Key Takeaways

Going back to school as a mid-career adult requires a clear understanding of your purpose.
The financial burden can be significant, especially when balancing existing financial obligations.
Explore alternatives like certifications and bootcamps that can offer you faster, more affordable paths to career growth.

Returning to school as a mid-career adult is a significant decision, one that extends far beyond filling out an application or selecting a program. While the idea of earning a new degree can be exciting, it also requires serious reflection.

From financial implications to time commitments and career outcomes, there are many factors to weigh before enrolling.

If you’re thinking about going back to school as a mid-career adult, here’s a practical way to approach assessing if it’s worth it.

Clarify Your Goals and Objectives

Before returning to school, it’s essential to clarify your purpose. Understanding your goals will help guide decisions about what program to pursue, how much time you can commit, and whether the investment is truly worthwhile. Without this piece, you risk wasting time, money, and energy.

“What exactly are you going back to school for, and what do you plan to do with the degree? Are you switching fields, leveling up in your current one, or fulfilling a personal milestone? The more specific you are, the better you’ll be able to evaluate the return on your investment,” said Terry Jones, certified career coach and founder of Trainer Terry. 

Review Your Finances and Potential Costs

The financial burden of tuition, fees, and related expenses can be substantial, particularly for individuals managing life’s financial obligations.

Student loans are often the route students take to cover the cost of education; however, the average debt is $38,375, with about $2,636 in interest annually. Unlike younger students, older adults have less time to recoup their investment before retirement, so taking on student loans in your 40s or 50s can jeopardize long-term financial goals.

But you can still use resources that make education more affordable. For example, employer-sponsored benefits are often overlooked when considering a return to school.

“Many companies offer tuition reimbursement, which can ease the financial burden significantly. If you’re currently employed, this is a benefit worth exploring before taking out any loans,” Jones suggested.

Assess Your Return on Investment

Return on investment (ROI) varies by industry, school, and career path. On average, investing in a bachelor’s degree offers a lifetime ROI of 682%, but it can take about ten years to recoup the initial costs.

Not all programs lead to higher pay or better jobs, so researching outcomes such as job placement rates and average salaries can help you decide.

“You do want to be mindful of your return on investment. If you’re unclear about your next step, you risk spending money and time without a clear payoff,” stated Jones. “Will this degree help you increase your income within a realistic timeframe? Is it a long-term strategic investment or a short-term pivot?” stated Jones. 

Consider looking at data from the Bureau of Labor Statistics, like the ‘Occupational Outlook Handbook.’ This data can help you figure out what the median pay is for certain jobs and whether the industry you plan to enter is growing or contracting.

Re-Evaluate Your Lifestyle

If you return to school, expect to make significant lifestyle adjustments. Your time, energy, and priorities will likely shift in ways that impact your daily routine, and these changes can be challenging, especially if you’re used to more flexibility and free time.

“You might have to cut back on travel, social events, or even work hours. When I returned to school, I had to miss out on a lot of weekend getaways and brunches because I had assignments and deadlines. You’ll need to assess whether you’re ready to temporarily reprioritize your life,” Jones explained.

Understand the Influence of Your Age

Despite laws against age discrimination, some employers may hesitate to hire older candidates. While education can help demonstrate relevance and adaptability, it may not completely overcome workplace bias.

“Ageism is real, but it’s not insurmountable. The key is how you position yourself,” Jones explained. “If you’re older and re-entering the workforce or pivoting into a new space, it’s critical to show that you’re not just experienced—you’re current. Stay on top of trends in your field. Can you speak to how AI is shaping your industry? Are you familiar with the tools, technologies, and conversations shaping the future of work? That kind of fluency levels the playing field fast.”

Explore Alternatives

College degrees used to be the only way to open doors, but the job landscape is changing. Many careers have become more attainable through nontraditional routes such as certifications and workshops. These options may require less time, energy, and money, allowing you to take the next step in your career sooner.

“In today’s job market, the degree isn’t always the golden ticket—it’s about skills, relevance, and positioning,” Jones stated. “Certifications, boot camps, and even associate degrees can open doors if they align with your goals. Sometimes, a short-term program can offer you exactly what you need to pivot into a new role or industry. And with how rapidly the workforce is changing, many hiring managers are more interested in what you can do than in where you went to school.”

The Bottom Line

Returning to school as a mid-career adult can be a rewarding investment in your future, personally and professionally. But it’s not the right move for everyone.

By evaluating your goals, financial situation, and industry trends, you can make a choice that aligns with your current life stage and future aspirations.