With the unemployment rate for people in their twenties hovering around 15 percent, it’s tempting for recent college grads to just skip the terrible job market and stay in school. And many of them are doing just that. Last year, there was a 6 percent increase in graduate school enrollment, and this year, 27 percent of college grads will go to grad school instead of entering the job market. But Takeaway work contributor Beth Kobliner says it might not be the best choice for everyone.
She lays out the hard numbers on the debt people will likely incur by going back to school, and whether they’ll even get a better job out of it at the end of the day. Deanna Nairns is one of those people. Last October, she graduated with a master’s in film studies, but she’s considering going back for a PhD because she can’t find work in her field. Nairns joins us from the bakery where she’s been working to pay the bills.