One other thing to consider is that a person can get their course work done for the masters, but not finalize the paperwork and delay the actual granting of the degree until they are securely employed/reach tenure, etc . If you are unemployed, you have more time on your hands to do the work, but not the income to pay for it unfortunately without loans. The programs I have seen give you seven years to finish the degree from the time you start it.
I teach and had a bachelors, masters and doctorate when I was hired for my first job three years ago. I also had a ton of experience in the real world which made my resume stand out I guess. I was hired at one of the best schools in Minnesota (ratings-wise and test scrores-wise). I was recently told by the man who hired me that they wanted me due to my experience, but if I was looking for work these days as an inexperienced teacher with heavy education, I would have a hard time being hired due to the extra $ demand my degrees bring with. Very glad I got in when I did.
