Many college grads are continuing their educations after earning bachelor’s degrees. Roughly 13.1% of American adults have an advanced degree, which is up from 8.6% in 2000, according to findings from the U.S. Census Bureau’s Eductional Attainment in the United States: 2018. The National Student Clearinghouse Research Center says enrollment in graduate programs continues to grow. It rose 3.6%in fall 2020 from a year earlier, and 4.4% during the spring 2021 semester, perhaps spurred on by the global pandemic and schools’ more flexible course offerings that cater to remote students. Despite their growing popularity, advanced degrees do not always translate into higher salaries or improved job prospects. The research site Educationdata.org says about 9% of Americans have master’s degrees, but the degrees increased employability by less than 3%. Furthermore, the cost of a master’s degree nearly doubles the average debt held by people with bachelor’s degrees, according to the personal finance marketplace Credible.
