I have just completed my first year of grad school. I am currently in a enormous amount of debt from undergrad. I want to continue but I am afraid of accumulating too much debt! Yes I did know this going in about the increasing of debt. I have exhausted many options as far as looking around for financial resources. I am interested in the healthcare field.

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    Did this not occur to you before starting grad school? – Azor Ahai May 10 '19 at 17:18
  • Can you expect a better salary with a post-graduate degree? Can you get any funding? – mkennedy May 10 '19 at 18:27
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    Perhaps, if you rephrase this question, it might be on topic at personal finance & money stack exchange. But you should ask in their chat or on their meta first. – henning -- reinstate Monica May 10 '19 at 18:36

No you should not drop out of grad school. The words "grad school dropout" doesn't fare well on any freshman CV. But, it must also be noted that after the initial slog, it also doesn't matter as much.

I have been told this statement many number of times by professionals who are at much better positions than me (a newly graduated PhD) in terms of both earnings and academic positions.

There is a real dearth of hard-working professionals in every profession.

I know it comes across as a bit philosophical, but I take it as a ground reality after having observed the same. Notice that I do not say talent, because talent seldom makes a person successful, hard work on the other hand almost always does. Also, a freshman with a degree always has more value than one with none.

Having said that, If you are worried about covering your debt after school, you should ponder these thoughts

  • Are you in a graduate course which makes for high employability?
  • If not, can you transfer to a course which offers high employability? CS and Informatics, are some examples of fields that offer very high employability.
  • Can you learn skills or enroll in courses which may increase your value in the job market?
  • Maybe try enrolling in one of the many free courses available online through portals like Udemy and Coursera to increase your value?

Invest as much time as possible towards learning as much as you can with employability being the focus. Furthermore, only learn that which you would love to do yourself because to get ahead in any field you need mostly determination and perseverance. You can only muster these two things if you love what you do. I do not make any mention of money here, because money generally follows people who get ahead in their respective fields.

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    I don't think there is nearly enough information for such a strong response. There are in fact plenty of fields where there are way more PhD holders than jobs. OP could get themselves into so much debt that they will never recover. The first three bullet points are definitely things that OP should consider; the key point is to have a firm plan for what happens after graduation...time passes faster than you expect, and "I'll become a professor" is not a realistic plan for most applicants. – cag51 May 11 '19 at 5:25

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