If you are pursuing a degree in order to further your career with academic credentials, the sooner you finish, the faster you can get to work. Many businesses offer incentives to employees who are willing to earn a graduate degree in the field. According to The Parthenon Group, 70 percent of the companies surveyed in their 2009 tuition reimbursement study offered tuition as an employee benefit. However, if you are happy with your current career and are attending graduate school to further your personal growth, a part-time education might make more sense.
Graduate degree programs vary greatly in length. Some degrees take one year to complete while others, like Ph.D. programs, can take 10 years or more. It is important to plan your finances and living situation around the length of your program. For longer programs, it is often necessary to attend part-time in order to work and support a family.
Many graduate programs offer scholarships and financial aid for qualified students. Some schools offer a stipend on top of tuition, for living expenses. According to the website Scholarships.com, graduate scholarships come in several different forms, including: merit-based awards, career-specific scholarships, research fellowships, professional scholarships, North American Interfraternal Foundation scholarships and the Fullbright program, among others. Often, scholarships will be awarded with stipulations about the number of course hours required per semester.
Different programs offer different educational experiences, and some require more focused study than others. For example, if you are pursuing a degree in the applied sciences, experiments can require large time commitments that make attending part-time impossible. On the other hand, many courses of study do not include time-sensitive material and can be pursued over a longer period of time.
According to the website Graduate School Admission, many program options exist beyond just full or part-time study. Virtual campus programs allow students to earn graduate degrees online on sliding schedules. Some schools offer mid-career programs that give credit for professional experience that allow students to earn degrees in less time. Still others offer certificate programs with a narrow focus for specific job skills.