As we find ourselves in a time of uncertainty due to the COVID-19 pandemic, where worry about the future is oftentimes top of mind, there are a few things we know are certain – this is temporary, the economy will recover, and Americans are resilient.
During the Great Recession of 2008, many of us faced similar challenges related to the sharp economic downturn because of the subprime mortgage crisis. People found themselves without jobs almost overnight, just as many are experiencing now. While the Great Recession was devastating to the economy, millions of Americans used the opportunity to retool their skills, finish the education they started years prior and obtain advanced degrees. When asked what was motivating them to return to school during a recession, the resounding theme from adult learners across the country was twofold – to be more marketable to employers when the economy recovered and to be better positioned for future economic downturns.
As signs are beginning to point toward a slow recovery from our current health and economic crisis, many Americans are again looking at this time as an opportunity to use education to be more prepared for future career opportunities as well as to ensure job security.
Below are five reasons why now may be a good time for you to invest in your education:
Affordability
As college tuition remains stable and interest rates remain low, this is a great opportunity to take advantage of Federal Student Aid, which comes in the form of low-interest student loans and/or grants. Repayment for student loans begins six months after graduation, which means you can invest in your education now and pay later. Additionally, when the time comes to begin your payments, loan companies typically offer multiple options for repayment based on your employment status and income level.
Competition
As the economy slowly recovers from this recession, jobs may not be added at the rate they were lost during the pandemic. What this means is that there will likely be increased competition for jobs. Investing in your education now will help you get ahead of that competition and be more prepared for the future economy and job market.
Marketability
When you enroll in a degree program, you don’t have to wait until graduation to reap the benefits. Once you are registered for courses, add your expected graduation date to your resume or mention that you are working toward a degree. Begin networking with your professors and classmates. Since most of them are working adults, it is likely they have connections that can assist you in a job search. Utilize Career Services such as resume and cover letter writing and review opportunities, professional development and networking with alumni.
Change
If you’ve been looking at a career change for a while, whether it’s to pursue one that aligns with your interests or a field that provides stability, now may be the perfect time to make that change. Whether it’s answering a a call to serve your community, becoming a practitioner in global leadership and change or finally focusing on your novel or screenplay, there are many options available to you to take that next step on your path to a new career.
Time
While we understand you may be busy with extra responsibilities such as managing children who are now learning at home or taking care of immunocompromised loved ones, you likely have a little more time to spend on your education with the absence of sports practices, PTA events or other extracurricular activities. Use this downtime wisely and begin incorporating your schoolwork into your schedule. When activities resume, you’ll be ahead of the game in terms of time management and able to more easily merge your home and family responsibilities and your education.
Over the past several weeks, we’ve been reminded of the famous quote “adversity leads to opportunity.” Some of the world’s greatest ideas and inventions have been born from moments of immense challenge. While every situation is different, we encourage you to think about your future goals and the steps you may need to take to reach those goals. If education is a part of your plan, we’d be honored to talk to you about opportunities at Tiffin University to learn, grow and make tomorrow better for yourself and your family.
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