The amount of college debt accrued by students is at an all time high. According to National Center for Education Statistics data, the class of 2014 had an average debt of $33,000. Such a high debt can be very difficult to pay back considering the cost of living today.
So the obvious question is “Is college still worth the cost?”. And the answer to this question is still “Yes.”
According to the infographic below by EducareLab, while a debt of $33,000 is very high, students graduating in the lowest paid college major of Early Childhood Education are paid an average of $30,300, so these such students could take 3-4 years to pay off their debt. On the other hand, students graduating in courses such as petroleum engineering are paid well over $100,000 – so it would be very easy to pay back the debt of $33,000. You can see the list of highest paid college majors below in the infographic:
This article was contributed by guest author Jay Rau.