Is a college degree worth the debt?

This is a tough question to answer.
First let’s recognize the fact that some college degrees are absolutely useless or worthless white others are highly valuable.

The value of a college degree depends on many factors including but not limited to:

How much money will you really earn with the college degree you are considering pursuing?
How much student debt will you get into paying for your college education?

I have a friend whom is considering borrowing money to pay for her college education so she can be a mental health counselor. After helping her research different career paths and our talk on student loans, debt and maintaining good credit she is now considering pursuing a different degree now that she sees that the average mental health counselor in Philadelphia Pennsylvania makes anywhere from $30,000 a year to $36,000 a year salary which is insulting. For some reason she assumed that just having a 4 year college degree would make her all kinds of money. Unfortunately this is simply now how it works in the real world.

The average undergraduate leaves college with more than $30,000 in student debt then tack on another $35,000 + to finish graduate school. So she would go to school for 6 solid years just so he can earn a mere $30,000 salary not to mention getting herself into $65,000 + of debt from student loans.

According to a study done by the University of Pennsylvania in Philadelphia Pennsylvania , the absolute worst graduate degree to have is a degree in meteorology. Once you get yourself into student debt for a degree in meteorology you might be paying your student loans off until dooms day. After you earn a graduate degree in this field you will be lucky if your salary goes up 1% every year. A degree in studio art may sound fun and rewarding but again don’t expect to make a decent living and be honest with yourself and realize you will get yourself into a mountain of debt just so you can earn enough peanuts to pay off your never ending student loan while living like a pauper.

On the other hand there are many valuable college degrees that are worth the time and money involved in earning them.
Such degrees are petroleum engineering, oceanography, public relations, pharmaceutical science, healthcare administration, law and some social sciences. I am positive there are many other highly financially rewarding college degrees worth pursuing and it’s best to do your own research to help you determine if the college degree you are considering pursuing is worth the debt of a student loan.

A good rule of thumb to determine how much a specific college degree is really worth is to start with determining how much you can really expect to get paid your first year out of college and how long will it take you to pay off your school loan while living comfortably. College students should not borrow more than they really expect to earn their first year after graduating college. This means if your chosen career path is only going to pay you $30,000 a year then it is not a good idea to borrow more than $30,000 for your college education.

The best advice I can give is to choose your career path and education wisely so you don’t bury yourself in a mountain of debt and student loans. Speak to a career counselor and speak to real people in the industry you are considering getting into to help you determine if your chosen path is a good investment or a waste of your time and money.

 Are graduate degrees worth the cost?

Similar Posts
Ivy Crowell – owner of Relax Grill at Lake Eola....
212 210 0001 is a scam. Calls made from 212...
212 210 0000 is a scam. Calls made from 212...
929 900 2934 is a scam. How the scam works...
888 364 9689 is a scam that takes advantage of...
Those “a-ha!” moments. Key takeaways. Life lessons. Whatever you may...
Student loan repayment scams and how to avoid getting ripped...
Are you a business considering hiring a collection agency to...
Dynamic Recovery Solutions is a collection agency that has been...
877 858 4392 Dynamic Recovery Solutions is a collection agency...