A master's degree is becoming increasingly valuable when it comes to working your way into a high-paying career. But, there is a downside: Two more years in school means more lost income and the potential of (more) student debt.

Accelerated master's degrees save majoring students the cost and study time of graduate admission tests, application fees, and extra courses. By applying for an accelerated master's program, you can take courses toward your master's in your junior or senior year and get course credit for your undergraduate and graduate degrees.

Accelerated Master's Program Admission Requirements

Accelerated master's degrees often have tough admission standards, and you generally have to wait until your undergraduate sophomore year to apply. A grade point average above 3.5 is often necessary and preference is given to students already enrolled in that university, says Counsel of Graduate Schools Dean in Residence, Bill Weiner.

The reason is that schools want to retain their upper echelon of students for their master's programs and students who experience academic success at their university in their undergraduate courses will likely do well in their graduate school.

Commitment

Research your field thoroughly before you enroll in an accelerated master's program. You don't want to get through a master's program and find out through work experience that you'd rather pursue a different career path. Thus, career planning begins today:

• Complete a summer internship
• Talk to your career counselors and academic advisors
• Arrange shadow days

Academically, take at least one course in your major each semester. Join professional organi☂zati🐬ons with on-campus student chapters such as the or . These organizations offer fantastic networking opportunities with professionals working in your potential career field. 

Course Credit

Some courses may count toward both degrees in your senior year. Colleges have varying ranges for the time needed to complete your degree and the number of courses that will earn you dual credit, but the dual credit can help you complete a bachelor's degree in May and your master's as early as December of the same year.

For example, if you finish your undergraduate degree with 12 graduate credits and your master's degree requires 36 credits for completion, you could complete your graduate degree after your undergraduate graduation by taking 12 credits over the summer and 12 in the fall. If your university allows six credits from your bachelor's degree to count toward your master's degree, you may not complete a master's in seven months, but at least you'll still have a six-credit head start.

You have to be extra diligent to earn at least a B in dual-credit courses. While a C-grade in a course can earn you credit in a bachelor's program, many accelerated master's programs require Bs or above to earn credit and sometimes to avoid program expulsion.

Career Advancement

The difference between a bachelor's and a master's degree in job opportunities after graduation is tremendous.

According to Weiner, someone enrolled in an accelerated master's program in 澳洲幸运5官方开奖结果体彩网:human resources (HR) could graduate as a hospital administrator instead of a human resources manager. Similarly, accounting majors need a master's degree to become 澳洲幸运5官方开奖结果体彩网:certified public ﷺaccountants (CPAs). Studies suggest that workers with master's degrees 澳洲幸运5官方开奖结果体彩网:earn considerably more throughout their careers. 

Cost Savings

While annual costs vary by university, you can save a lot of money by reducing your school course requirements. The average 澳洲幸运5官方开奖结果体彩网:cost of attendance (based on data from the National Center for Education Statistics) for full-time undergraduate students at public schools is $27,146 per year. This cost includes tuition, fees, and on-campus housing.

If you save six months by completing a semester's worth of credits during your undergraduate degree, you could save yourself more than $7,500. The actual amount you save will vary based on the cost of tuition at your school, scholarships, and grants awarded, and the number of credits required for your master'♊s degree.

Scholarships

Undergraduate 澳洲幸运5官方开奖结果体彩网:scholarships are likely to cover graduate-level courses that dually count towards your undergradu🌺ate degree. However, you will need to apply for new financial aid when you officially graduate from the undergraduate portion of your program.

As soon as you decide, you want to pursue an accelerated master's degree program, meet with a financial aid counselor to discuss 澳洲幸运5官方开奖结果体彩网:graduate school grants, S✃tafford Loans, and scholarship programs as well as PLUS Loans. The earlier you begin your research, the better off you'll be. 

The Bottom Line

If you know you want to pursue a master's degree, especially within your major, accelerated master's programs can save you time and money. However, finishing faster should never mean giving up career exploration opportunities. Be sure to 澳洲幸运5官方开奖结果体彩网:solidify your career path with field𒆙 study as soon as possible and do as many shadow days and work 🏅internships as you can manage. Balance your work experience by focusing on your GPA. With top-notch grades, education, and in🍬ternships, you'll sail into your first post-graduate position.