Is 40 Too Old To Get a Degree in Economics?

Many students choose to start or go back to school when they're long past the traditional student age.

This is especially true with the flexibility and expansion of online degree programs.

There are many majors you can choose as an adult student, but is 40 too old for an economics degree? It's not!

Keep reading to learn more about getting an economics degree at 40.

Is 40 Too Old for an Economics Degree?

40 is not too old for an economics degree. Many adults beyond the traditional college age choose to start or go back to school.

That being said, there are some particular challenges that a 40-year-old may face, such as managing a job and a family life.

However, there are benefits as well.

A degree in economics can boost your career and there may be additional financial aid benefits to going to college as an older student.

How to Find an Economics Degree for Adults

Because many adult students have full-time jobs or dependents, the best choice is often a flexible program format, such as one offered online or through evening courses.

For many, online is the best option as it allows them to complete their coursework from anywhere at any time.

Look for asynchronous programs, meaning you don't need to log in at a set time.

Other things to consider when looking for an economics degree as an adult include:

• Available concentrations or areas of emphasis
• Courses in the program
• Time to completion
• Credit for prior learning opportunities
• Cost and financial aid

Featured Online Economics Degrees for Adult Students

There are several colleges and universities in the United States that offer flexible online degrees in economics. These include:

• Arizona State University
• Florida International University
• Fort Hays State University
• North Carolina Agricultural and Technical University
• Oregon State University
• Penn State World Campus
• Utah State University
• University of West Georgia
• Washington State University
• Western Illinois University

The programs above all offer 100% online economics programs with courses that can be done around busy schedules.

How Long Does It Take to Earn an Economics Degree?

The amount of time it takes you to earn an economics degree depends on several factors, including:

• The level of degree you're earning
• Previous college or learning experience
• Whether you study full-time or part-time
• If you choose an accelerated or self-paced program

On average, associate degrees take two years to earn, bachelor's degrees take four years, and master's degrees take about two.

However, many colleges allow you to transfer any credits that you previously earned at another institution.

For example, if you already have an associate degree, you can transfer that to a bachelor's degree.

Some colleges and universities also give students credit for life and work experience, such as professional certifications or military experience.

You may be able to take an exam to prove your knowledge and bypass some courses.

The number of credits you take per term also influences how long it takes you to earn your degree. Full-time is typically defined as 12 or more credits per semester, and part-time is anything less.

You may be able to find accelerated programs that run on shorter terms than typical 16-week semesters. Some colleges offer eight, six, and even four-week courses that help you finish more quickly.

Additionally, some colleges offer self-paced programs.

This isn't as common for economics degrees, but these options allow you to set the pace rather than work on the instructor's schedule.

What Type of Job Can I Get With an Economics Degree at 40?

There are many economics careers available to those with an economics degree, regardless of age.

These include:

• Economist
• Market Research Analyst
• Logistics Specialist

Many of these careers offer salaries that average six figures, although the specific amount varies based on the role and years of experience.

According to the U.S. Department of Labor Statistics, many economic jobs are expected to grow in the next ten years.

For example, employment of business intelligence analysts is expected to grow by 35%, employment of logistics analysts is expected to grow by 18%, and employment of market research analysts is expected to grow by 13%.

How Much Does It Cost To Earn an Economics Degree at 40?

The cost to earn your economics degree can vary significantly due to things like:

• The school you choose
• Whether the school is public or private
• If the school is public, whether you live in the same state as that school
• How many credits do you need
• What financial aid do you qualify for

On average, the tuition for a bachelor's degree at a public university in the United States is $9,678 for in-state students and $27,091 per year for out-of-state students.

Private universities charge $55,840 per year.

However, many colleges and universities charge lower tuition for online students, and some public colleges charge online out-of-state students at the same rate they charge in-state students.

You may also qualify for financial aid. To find out, fill out your Free Application for Student Aid (FAFSA).

Financial aid may include scholarships, grants, and student loans.

There are many scholarships and grants available specifically to older students, to students working full-time, and to students who are parents.

Some employers, especially large companies, also offer tuition assistance programs as part of their benefits package.

Earn a Degree in Economics at 40

40 is not too old to get a degree in economics, though it may come with some unique challenges.

With the guide above, you can determine if earning an economics degree at 40 is right for you.