Investing in Yourself: Is Adding More Student Debt Worth It?

If you already carry student loan debt and are concerned about adding additional student loan payments, the idea of returning to school can feel risky. It’s not so much a question of whether higher education has value — but whether the cost of returning to school is practical amidst work, family, and other financial responsibilities.

For thousands of adults across Indiana — particularly those who began college but never completed a degree — this decision carries both emotional and financial significance. So, how do you decide?

Understanding ROI Beyond the Tuition Bill

Is college worth it for adults who already have student debt? Although returning to college with debt might seem counterintuitive, it's important to look beyond the initial cost of school and consider the long-term return on investment (ROI) of a college degree, particularly if you are considering options such as a repayment assistance plan.

For adult learners, for example, having a degree, while understanding student loan information, can improve long-term employability, enhance career mobility, and minimize the chances of job loss. Meanwhile, earning a specialized degree could open doors that otherwise remain closed to those with only partial credentials or no formal education.

It’s also important to consider the college ROI for working adults compared to adults with no degree. According to the Education Data Initiative, the average lifetime ROI for a bachelor's degree is more than 680% — with a 66.1% higher weekly wage than those with a high school diploma alone.

The Reality for Adults With Some College but No Degree

What if you have some college credit beyond high school, or even an associate degree? These individuals may consider a student line of credit because they have already invested time and money into an education, but have yet to see the full economic value of a completed bachelor's degree.

By finishing your degree, you could see a notable return on investment. In fact, between an associate degree and a bachelor's degree alone, the Education Data Initiative reports a 41.1% increase in average earnings.

Associate vs. Bachelor’s: What the ROI Conversation Looks Like

In addition to the notable associate degree vs. bachelor’s ROI, there are potential advantages when it comes to finishing a degree as a working adult — no matter what your current level of education may look like.

The Associate Degree as a Foundation

It can be helpful to think of an associate degree as a foundation not just for your higher education, but also for your career and student aid opportunities as well. In many fields, this degree can provide quicker entry to the workforce, as well as added stability — particularly in applied or health-related fields where clear pathways to licensure and certification support long-term employment. Additionally, understanding federal loan options can serve as a manageable, momentum-building step that allows students to advance their education and careers without committing upfront to a longer program. 

The Bachelor’s Degree as a Multiplier

A bachelor's degree can lead to higher earning potential and open up new doors of opportunity within a chosen field of study. In some industries, having a bachelor's degree may qualify you for leadership roles and other opportunities that you might not be able to pursue with an associate degree or high school diploma alone.

Furthermore, if you already have some college credits under your belt, the cost of finishing a bachelor's degree might be even lower than you think — especially when you consider short-term student loan application debt vs. degree ROI over the course of several years.

Why Completing a Degree From Home Changes the Equation

For many adult learners pursuing higher education in Indiana, cost is just one concern. Another valid issue is completing a degree while working. The good news? The increasing availability of online education has shifted the conversation for adult learners, making it more feasible than ever to juggle a college course load with work, family, and other life responsibilities. 

Completing coursework from the convenience of your own home can help you avoid the need for relocation costs, eliminate commute time (and related expenses), and allow you to complete coursework on your own time and at your own pace. There’s no need to sacrifice income, skirt family responsibilities, or put professional lives on hold.

Student Debt and the Emotional Side of the Decision

Taking on debt is more than just a financial concern or financial situation. For many, it's emotionally daunting. Negative past experiences, unrealized ambitions, and fear of making mistakes can also deter adults from returning to school. 

If you're feeling unsure about committing to a return to school, it's healthy to acknowledge these concerns. At the same time, you can still recognize that completing your degree may bring long-term financial freedom, professional confidence, closure, and even increased motivation as you pursue your career goals.

Financial Aid, Employer Support, and Cost Transparency

Prospective adult students should consider how modern undergraduate programs now offer clearer tuition structures and more financial aid guidance than schools did in the past. This, in addition to more employers offering some form of tuition assistance, means that you may be able to combine resources to reduce your out-of-pocket costs and make more informed, confident decisions about your education.

Why Indiana’s Adult Learners Are Reconsidering Degree Completion

With employers increasingly valuing completed degrees as indicators of commitment and adaptability, now is a great time for working adults to return to school and complete their degrees, especially for those considering federal or provincial loans. Today, more than ever, the workforce in Indiana needs educated and skilled adults who are ready to take on the unique challenges and opportunities of their respective fields. For adults who have already invested time and effort in higher education, completing a degree can deliver meaningful professional benefits alongside a renewed sense of personal accomplishment. 

Conclusion: ROI Is About More Than Numbers

Taking on more student debt is not a decision to be taken lightly. However, neither is leaving opportunity on the table in a workforce where college degrees are heavily preferred by employers.

For many adult learners in the modern workforce, the ROI of completing a degree includes not just higher pay, but increased career stability, expanded opportunities, and the freedom to move forward without unfinished business holding them back.

The key, of course, is choosing the right program that will support your unique learning needs and goals. This often means finding a flexible online program with coursework that can be completed outside of "traditional" hours. With greater versatility and transparency in tuition costs, completing a degree can feel more like a strategic investment rather than a financial and logistical gamble.

Explore Undergraduate Online Programs at Marian University

If you've been thinking about finishing your degree, take some time to crunch the numbers for yourself and factor in the required documentation for the potential ROI. From there, research programs and find the option that's truly best for you.

At Marian University, we take a lot of pride in our wide range of degree offerings, including online programs that are designed with the needs of working adults in mind. This, in addition to our robust financial aid options, makes Marian University an excellent choice for returning learners who want plenty of support and resources as they transition back to school.

Get in touch to request more information about any of the programs we have to offer. We'd be happy to answer any questions you may have and provide you with resources for financial aid. Eager to get started? You can fill out your online application or learn more about the admissions process here.

Sources

• https://www.marian.edu/admissions/
• https://www.marian.edu/financial-aid/
• https://www.marian.edu/online/ 
• https://www.marian.edu/academics/programs/ 
• https://www.apa.org/monitor/2021/09/cover-remote-learning 
• https://educationdata.org/college-degree-roi 
• https://nces.ed.gov/programs/coe/indicator/ssa/college-student-employment 
• https://www.cnbc.com/2023/05/26/many-companies-offer-tuition-assistance-for-workers-to-go-to-college.html 
• http://hechingerreport.org/no-college-degree-no-problem-not-so-fast/