One of the best ways to increase your marketability in tough economic times is to earn a degree. It’s true that a degree is not a guarantee that you will get the job you want and in the timeframe you want, but it is a fact that the unemployment rates for individuals without an education or less education are astronomical compared to unemployment rates for individuals with a degree—especially an advanced degree. As of February 2010, the unemployment rate for individuals with less than a high school diploma was 14.9 percent. For individuals with a high school diploma, the unemployment rate was 10.3 percent. The unemployment rate for individuals with some college, but no degree was 9.2 percent. The unemployment rate for:
- -Associate degree holders is 7 percent
- -Bachelor’s degree holders is 5.4 percent
- -Master’s degree holder’s is 4 percent
- -Professional degree holder’s is 2.4 percent
- -Doctoral degree holder’s is 1.9 percent
These figures combined and averaged bought the overall unemployment rate to 8.2 percent in 2010, according the Bureau of Labor Statistics. Not only does education protect you from unemployment, to a certain extent, it can also keep you out of the low-income bracket. Individuals with a degree earn double (and in some cases triple) the amount per week that less educated workers do.
The bottom line is—education pays, especially in a tough economy where competition is intense and employer’s are in a position to demand more from potential employees. As a result, adults are making the decision to return to school to earn an advanced degree, while others are enrolling in a variety of certificate programs, online degree programs, and more. Hundreds of colleges and universities have reported an increase in graduate school enrollment ranging from 7 to 15 percent, while online undergraduate degree programs have seen a significant increase over the past several years. Some colleges and universities report a 2.3 percent increase in undergraduate online enrollment while others report more than a 10 percent increase.
The reasons for the increase in enrollment in graduate programs and online undergraduate degree programs go beyond America’s current economic crisis. Graduate programs have actually become more accessible through online offerings and international enrollment is up, which helps boost percentages.
The availability of graduate programs online appeals to many full-time working professionals that may also have major obligations at home. The same is true for online undergraduate programs. Overall, these online programs are also a way to conserve and save money. They’re just more affordable, as they eliminate the need to commute and spend.
About Online Undergraduate and Graduate Degree Programs
Most online undergraduate degree programs are an extension of an existing program at a brick and mortar college or university. Online graduate programs, especially MBA’s, are offered in abundance through most accredited colleges and universities. Although online degree programs have the same curricula and requirements as brick and mortar programs, in many cases (and contrary to popular belief) online degree programs are much more difficult.
To successfully complete an online program you must be at least somewhat computer savvy, mainly because you have to master the system you will be using in order to attend lectures, chat, submit papers, post to discussion areas, and more. Programs such as Blackboard and SOAR are common platforms. In addition, you must be extremely disciplined, organized, and focused. It’s a lot tougher when you don’t see your professor or interact with other students several times a week.
It’s up to the student to check in, read through all materials, jot down due dates, post to discussion boards, and contact the instructor if there are any issues. There is absolutely no hand holding in an online environment, but the good news is, in addition to earning an advanced degree, your organizational and problem-solving skills will soar.
Before you enroll in an online degree program, check to make sure the school is accredited. This means that the U.S. Department of Education must recognize the schools accreditation. You can check your school’s accreditation status by accessing the U.S. Department of Education Database of Accredited Postsecondary Institutions and Programs.
About Accreditation
Accreditation is a validation process by which institutions of higher education are evaluated against established standards to ensure a high level of educational quality. Accreditation is accomplished through a peer-review process in which faculty from accredited institutions help to conduct evaluations of either new non-accredited institutions or accredited institutions seeking renewal. The standards used to conduct these evaluations may vary but in general they assess the institution’s mission, goals and objectives, resources and resource allocation, student admission requirements, student support services, and the quality of the faculty and educational offerings.
