'm going to get my RN, and eventually pursue my nurse practitioner training & certification. (If I had it to do all over, I'd be a doctor.)

Part of my family (one in particular) thinks I'm certifiable not because nursing is a bad profession, but because I can count on about a 30k a year drop in salary. I'm currently a well paid I.T. professional. While I just don't like what I do anymore -- never LOVED it, but used to at least enjoy it -- she cannot understand why at my age I'd throw away my good salary for basically a "restart".

So my advice is similar to foobarista's... make absolutely, 100%, without-a-doubt CERTAIN you know what you're getting into... financially, career-wise, etc. and be just as CERTAIN you can deal with all of the consequences. If your career will be on a non-profit org path, figure out how to go to school without incurring any debt (always a good idea anyway). Bottom line, if this is where your heart is leading you, and you can support yourself doing it, go for it. Just don't fall into the trap of "do what you love and the money will follow". I have never believed that, and everyone I've seen who did ended up finding other work or living off the kindness of others.

[Mr. ToughMoneyLove]

Northern studies sounds like another one of those joke programs contrived to keep the professors happy and students confused about what the heck it is. The fact that you can get a "masters" in northern studies after having majored in some unrelated field speaks volumes about the worthlessness of such a program. It's a lousy investment, just in opportunity cost.

[Lauren]

Taking the other side, if your tuition is paid and you're receiving a stipend, AND since it's possible to work while getting a Master's degree, I'd say go for it. I don't know what Northern Studies is, nor do I care, but it sounds like something you're enthusiastic about and you mentioned you've been waiting for this opportunity for a long time. Go for it, best of luck, and if it tanks then at least you have the IT background to fall back on.

[Apex]

I reviewed the course work at the University of Alaska Fairbanks for "Northern Studies". There are three tracks that can be taken ... Northern History, Environmental Policy, and Individualized.

The Northern History track covers such topics as History of Alaska, Russian History, polar history, and poloar and northern literature.

The environmental policy track has 1 class on the env policy of the circumpolar north and the rest seem to be generic, US, global and technology env policies so I am not sure if that discuss those in the context of the north or what but it doesn't appear on the surface to be very "north"

The individual track seems to be a combo of the above two with some government classes thrown in.

One thing that pops out at me is that these classes seem to be a bit disjointed and not necessarily well tied together but the course work may do a better job of that than is evident from the list of classes.

To be honest I am not familiar enough with how these would lead to jobs to give astute commentary on the wisdom of pursuing a degree, but on the surface it does not look promising to me that the coursework would lead readily to employment. I would recommend you attempt to find jobs that you think you might be interested in getting and then try to contact someone in those fields who is responsible for making hiring decisions and point them at the AK Fairbanks program and ask them if this type of education would benefit you in a field you desire to pursue.

Unlike fields like Computers, or Medicine, or Law, where the potential benefits are clear, this seems far less clear and I believe requires much more due diligence on your part. The good thing is you have had the wisdom to ask for advice in advance so at least you are thinking about those things. My advice to you is to follow through with that and try to see where this path might be capable of taking you before you commit to walking it.

[nooney]

The reader didn't really give enough information about their current finances, in my opinion. We don't know if they have any debt of any kind, car payments, 6 months wages in an emergency fund, etc. A little financial planning, and possibly delaying the opportunity by 12 months, could make an enormous difference in their future.

[gophers]

"My feeling is, because of global warming, other assorted world events (Arctic sovereignty, natural resources, conservation and globalization), this is a field where the population of experts will not be able to keep up with interest"

Your first problem is that you believe in global warming.

[Margo]

All good points...I'd encourage the OP to consider deferring for a year, banking as much of his sweet raise as possible, and then enrolling a year later, after he's confirmed the job prospects coming out of the AK program.

[bp]

If the OP really wants advice, it would be nice to know how much they make now and what their undergrad degree was in. Also why have they been "waiting for this opportunity for years".

I'm not a big fan of "do what you love" advice. If you really want to do it, you don't need someone to talk you into it and pros/cons don't really matter.

[plonkee]

If you really want to study about the North and you can think of a career doing so then by all means give it a go (the education and stipend sound good).

If you really want to study about the North and you think that moving to Alaska will enable you to stay there, and that will make you happy even if your job isn't your dream job then give it a go.

If you just really want to live in Alaska / the North, there are probably cheaper ways of looking for a job there. Fairbanks is quite a reasonably sized city, they probably have all sorts of opportunities there. Alternatively, I bet it's a great place if you want to work in environmental law, oil exploration (probably not your cup of tea), social work, or any other number of Northern related vocations.

Living there and studying the locale are not one and the same thing. This is a great study opportunity, so make sure that's what you are primarily moving for.

[Greg]

@Tracee: I would encourage you, if at all possible, to attend medical school and become a doctor. Look into programs where, in exchange for several years of service in a location where doctor services are needed, any loans will be paid for you.

I would be a shame to become a practitioner and spend the rest of your life thinking that is you just spent a little more time you could have become a physician.

[JimL]

It is good to think very carefully about the impact of this economic climate. Having a degree that provides much more career flexibility will be important. Unfortunately, I do not see this to be the case with a degree in Northern Studies.

It would be much less of a problem if this person was able to work on a degree while still working, but this is not the case here. I am thinking that perhaps waiting for a couple years to see how things turn out may be a better alternative.

It sounds like what this person wants most is the opportunity to spend some time in Alaska, which I hear is beautiful and I would love to go myself. The "Northern Studies" degree is sort of bogus and won't mean much career-wise, even if you do switch fields. What I would do is stay at your current job and do the following: Save up as much money as you can for about 6 months or so, then approach your supervisor about taking an unpaid leave for 6-12 months. Since you seem to be a valuable employee they may consider it. During your leave you can work as a park ranger or work at a camp or whatever you want to do in Alaska (or wherever) and get a taste for whether this is a lifestyle that you really enjoy. While you are there you can look for job opportunities (in a new field or even in your current field) and then decide from there what you want to do. It may be possible that getting a job in your current field in a new location is the right combination. You won't have to get another degree, but you will still be in an area where you can enjoy the northern climate.

[Tracee F.]

@Greg: Thanks, I get that response a lot, but there's a bunch of logistics that make that highly improbable. 1st, I don't have an undergraduate degree of any sort, meaning I will have to do school full time for 10 years or so to become a doctor. 2nd, I'm no spring chicken, and residency with the insane hours (which I believe should be illegal in the first place), would be seven kinds of hell for me for several reasons. 3rd, the "full time school" is an issue since I support my family 100% financially, even when my husband finishes school he will be teaching which won't support us and he will have loans to pay off and we are still in debt right now and working to pay that off.

All told, I'd be in my mid-to-late 50's before there's even a CHANCE I could start practicing medicine, and the intervening 10-15 years would be sheer hell. Some people do it, and I applaud them. I'm willing to face that this train has long since left the station and chart another course. :-)

[Jim]

When you have a company that treats you that well and you have great people to work with, that makes work that much more enjoyable. Perhaps you are already in a "dream job". Getting a 15% raise in this economy means they really like you as well.

I would really think long and hard before giving up something like this.

[Poster]

Sorry, I guess I left out some info.

My undergrad degree is in Communications, from a private university in Boston.

I'm making under $40K per year currently. If I went to college, pursued a Ph.D. under the same program and became a professor, I'd make more than that. In fact, I'm pretty much guaranteed to make more up there with an advanced degree than I will make here.

My only current debt is a car payment. I will have $10,000 saved by June/July for if I choose to pursue this. I have already deferred for two years, so I have had time to prepare.

My boyfriend would also move with me, and get a job. He is a hands-on kind of guy and we've already found a lot of openings he qualifies for.

That said, I don't expect to come out of this with any debt at all. So I may lose two years of income here, but I'd have a different quality of life, doing something I enjoy. These things are what makes it hard.

As for the program, I'd take the "individualized" route so I could create my own discipline within the NS department. I am not sure I really see this as unstable as everyone else does (I read a lot of northern blogs/news/etc and there is a lot of help needed in this field) so I appreciate the info.

[Poster]

Also -- sorry, I missed one inquiry -- I did some of my undergrad in Sweden. So I have a concentration in Nordic Regional Policy (undergrad/independent study driven). I've been interested in this kind of thing for years, and I'd like to be a part of the northern community. I'm not really motivated by making a lot of money, but I understand good income is important. I'd be happy being a professor. I majored in Communications undergrad because it's something I can use in a lot of different ways and fields. So, thanks for so many of your comments. I have been preparing for this for awhile, so it's not just some stupid thing that occurred to me to do...but I understand the concern about the program.

[Ann]

I think you should go for it. It doesn't sound like you'd be going into debt by going back to school, you'd take a hit on lifestyle allowances and having "fun money" but you're not looking at paying debt off after you graduate.
I live here in Fairbanks and I thought I'd mention a few costs I wish I had known about when I moved up here.
Utilities are more expensive.
If you are planing on renting or buying a home, plan on your energy and heating bill increasing. Gas is also more per gallon than the national average. Right now I think we're paying 2.50 a gallon. The cost of living is higher, but many companies will pay a cost of living allowance. Maintaining a car is more expensive and public transportation is okay if you live in town and or on campus, not great though. The winters are rough on a vehicle and you will spend some time idling your car when it's forty below zero outside and you need the engine to warm up (and the inside of your car) before you actually go somewhere. If you plan on shipping your rig up here, remember that can be a considerable cost. Most people sell their car and then buy a new/used one from the lemon lot on either the air force or army base up here.
Unless you come from a cold climate, you will need to buy good winter gear. Long underwear, good boots, jacket, gloves and hats. There is a Salvation Army here in town if you're comfortable with that option. Otherwise I'd buy some of your cold weather gear before you move up, there are few winter outfitters up here and the mark ups are irritating.
Housing options are interesting and difficult to research online. There are some places close to campus that are great, but are rarely posted on the net or in the paper. If you chose to rent get a flexible lease or a short one and begin looking for a decent place after you arrive and get to know people and the coffee shops. Fbx is still a small enough town where word of mouth counts for something.

I moved up here three years ago in the middle of winter and I love it. It's a small town with great people, easy access to beautiful wilderness and experiences that take my breath away. The Uni is pretty amazing and the NS program is solid, especially if you take some of the science courses. Best of luck to you and I'd be happy to e-mail you more information about Fairbanks if you'd like.