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Is Your Bachelors Degree Worth It?

IS YOUR BACHELORS DEGREE WORTH IT?
In the 70’s, nearly any college degree guaranteed a well-paying job. Now that a majority of Americans enter college. the choice of degree may mean the difference between a successful career and bankruptcy. Families are increasingly relying on debt to finance education, and with rising tuition costs, that simply doesn’t always pay off. An intense belief in the value of college may be hurting us more than it helps, particularly among the low-paying degrees.

You’re Unique, Just Like Everyone Else
With each passing decade, Americans have completed more years of schooling

1970 28% 51% 21%
1980 17% 32% 32%
1990 11% 50% 39%
2000 7% 42% 51%
2010 5% 39% 56%
% of population that completed some or all of: Elementary High School College

Are For-Profit Schools Only In It For Your Money?
Graduates of for-profit schools have the most debt and highest loan default rates

For Profit 10.5% 53%
Private 5.5% 24%
Public 7.6% 12%

Growth In the number of bachelor’s degrees issued by school type from 1999 to 2009.

21%
Public

29%
Private

418%
For-Profit

Tuition Costs are Rising Faster than Pay
The median pay for full-time employees fer age 24 with bachelors degrees is riot keeping pace with the cost of the degrees themselves.

High Debt is Dangerous
For the first time ever, student debt exceeds credit card debt as families struggle to afford tuition.
$30K
+72% Private Tuition + Fees
$20K
+35% Public Tuition + Fees
$6K +26%
$0 Median Pay (Monthly)
2000-01 06-08 10-11



$10008
$8008 $926 Billion
$6008
$4008
$2008
$0
1996 2000 2003 2008 2010

Total federal + Private student Debt
Revolving credit


Starting Pay by Degree Low-Income degrees may no longer pay off, leaving
graduates to struggle with their debts

$109,000

Approximate total tuition -------------$l00K
for 4-year undergraduate
education at average
private school


$93,000
Petroleum Engineering
---------------------------------------$90K
---------------------------------------$80K

---------------------------------------$70K
Chemical Engineer
---------------------------------------$60K
Computer Science
Biomedical Engineering
---------------------------------------$50K
Mathematics

$44,500
10% of bachelor’s degree recipients had at least this much debt in 2008

---------------------------------------$40K
Business

$33,430 - Average student borrower predicted to graduate with this much debt in 2011

$30,400 - Approximate total tuition for 4-year underg raduate education at public school

-----------------------------------------$30K
Political Science
Health Sciences
Architecture
-----------------------------------------$20K
Fine Arts
Education
Social Work
------------------------------------------$10K

--------------------------------------------$0K

66.5% of students now graduating with student or parent loans (2011 estimate)

Is Your Bachelors Degree Worth It?

shared by visually on Jul 16, 2011 in Education

Is Your Bachelors Degree Worth It?

shared by visually on Jul 16, 2011 in Education

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In the 70’s, nearly any college degree guaranteed a well-paying job. Now that a majority of Americans enter college, the choice of degree may mean the difference between a successful career and bank...
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