At what age is finishing a college education financially a bad idea

1,604 Views | 5 Replies | Last: 6 yr ago by aglaes
MPD280
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Not sure this is the right place.
Background- 43 year old cop with 50ish college credits. My daughter is a junior at A&M who just earned her Aggie ring as an ID major which is why I Texans.
I want to earn my own degree, but at my age and with ~17 years in my career at the same agency I don't know if it's worth the money. I intend to work where I am for about 8 more years and I will be 51 then.
I'm at a crossroads, and really just looking for some input from complete strangers with insight but no connection otherwise. Thanks in advance for any and all replies.
Diyala Nick
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AG
As a personal goal, worth it. As a financial goal, it really depends. Do you plan on pursuing a different career after retiring from law enforcement? If not, then no. If so, probably worthwhile.
ArlingtonAg2015
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AG
Similar situation here. Started A&M in '91 and left in '93. 20 plus years in the restaurant / hotel business. Needed a career pivot. Went back to A&M in 2014 and earned BBA in Mgt Info Systems in '15.

Totally new career for me in IT that I'm really enjoying. I will say that with the career move, I'm making less money now than I was prior to returning for the degree.

However, my quality of life has greatly improved, I'm learning new things daily, and am excited about the future.

For me, definitely worth it!
BTW, I'm 46 yrs old.
MPD280
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Thanks for the input. Not sure what will happen after retiring from LE, but I suppose I should hedge my bets and have the degree in my back pocket.
Just take it out of the kids inheritance..
Duncan Idaho
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Sorry about that. Thought I was on the general board
Koko Chingo
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AG
Look into the 100% online degree in Organizational Leadership at A&M Commerce. It is designed for adults with real experience. All of the lower level courses are self paced and a flat rate. You can finish multiple classes for the price of one. All books and materials are included in the price. This may be the best option financially speaking.

This may help open up some doors for you, maybe in administration/Leadership or even training. I believe you can teach at some of the police academies they have at some community colleges with a bachelor's degree and police experience.

As far as the A&M Commerce program goes, you will not be the oldest person in the program.
aglaes
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AG
Depends on a lot of factors:

- How much money do you currently make and what kind of increases (inflation and otherwise) do you estimate for the future?

- Do you have a pension plan with your current job and how would it be effected if you left for another profession? if that is your intention.

- How much will you spend on completing your education, and how long will it take?

- How much money would you anticipate making and increases over time after completing your education?

- How long do you anticipate working before you retire?

- Will an education, a potentially new job/career provide a pension? Will that pension be better or worse than where you are currently?

- What do you consider a good return on your investment 10%?

- How much intrinsic value do you put on having a degree?

- How might a new career effect your quality of life and how much value do you give that?
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