Is a MSW Worth it?

[SOWK 26]

I am about to graduate in May with a BS in Social Work and I have been accepted into two graduate programs, (one in state/ one out of state), but I'm starting to have some doubts. When I graduate I will not have ANY debt and its a great feeling! However, all I have ever heard from all of my professors is that I need to get a MSW. I want one, but not at the risk of getting into 40k worth of debt. I might be persuaded to do so, if  it would be worth the return in my career for higher earnings, but I have heard mixed thoughts about this. No debt with an average earning of 30k working in a nursing home for me is manageable starting fresh, but 40k debt with a MSW making 35K is not something I want to do. Someone please help, I  want to know is it worth going into debt to get a MSW with advanced standing knowing that when I am finished I will not have real experience (except field) going into the job market.

[sugarandspice]

Definitely try to get an MSW if you can. You can't really do much field work or clinical practice without. There are many more job opportunities and ultimately a higher pay. I would look into schools where you can get as much scholarship as possible.

[morningjunky]

The master’s in social work has become “absolutely essential” to advance in the profession, says Jacqueline B. Mondros, dean of Hunter College’s School of Social Work, of the City University of New York. Ninety percent of the members of the National Association of Social Workers, the field’s largest professional organization, have an M.S.W. But the return on investment won’t tempt. For social workers with the advanced degree, the median salary in 2009 was $55,000, according to the group’s research. Social workers with a B.A. earned $15,000 less, while Ph.D.’s added $17,000 to their median pay.

And the investment? Students seeking an M.S.W. borrow an average $35,500; a degree can cost about $20,000 at Hunter or $80,000 at Columbia. By comparison, their M.B.A. counterparts borrow on average $32,000, and more M.S.W. candidates borrow (three-quarters of them; half of M.B.A. students borrow).

The rule of thumb for borrowing, says Mark Kantrowitz, publisher offinaid.org, is that debt should never exceed starting salary. Ideally, he adds, it should be half that.

“I’d be the last person to say not to pursue a dream,” Mr. Kantrowitz says. “But do it with your eyes open.”

http://www.nytimes.com/2011/07/24/education/edlife/edl-24roi-t.html?pagewanted=all

 

[Analyticchic]

A friend of mine graduated from University of Penn with a Masters in Social Work. I know they gave her some money while she was studying there but not much and even had to take loans to pay for her apartment. But she also went to school out of state during undergrad and is still paying for that. If you can find a program that will fund you fully and don't have too many loans from undergrad, go for it. However, it is said that social workers take a lot for very little pay.  But if it's your dream, nothing will stop you.

[tudor3x8]

I think it depends on what your end goal is career-wise. Right now I have a decent administrative position, but I know that I'll need a masters to get close to my objective.

I'm applying to MSW programs, and I don't believe that any will offer full financial aid (great packages and/or cheaper tuition, absolutely, but a full ride? Probably not). That being said, I was lucky to have been given a full ride for my undergrad, so loans I will take out now won't seem as bad. It's not fun to know that I'll need to take out loans for sure, but I know that I won't be able to work in mental health in a position that I want without the degree (and becoming an LCSW...)