This article discusses how graduates of Arts-Focused Schools are shown to rack up the most student debt. Schools that specialize in art, music, and design have an average debt of $21,576 when they graduate. A problem on top of that is that the majority of graduates have a salary of less than $40,000.
The government created a new way to guage the financial return on a college education by the "College Scorecard." The Scorecard enables families to see how much debt graduates will owe on loans, information on graduation rates, and other valuable information that was previously unknown to potential undergraduates. While these are all very informative to a potential student the Scorecard does not say how debt can add up and what it will take to repay it. The government does plan to add some additional features such as a comparison tool and salary information.
This topic was very informative to me as I am still paying off my undergraduate loans and will continue to be doing so for a few more years. School loans are the worst but I think very much worth it. Education is very important in today's age and without it one will have a very difficult time aquiring a job. School loans are pretty much a double edged sword. If one has school loans then most likely they will have a job. No school loans than no job. I am only talking about students who don't have school loans because they do not attend college. The "College Scorecard" is a great tool though. The price of a college's tuition plays an important deciding factor on where to attend so being able to see possible future loans would really help in the deciding factor.
Article Website
This is a really interesting article. I hope that having access to such a tool does not deter students from pursuing higher education but rather that it helps students to be smarter about their education choices. Maybe also to be in better control of their finances as they continue their education. Thanks for sharing!
ReplyDelete