It is one type of a doctorate (abbreviated PhD) degree from which many fields of study fall under. The doctorate itself is typically the highest level of educational attainment.
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The doctorate would take approximately four years post bachelor's to complete. The degree can run up to 60 credits in coursework particular to a specific field of study. The actual length of time...
A person who succeeds in earning a Masters level in their educational field becomes a "Doctor of (that field of study)". So the student may earn a Doctor of Philosophy, Doctor of Psychology etc....