To go back to school or not

[Hedge_87]

So I have been really kicking around going back to school. I am just worried the juice may not be worth the squeeze. I am looking into ASU because they have a 100% online electrical engineering degree. Being as I have a full time job a wife and two kids this is a must for me. The reason I am looking into this for starters:
 it should help advance my career (I currently have 10 years experience in the electric power and distribution industry) and possibly open up doors.
In the unfortunate event I lose my job I believe it couldn't hurt on a resume.
I should be able to get my employer to pick up the tab (we have a program for continuing education).
It sounds very interesting and right up my alley (this is what I would have done right out of high school if I had more confidence in myself.)

now the cons:

I am very busy with a wife, kids, job, and life in general.
Will it be worth my time financially or should I just keep plugging away at my 100k a year job I have now.
thats about all I can think of right now but I do have reservations.

[Platypuses]

Yes you should do it, especially if your current employer picks up the tab. I went back to school in my mid 20's to get my chemical engineering degree, and had two kids while I was in school. It won't be easy, but it will definitely open more doors for you. Do they have a slow path to a degree?

[Sibley]

Before you decide, make sure you discuss with your wife. If you're devoting a bunch of time to school, that's time you're NOT spending on house work, child care, or with your wife. You need to be on the same page.

Also, check on the fine print of what your employer may pay.

[MsSindy]

I would do more research.  You need to determine what the payback would actually be.  If you get an EE, would your experience combine with that degree get you something more than entry level?  Don't assume, go ask employers.... "possibly" is not good enough.  "should be...." and "sounds interesting....".   I think you are in the honeymoon stage right now, go and do some hard research and really know what you'd be getting into - how many hours with class and studying/homework?  Are you super motivated to do this?  You will be giving up family time, date nights with wife, time with kids, chores, etc.?  Is your wife on board.... I mean REALLY on board.

[MrThatsDifferent]

How could it not be worth it financially if your employer pays for it?

As for your family, sure, it will take some time, so find the time, it’ll be there to be found and your family will understand because it will help you be and stay competitive.

Never underestimate how much you will learn that you currently don’t know from more education and what that could do for you.

[Hedge_87]

Thank you all for the suggestions.

I have discussed this with my wife. she is on board. I wanted to do this years ago before we had kids. However she was going to school for her masters and I still had some certifications to get that took quite a bit of studying. Fast forward 5 years (moved twice, had a kid, etc) here we are.

Talking with HR they will pay up to $500 a credit hour. I have to get a C or better or that class is on me to pay for. I am reimbursed after each semester. I need to stay with them for two years or I have to pay back a prorated amount.

I will do more research. I am just looking at trends in the industry. If you actually take a look at our electric grid its still pretty primitive in places at least. I want to be on the cutting edge of implementing some of the new tech that will help make our grid better.

Also if I stay with my current employer, having a degree come promotion time should be a positive right.

[ejmyrow]

The other benefit of you going back to school is that it sets a good example for your kids and brings in the vibe of education and learning at home. For example, when parents read, kids read.  It’s good for everyone to be growing.