Getting the Degree and Debt

Yesterday I said to just get the four year degree. It’s a checklist item and I’ve had several folks comment about how it is a limiting factor in job searches.

One of my friends asked an important question: should you go into debt to get that four year degree?

My initial thought is, “No.” If you’re already gainfully employed, not having the degree isn’t worth going into debt over. Avoiding debt is generally a good idea, as espoused in sites like Mr. Money Moustache. Stop and think about the fact that we’re complaining about crippling student loan debt here in the United States. Debt and having to pay interest on that debt hurts.

But what if your company reimburses? Should you put the course(s) on your credit card or get a second mortgage? The problem with depending on the reimbursement is it might not be there at the end or you may choose not to take the reimbursement. There’s a whole host of reasons why that I won’t get into here. So if it’s not there, you’re stuck with that debt. Better to save up and have the money to pay up front for the hours and if you can and choose to get the reimbursement, you’re in the clear (and can use that money to help with the next round of courses).

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