The Pros/Cons of an Online Masters Degree

Ten years removed from college, and for the first time in a decade, I'm flirting with the idea of continuing my education. I'm honestly not sure where this newfound idea is rooted. Boredom? Ego? A challenge? Thirst for knowledge? The truth will shake out over the next few weeks as I begin to familiarize myself with the GMAT, online university programs, and the positive/negatives of the endeavor. (My sneaking suspicion is that the MATH will ultimately keep me away.)

Here are some questions that need to be answered before I move forward:

* What will I study and how will it help my career from University?
* Will an advanced university degree help me at my current job or is a company/career switch necessary?
* How will I pay for my degree? What's the ROI?
* Even though my job doesn't outwardly offer tuition reimbursement, is there a way I can convince them to foot the bill?
* Do I have the time to commit?
* Are there other alternatives that can satisfy my list of pros? Perhaps a certificate program?
* How important is the name of the university attended? What if they only have an online degree presence? (Stay away from diploma mills and understand the differences between nationally and regionally accredited universitys.)

Here's a quick hit of pros/cons on obtaining an online masters degree.

PROS:

* Expanded base of knowledge
* Resume enhancer
* Ego booster

CONS:

* Studying for test
* The expense
* Time required to choose a university

What's on your list of pros/cons? And what other questions do you think should be asked?

Gosh, it sure would be nice for an online school to approach me and have me blog about the entire experience in exchange for an education in university...

In the meantime, I'm making it a mission to uncover some answers before I move forward.

After holding down various media jobs, including stops at MTV Networks and Fox News, Andrew G.R. was completely discouraged—not only about his own career but about the lack of job resources that truly spoke to him.