• A new study has shown that the average lifetime earnings for 2-year degree holder is $1.6 million — $400,000 more than high school graduates alone are earning.

• 1 in 5 American students took at least one online class in 2008. That 4 million students doing some coursework at a “distance”.

• 10% of American post-secondary students (400,000) are enrolled in exclusively Internet-based learning. Distance learning is up across the board — for example, this Colorado-based e-school saw a 29% jump in enrollment.

• 2 our of 3 post-secondary institutions in the United States were offering some type of distance education courses — whether fully online or a blending online/brick-and-mortar option

• Remember, accreditation is key, especially when it comes to an online degree. No diploma mills! Learn more about accreditation from About.com’s Guide to Distance Learning, Jamie Littlefield.

To start checking out online degree programs that might work for you, read our section on distance learning and then visit Online Degree Zone.

For others, it’s just a friendly place to wait out the recession. Whatever the reason, the higher education boom has been felt across the spectrum, but nowhere more so than in online education.

According to the Sloan Consortium, online education grew much faster in 2008 than brick-and-mortar schools. There’s been a major jump in enrollment for online colleges, with some websites reporting 18 percent or more.

And it’s not just for-profit online universities that are growing. Traditional universities are getting in on the distance learning action. The budget crisis facing state universities will likely drive the number of online degrees up as well — since per student, it costs a university significantly less to offer an online course, especially when that class is repeated numerous times.

Does going back to school online sound appealing to you? Here are some great links you should check out:

• Is an online degree right for you?
• Accreditation of online degrees
• Financial aid for distance learners
• Online degrees thriving during the recession

Many would-be online learners have been deterred, however, by the concern that an e-degree will not be respected or accepted by future employers. That tide is turning.

Recently a number of experts have joined the distance learning bandwagon. From career recruiters who say that online degrees are just as reputable as ones from brick-and-mortar schools to legendary former GE CEO Jack Welch, who just announced his plans to launch an online MBA.

Today, the news got even better for online learners, with the release of a groundbreaking meta study by the United States Department of Education, which lauded the superior outcomes of online learners.

Online students performed better, on average, than those taking the same courses in face-to-face instruction. The best achievers, however, were those students who experienced blended learning — elements of both online and face-to-face learning.

The biggest benefits of online learning, according to the study, are derived both from the use of new technology…

Studies indicate that manipulations that trigger learner activity or learner reflection and self-monitoring of understanding are effective when students pursue online learning as individuals.

… and from the benefit of more time to concentrate on tasks.

Studies in which learners in the online condition spent more time on task than students in the face-to-face condition found a greater benefit for online learning.

If you are considering an online degree, here are some past JobMonkey blog posts you may want to read through:

• Is An Online Degree Right For You?

• Accreditation of Online Degree Programs

Also be sure to check out JobMonkey’s sister site Online Degree Zone. With over 11,000 online degree programs to choose from, it has everything you need to know about distance learning.

Interestingly enough, there is a lot of cross-over between the Forbes list and the job categories we feature at the JobMonkey.  Thing that make you go hmmm, indeed!

Here are three of my favorite surprising six-figure jobs, according to Forbes:

Casino Gaming Manager Jobs
Got a background in marketing, but not sure what to do with it? Head to Vegas … or Atlantic City … or any one of the dozens of regional gaming sites popping up across the United States. According to Forbes, the top 10% of gaming managers earn $106,220 a year; the average gaming manager salary is $69,600/year. Want to learn more? Read up on casino jobs at the JobMonkey!

Air Traffic Controllers
On-the-job stress may be sky-high for air traffic controllers, but apparently so are their salaries. The top 10% of earners made an average of $141,860 in 2006, and the median annual salary for controllers was $112,930. If you are willing to relocate for your job, go to Chicago, Illinois, where O’Hare controllers make the highest salaries in the country. To learn more about what the job entails, check out this article on Air Traffic Controller Jobs. You can also start your airline job search at JobMonkey’s partner website Airline Job Finder.

Post Secondary Educators
According to Forbes, there is a good deal of money to be earned up in those ivory towers we like to call colleges and universities. Okay, so you have to get your PhD first, which will take a good five years, and you have to be willing to enter the publish-or-perish rat race, but for a median six-figure salary, the “sacrifice” just might be worth it! Interestingly enough, Forbes reports that the top-earning profs are those working in the economics department. Law professors aren’t doing too bad either, according to our research. And while online teachers don’t earn quite as much as their brick-and-mortar colleagues, distance teaching might be a good way to break into the industry. To learn more about the Internet teaching niche, read this article on Becoming an Online Course Instructor.

By the way, are you subscribed to the JobMonkey newsletter yet? If not, you should be! This week’s newsletter, for example, was all about how to land a coveted six-figure job!

For those who have been laid off (or fear being laid off), working on an online degree can be an easy and convenient way to enhance their resumes while still having plenty of time to job search.

Online programs are upping their marketing ante to focus on attracting career changers. And it isn’t just the slogans that are changing. A number of new programs have been created to target the most in-demand, recession-proof fields, such as nursing and education.

Penelope Trunk (one of my favorite career bloggers) is quoted in the article as saying that finishing up a Bachelors degree online is a wise investment, but working toward a Masters degree won’t give you as much bump for your money. Instead, she suggests, volunteering at a company you want to work for.  I’ve posted here on the blog a number of times about how to volunteer your way into a new job, but Penelope’s idea is a novel twist on the concept.

If you are considering an online degree, here are some past JobMonkey blog posts you may want to read through:

• Is An Online Degree Right For You?
• Accreditation of Online Degree Programs
• Financial Aid for Distance Learners
• Should you go back to school?

Also be sure to check out this cool site, Online Degree Zone. With over 11,000 online degrees programs to choose from, it’s got everything you need to know about distance learning.

A story today on CNN’s Money Magazine focused on this growing trend to retrain, especially among the more “mature” worker.

If you are considering going back to school after a layoff, here are three questions you should ask yourself:

Can I afford the tuition?
Many states offer retraining programs, which are free or highly subsidized, for people receiving unemployment benefits. If, however, you are planning to pay for school yourself, will you be able to cover tuition out of your checking account? Or will you need to take out student loans?

While we all hope that this recession-slash-depression is short-lived, economic forecasters are predicting at least another 12 months until the rate of job loss stabilizes — and much longer until we are back to 2007 levels of employment.

In other words, despite your best intentions, it may still take you a while to find a job after you finish your degree or retraining program. Will you be able to handle the loan payments on top of living expenses? Bear in mind that student loans are one of the only forms of debt that can not be rolled into a personal bankruptcy.

Will my new career field pay as well as my old one?
The CNN story focuses on this issue, particularly amongst workers laid off from manufacturing jobs.

…starting over in a new career can often mean entry level positions with lower salaries and less-desirable shifts. This is especially true for those in manufacturing, many of whom pulled in more than $25 an hour with just a high school diploma.

Before you enroll in classes, take some time to investigate the field. What are starting salaries like? And how much can one expect to earn after a few years on the job? Is there room for advancement? And how quickly can one typically advance? If you are in your late 40s or older, the rate of advancement is especially important, since you probably do not have another 25 years to spend working up to a senior-level position that is better paid.

Will my new profession be a stable one?
While companies and organizations across the spectrum are being hard-hit by this recession, some professions are still “safer” than other. Nursing, for example, continues to be in high demand despite cutbacks at many county-funded hospitals.

Tenured teachers also tend to fare well during a recession, although educators around the country are currently reporting forced pay-cuts and even job losses at their schools.

Other industries are notably less stable, such as tourism, entertainment, and marketing. But what if you have always dreamed of being a travel agent? While I would never counsel you to ignore your career dreams, I would suggest that you exercise caution. Revisit the above questions and make sure that you are prepared to (1) pay for school now (or pay off your loans later) and (2) wait out a possibly protracted job search after you finish your degree/retaining program.

Is going back to school on your horizon? What are you planning to study? Leave us your thoughts in the comment section!

Today, I am focusing on financial aid for distance learning.

Here’s the good news:  As long as you are attending a nationally accredited program (here’s a link to a list of accredited online schools), you are eligible for the same federal and state financial aid as a student attending a brick and mortar school. This also applies to most private scholarships, although some scholarship committees may chose to give priority to students at a B&M school.  On the other hand, there are a growing number of scholarships specifically designed for distance learners, so you may even be at an advantage when it comes to private aid.

Let’s take a look at the various forms of financial aid available and what you need to do to qualify.

Student Loans
There are a variety of loans designed especially for college students, including federal government loans and private loans.  To qualify for federal loans, which are called the Stafford and Perkins loans, you must complete the FAFSA application, the Free Application for Federal Student Aid.  This form includes information about your and your family’s financial ability to pay for schooling.  You can find the form at www.fafsa.ed.gov or at your school’s financial aid office.

Whether you take out a private loans or federal loans, or some combination of the two, you will be required to pay back the principle of the loan plus interest upon your completion of school.  While you are enrolled in school, you are in so-called grace period, meaning you do not need to make payments on your loan.  With private loans, your interest will start to accrue while you are in school; with some federal loans, interest accrual will also be in a grace period during your studies.  Once you graduate, if you drop out or even if you just take a semester off, your grace period ends and repayment must begin.

As a rule, government loans have lower interest rates and more flexible repayment terms.  However, the total amount you can borrow is capped and it does not always meet the total need of every student.  Many therefore turn to private loans — in addition to or instead of federal loans.  Be sure that you understand all the information about your student loan repayment terms before signing on the dotted line.  Student loans are not bankruptable, so even if you encounter a dire financial emergency, you will still be required to make good on your student loans.

Grants
Grants are gifts of money that do not need to be paid back. There are federal, state and private sources of grants. To qualify for a federal grant (the most common is the Pell Grant), you must complete the FAFSA. Most federal grants require that you have extreme financial need and maintain a minimum GPA.

State grants are often available to children of service officers, particularly those who were wounded or killed in the line of duty. There are also a wide variety of grants for minority students. 

The Financial Aid Finder website has a comprehensive list of grants for African American students, grants for Hispanic students, grants for students with disabilities, and grants for women students.

Scholarships
Like a grant, a scholarship is a gift of money that does not need to be repaid. Scholarships are often awarded based on academic ability, athletic ability, or artistic or musical talent. Some scholarships support students from a particular city, heritage or religious background. There are even plenty of unusual scholarships for things as innate as being left-handed or as obscure as wearing duct tape to your senior prom.

Start your research into scholarships at your school’s financial aid office (even online programs now offer financial aid counseling!) or online. But be warned: While there are dozens of reputable online search engines, any site that asks you to pay them for their scholarship info is a scam.  Here are more tips for picking the right scholarship search engine.

That’s it for me on financial aid for distance learners. Questions? Comments? Personal experience with applying financial aid to your online school’s tuition?

This week, however, we’re taking a short break to look at the educational requirements of a career in the gas and oil industry.  The field offers a number of high paying opportunities, and even with the current economic crisis, these jobs are still in high demand.  That’s the good news.

The less good news (well, only if you’re not the perpetual student type) is that most of these positions require an advanced degree — at least a Master’s Degree, and preferably a PhD.  A 2006 survey by the Society for Petroleum Engineers shows that engineers with advanced degrees earn an average of 30 percent more than those with just an undergraduate degree.

Good disciplines to consider include Petroleum and Chemical Engineering, as well as Geology and Earth Sciences.  See Job Monkey’s extensive list of schools with top rated graduate programs in gas and oil industry fields.

Apropos to our ongoing conversation here about online degrees, there are a growing number of distance learning options for the gas and oil industry as well. Like your course of study at a brick and mortar school, online classes will cover the managerial and technical aspects of oil engineering.  Other academic subjects may include geology, geophysics, drilling methodology and seismology.

What is accreditation?
According to the U.S. Department of Education, the goal of accreditation is to

ensure that education provided by institutions of higher education meets acceptable levels of quality.

The DOE meets this goal by publishing an annual list of accredited schools in the United States. The actual rubber stamp of accreditation comes from a private accrediting agency, of which there are several in the United States. (To learn more about the purpose and process of accreditation in the United States, visit the DOE’s Database of Accredited Postsecondary Institutions and Programs).

Why does accreditation matter with online learning?

Whether you chose an online program or a brick and mortar school, accreditation is always important because:

- Prospective employers may look at a degree from a non-accredited school with dubiety
- Graduate schools will not accept your application for admission if your transcript comes from a non-accredited school
- If you wish to transfer schools (either to another online school or to a brick and mortar school), only students from accredited programs will be accepted for transfer. (Bear in mind, however, that accreditation is not the only factor in accepting transfer credits – GPA, course works and other factors may play a role as well.)

Given that online degrees have been the subject of many scams and schemes (aka diploma mills), choosing an accredited distance learning program is especially important. 

Not only will it help you with perspective employers and grad schools, but accreditation will also give you peace of mind.

Another plus to choosing an accredited distance learning program is that the accrediting agency has done much of your essential researching legwork.  Agencies that accredit distance learning programs look closely at things like faculty support and technological equipment to determine whether the school has sufficient resources to effectively engage students from a distance.  That’s why accreditation is one of the most important distance learning considerations for a prospective student.

Should a non-accredited program ever be considered?
Despite the plusses of accreditation, you may find yourself contemplating enrollment in a non-accredited online program.  That’s not always a bad thing.  If you are seeking a degree (B.A. or higher), definitely go for accreditation for all the reasons above.

If your employer wants you to get certified in a specific skill — like HTML or Photoshop — you may need an accredited program in order to get reimbursed from work for the cost of your classes.

But if you just want to learn a new subject or develop a new skill for your own benefit, you may well find that an unaccredited program is more than adequate.

No matter what program you choose, checking on the accreditation status should not be the end of your research.  In fact, it should be just the beginning.  You still need to check around — online, with friends and colleagues, at the Better Business Bureau — to find out whether the institution is reputable.  There is nothing than worse than giving out your credit card information… only to find out you’ve been scammed.

Tune in next week for Part 3 of this series on Distance Learning when I talk about financial aid for online learners.

And a belated Happy (start of) Hanukkah to all you readers celebrating the Jewish Festival of Lights.

Whether it’s because you need to earn money NOW, or you just aren’t sure if college is the place for you, or any of a myriad of other reasons, the traditional four-year plan to a Bachelor’s Degree at a brick-and-mortar college is definitely not for everyone.

The good news is that in the last decade, your options for education have grown exponentially. 

Choosing not to GO to college no longer means you can’t earn your degree.  Online education, also known as distance learning, is an increasingly popular, viable and reputable way to pursue higher education.

But just like attending traditional college, enrolling at an online school isn’t for everyone.  How do you know if an online degree is right for you?  Factors will include your work and personal schedule, your learning style, your personality, and your technical savvy.

If you are contemplating pursuing an online degree, ask yourself these five questions to see if distance learning is the way to go:

1) Are you currently employed?
Most online learners are also full-time workers.  In fact, one of the major benefits of getting a degree online is that the schedule can be compatible with a full-time work schedule.

2) Are you prepared to study full-time or will you need to take some breaks in your schedule?
Traditional students do best when they attend college full-time for four or five years, tops. Online degrees, on the other hand, are betters suited to non-traditional students, who need to take some breaks in their learning — whether it’s too earn some more money to pay for school or to focus on family responsibilities.

Breaks in learning are more common and less distracting from your overall educational success with an online degree program. That said, just like when you enroll in classes in a traditional college or university, enrolling in an online class means you have to finish the class to earn the grade.  And even if you do drop out for whatever reason, you still have to pay the bill!

3) What kind of learner are you? Visual, auditory or kinesthetic?
Doing well in an online learning environment requires strong visual learning skills.  Some professors stream their lectures, as well, which is good news for auditory learners. However, if you are a kinesthetic learner, you should know that they do not do as well in online situations since there are few to no opportunities for hands-on learning.

4) Are you a self-motivated learner or do you learn better in groups?
While many distance classes offer online forums and networking, that interaction does not provide the same kind of feedback that you can get from a seminar or discussion group at a traditional college.

Online learners, therefore, need to be internally motivated.  Many students do their best work on their own; others do better when they have a lot of interaction and idea-sharing with fellow students.  Which kind of student are you?

5) Do you own a computer and have high-speed Internet access at home?
Today you can buy a brand-new, fully outfitted desktop computer for less than $1,000.  Even top-of-the-line laptops run less than $2,500 (with several models under $1,000). High-speed Internet access is also not a huge monthly expense.  When bundled together with your phone or other cable services, it can run as low as $20/month.  We have neither cable nor a landline and still pay just $35/month for the highest speed our provider offers.

My point is this: Being properly set up for online learning requires, at a minimum, an up-to-date computer and high-speed Internet.  A printer would also be helpful.  These are not huge expenses, but they are not optional. You cannot be a successful online student if you are borrowing your brother’s computer when he’s at work and surfing for free at the public library.

To learn more about distance learning, do some research about online degree programs, schools and their reputations. And stay tuned next week when I talk about accreditation and financial aid for online degree programs.

Have you ever taken (or taught!) classes online? Tell us about your experience.