With so much money on the line, think twice before committing to the crippling debt from graduate school.

Interest rates for graduate student loans are 5.41 percent compared to 3.86 percent for undergraduates, according to the National Association of Graduate-Professional Students. Graduate and professional students no longer have access to subsidized loans, and parents can’t take out a Direct PLUS Loan for adult children who no longer are dependents.

Unlike for undergraduates, debt from higher degrees often isn’t talked about, said Dionisia Quiroga, vice president of external affairs for the Council of Graduate Students. Some graduate and professional students don’t realize how expensive a second degree costs until after graduation.

During a time when undergraduate degrees are the new high school diplomas, earning a graduate degree makes sense for students in certain career fields.

A higher degree can make the difference between a job that pays the rent and a job that will land an extra several thousand a year. It could mean the difference between a job and no job at all. But with little federal aid to help students deal with the cost of a master’s, doctoral or professional degree’s worth of loans, it should be a thought-out, educated decision.

First, consider how long it will take to get debt free, and whether or not a master’s actually will land a higher-earning salary.

Going back to school for a master’s in philosophy “just for fun” sounds like a great option for students whose parents own oil mines, but for the rest of us that would mean years of financial strain and a prolonged diet of Ramen noodles for little in return. Let’s face it; there only are so many years we can scrape by on macaroni and cheese.

For students who find out four years later that they picked the wrong career field, a master’s degree could be worth it. For the freshmen, sophomores or even upperclassmen who’ve already arrived at that conclusion: seriously consider switching majors before it’s too late. An extra year at MSU is far less expensive than the average master’s program.

Avoiding entering the competitive workforce by getting a second degree isn’t the best idea, either. Fifty grand and a year later, and the economy likely will be about the same. Going back to school only will prolong the inevitable and will mean starting out with even more debt. Consider making the leap after securing a steady job.

It’s not that all graduate degrees aren’t worth it; some are.

But don’t dismiss the financial burden it will bring. Talk with family, career counselors and financial aid officers who can help put the costs into perspective.

We all want to live comfortably and snag our dream job after college, but consider the consequences before taking the plunge.