Is it Worth Going Back to College as an Adult?

Updated August 2026

Getting a college education can significantly increase your earning power and can open up a world of job opportunities that are available only to college graduates. However, going to college can also be a very expensive proposition, especially a four-year program at a private college. If you are an adult and you are considering going back to further your education, it is very important to think about whether going back to college will make a good investment or not.

How to Decide if Going Back to College is Worth It

There are a few key factors to think about when making the choice about whether going back to college is a good choice as an adult or not. For example, you will want to consider:

• Whether you plan to work for long enough to make the investment worthwhile.

  If you are going to retire in just a few short years, then going back to college probably isn’t the best choice unless you are going back simply to broaden your mind and you can afford the significant expense. You should think about how much you are likely to make per year after college and figure out how many years, approximately, it will take you to make up the cost of the education. For example, if going back to college would increase your income by $5,000 per year and college cost $20,000, you would need to work for at least four years before you broke even.

  If you plan to stop working or reduce your hours, then you will also need to take the loss of your income during your school years into account.

  To help make this calculation come out in your favor, look into scholarships and grants that may help you to reduce the cost of your education. The Federal Student Aid office lists grants like the Pell Grant, which can cover a big chunk of tuition for qualifying adults.

• Whether your college program will actually increase your income or make you more employable.

  Going to Harvard and getting a degree in business is a pretty good investment and one that is likely to open up a lot of opportunities for you. However, going to a school with a poor reputation or no reputation and/or getting a degree in something that doesn’t directly produce any marketable skills, such as majoring in ancient middle eastern philosophy of theatre and art, might not be such a great decision. Think about whether you will actually be able to get a better job, or advance more in your career, based on completing your college program.

  The Bureau of Labor Statistics confirms that the unemployment rate for those with only some college or an associate degree (7.8%) is nearly double the rate for bachelor’s degree holders (4.5%). The earnings premium is real, but only if the degree aligns with in-demand fields.

• Whether you can afford the cost of college without seriously jeopardizing your financial security.

  Going way into debt or putting a hold on retirement savings can both have serious long-term financial implications. If you will need to do either of these things to go back to college, you may wish to explore other alternatives such as finding a cheaper college or saving up for a few years until you can better afford to go to school. You may also wish to think about easing in by taking classes at night or online while you are working so that you can slowly build up to getting a degree without jumping in and putting yourself into financial danger.

  Student loans from lenders like Sallie Mae or private banks such as Chase can carry variable APRs that inflate your total repayment. Before borrowing, use the CFPB’s student loan comparison tool to see how different interest rates affect your debt-to-income ratio (DTI) after graduation. A high DTI can hurt your FICO Score and limit your ability to get a mortgage or car loan later.

• Whether you have alternative ways to advance your career.

  Consider speaking to your current employer about whether they may offer programs that can help you to advance or learn new skills. You may be able to attend free training at your workplace that can have similar benefits to your career that a college degree would have. Many large companies, including Walmart and Starbucks, now offer tuition reimbursement or even full coverage for online degrees through partnerships with schools like Arizona State University.

The Financial Equation: Costs vs. Earnings Boost

Breaking Down the Numbers

Data from the U.S. Census Bureau’s 2011 American Community Survey paints a clear picture: synthetic work-life earnings for someone with a high school diploma hover around $2.5 million, while a bachelor’s degree bumps that to about $3.5 million, a difference of roughly $1 million. On the low end, adults without a high school diploma rarely cross the $1 million mark. On the high end, professional degrees (medicine, law) push the figure to about $4 million.

But these are national averages. Your personal ROI depends on the field you enter. An engineering degree from a public university like Georgia Tech can pay for itself in a few years; a degree in a low-demand major from a for-profit school like University of Phoenix may never deliver a positive return. Always check the U.S. Department of Education’s College Scorecard for median earnings by program and institution.

The Role of Student Loans and Debt

, total outstanding student loan debt in the U.S. had surpassed $1 trillion, according to the Federal Reserve Bank of New York. Adult learners often carry additional financial obligations, mortgages, car payments, child care, so borrowing for a degree can strain your budget. Federal Direct Loans offer fixed interest rates and income-driven repayment plans, but private loans from banks like SoFi or Chase lack those protections. The Consumer Financial Protection Bureau (CFPB) warns that private lenders may not offer forbearance if you hit a rough patch.

Before signing a loan, calculate your projected monthly payment and compare it to your expected post-graduation salary. A common rule of thumb: total student loan payments should not exceed 10% of your gross monthly income. Otherwise, you risk a debt-to-income ratio that hurts your FICO Score and makes it harder to qualify for other credit.

A Real Arithmetic Example

Consider two paths for an adult with a high school diploma earning $40,000 annually. The first option is to pursue a nursing degree at a community college. Tuition is $15,000, and the program takes two years. The average salary for a registered nurse in 2011 was $66,000. That’s a $26,000 annual increase. Over five years post-graduation, you’d earn $130,000 more than if you’d stayed in your current job, more than enough to cover the $15,000 cost and the lost wages during school. Meanwhile, the cost of a bachelor’s degree at a private university could easily exceed $100,000, with no guarantee of a similar income boost. The data shows the $1 million lifetime earnings gap, but only when the degree leads to a high-demand career.

How Education Level Affects Earnings and Employment

The table below uses May 2011 seasonally adjusted unemployment rates and 2011 synthetic work-life earnings data to show the stark differences across educational attainment.

Sources: BLS unemployment data, Census Bureau earnings data.

Choosing the Right Program for Your Career Stage

Not all degrees are equal, and as an adult, you have less time to experiment. Focus on programs with a clear link to employment. Fields like nursing, information technology, accounting, and engineering consistently show strong returns. Community colleges and state universities often provide the same credential at a fraction of the cost of private schools. For example, a two-year RN program at a local community college can lead to a job with a median salary above $60,000, a solid ROI even if you’re 40 or 50.

Online options have grown, too. Regionally accredited online programs from established institutions like Penn State World Campus or University of Florida Distance Learning offer flexibility without sacrificing credibility. But beware of for-profit online schools that spend heavily on marketing and have low graduation rates. The Ohio Attorney General’s Consumer Advocate newsletter advises comparing prices and checking complaints before enrolling in any program. The Better Business Bureau echoes that consumers should ask about refund policies and verify a school’s accreditation and track record.

Watch Out for Diploma Mills and Low-Value Programs

Some schools promise fast degrees and easy financial aid, but their credentials may be worthless to employers. The Federal Trade Commission (FTC) has shut down several diploma mills that operated out of strip malls or P.O. boxes. Always confirm that a school is accredited by an agency recognized by the U.S. Department of Education. You can check the Database of Accredited Postsecondary Institutions and Programs.

Red flags include: aggressive sales tactics, lack of a physical campus, promises of credit for “life experience,” and tuition that exceeds the cost of comparable public universities. The BBB suggests looking for the Accredited Business seal and reading customer reviews, but even that isn’t foolproof. A better indicator is whether the school’s graduates can sit for professional licensing exams, a must for fields like counseling or teaching.

Alternative Paths to Skill-Building

A four-year degree isn’t the only way to boost your career. Certifications in project management (PMP), IT (CompTIA, Cisco), or skilled trades (electrician, plumber) can lead to high-paying jobs without the time and cost of a bachelor’s. The Federal Reserve notes that workers with a certificate in a technical field often out-earn those with some college but no degree.

Employer-sponsored training is another underused resource. Companies like AT&T and Verizon invest in upskilling their workforce through tuition reimbursement or in-house programs. If you’re already employed, ask your HR department about education benefits. The GI Bill also provides generous education funding for veterans and active-duty service members.

Massive Open Online Courses (MOOCs) from platforms like Coursera and edX let you sample subjects or earn a professional certificate at low cost. While a MOOC certificate alone won’t replace a degree, it can signal initiative to employers and help you test a field before committing to a full program.

Frequently Asked Questions

Is it worth going back to college at 40?

Yes, if you have at least 10–15 working years ahead and choose a degree that increases your earnings enough to recoup costs. A 40-year-old who earns a nursing degree can still see a strong ROI because the salary bump often exceeds $20,000 per year.

How can I afford college as an adult without loans?

Apply for federal grants via the FAFSA, seek employer tuition reimbursement, and look for scholarships aimed at adult learners. Many community colleges offer payment plans and low in-district tuition. The CFPB recommends exhausting all grant and scholarship options before borrowing.

Will I get financial aid if I’m an adult returning to school?

Yes. The FAFSA has no age limit. Adult students often qualify for Pell Grants, work-study, and federal loans. Your eligibility depends on income, not age. Check with the financial aid office at your target school.

What are the best degrees for adults going back to college?

Degrees in healthcare (nursing, radiologic technology), technology (computer science, cybersecurity), business (accounting, supply chain management), and education (special education) tend to offer the highest ROI. Avoid general studies degrees unless you have a specific career path in mind.

How long does it take to break even on a college degree?

It varies. If a degree costs $30,000 and increases your salary by $10,000 annually, you break even in three years. Use the BLS wage data for your target occupation to estimate the boost.

Is online college respected by employers?

Regionally accredited online programs from established universities are generally respected. However, degrees from for-profit online schools with poor reputations may raise eyebrows. Always verify accreditation through the U.S. Department of Education.

Can I get scholarships as an adult student?

Yes. Many organizations offer scholarships specifically for adults, including the Imagine America Foundation and local community foundations. Your employer or union may also have scholarship funds. The Fastweb database is a good starting point.

What if I have a family and can’t attend full-time?

Part-time and online programs are designed for working parents. You can take one or two classes per semester and still make steady progress. Some schools offer childcare assistance or flexible scheduling. Check with the institution’s adult learner services office.

How do I know if a college program is legitimate?

Confirm that the school is accredited by a recognized agency. Search the Database of Accredited Postsecondary Institutions. Also, check with the BBB and your state’s attorney general for complaints. The Ohio Attorney General advises verifying business credentials before paying any fees.

Will my employer pay for my degree?

Many large employers offer tuition reimbursement up to a certain amount per year. Companies like Home Depot, UPS, and Wells Fargo have such programs. Speak with your HR department and review your employee handbook. Some employers may require you to stay with the company for a period after completing the degree.

Making the Choice

Only you can decide if the sacrifice of money and time is worth it to get a college degree. If you get into a good school, can go without financial ruin and can graduate and make more money or do something that you love when you are done, then going back to college as an adult may be more than worthwhile. The $1 million lifetime earnings gap and the 4.5% unemployment rate for bachelor’s degree holders in 2011 make a compelling case. But the decision hinges on running your own numbers, choosing a career-aligned program, and minimizing debt.

For adults with a clear plan and a realistic timeline, college can be a transformative investment. For those nearing retirement or pursuing a low-demand field, the risk may outweigh the reward. Weigh the data, talk to your employer, and explore all funding options before you enroll.

One important caveat: If you’re close to retirement, say, within 5–7 years, the return on investment is likely too small to justify the time, cost, and lost income during study. Even with a strong unemployment rate and earnings premium, the window to recoup the investment is too short. The data shows the long-term benefits, but they’re not meaningful for people who won’t work long enough to see them.