More on not getting a Ph.D.…
I’m a great believer in the benefits of an undergraduate education when it’s done right (which is rarely). But grad school is a different matter entirely: the opportunity costs are much higher, the amount of debt involved rises substantially, and the range of jobs you can do at the end of it in many ways goes down rather than up.
Right now, a lot of people are thinking of going back to school, just because unemployment is high and well-paying jobs are hard to find. But anybody doing that should be very careful indeed about the debts they’re racking up. They could end up hurting much more than any degree will help.