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Essay / Research Paper Abstract
This 5 page paper considers the benefits and costs of attending graduate school as opposed to going out to get a job. Costs and benefits are analysed as are supply and demand with consideration given to indifference curves. Costs cited are United States costs. The bibliography cites 3 sources
Page Count:
5 pages (~225 words per page)
File: TS14_TEgradsc.rtf
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Unformatted sample text from the term paper:
to go to work there is an immediate payback back; they will have a wage which can be used to purchase goods which are likely to rise in price, such
as real estate. They are also able to gain a foothold on the employment ladder before those who go to graduate school. However, there is also a cost attached. They
may avoid additional educational costs, be able to start repaying loans sooner and gain a head start, but there is an opportunity cost attached. In going to work they also
loose the opportunity to gain increased academic qualification such as a maters or PhD and a potentially higher wage which will increase their long term net earning capacity. However, there
were also some associated costs. Firstly there are the tuition fees, these can amount to anything between $34,220 - $54,800 (Harvard Magazine, 2002). However, these are not the only costs
involved, as during this time there are also living costs incurred. The average GSE attendance figure has been calculated for $43,350 for masters kevel graduate school (Harvard Magazne, 2002). Working
through graduate school may be very difficult, as such the majority of these expenses will usually come form loans, even where a scholarship may be gained for some or all
of the education costs. On top of this there are also the lost wages whilst at graduate school, with a doctorate taking up to seven years the accumulation adds up.
The debt can be very high, averge debt of a Ed.D student may be up to $70,000, however it can be up to $135,000. When the average wage difference
is measured there I not an economic argument for attending graduate school. The averge wage for a collage graduate is $36,000. For a masters level graduate the averge wage
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