Traditional Schools also offer a Master's Degree (also known as a Postgraduate Degree) requires 1 to 2 years of full-time equivalent preparation beyond the Bachelor's Degree.

A Doctorate Degree (also known as a PhD or Terminal Degree) is the highest level of academic degree possible, and the award implies recognition of the recipient as an equal by the faculty at the university in which the study took place. There are three types of Doctorate Degrees: Research, Terminal/Professional, and Honorary.

Research Doctorates are awarded in recognition of scholarly or academic research representing a unique contribution to human knowledge. Terminal/Professional Doctorates are awarded to those who are considered experts in a particular professional field, such as medicine, theology, or law. Honorary Doctorate Degrees are awarded to those who have made a substantial contribution to a field of study, not necessarily academic. All recipients of a Doctorate Degree are permitted to use the title "Doctor."

It is generally understood that possession of one or more college degrees can create more employment possibilities and vastly increase the earning power of the recipient. Some of the most popular fields of study include Business Administration, Liberal Studies, Engineering, Computer Science, Education, Communication, Humanities and Arts, Law, Social Sciences, Medicine, Psychology, and Biology. Some colleges and universities will even allow students to create their own special major.