Sunday, September 2, 2007

College worth the debt

I found an interesting article on Yahoo Finance "Is College Worth the Cost." There were some interesting tidbits in the article. Like only 28 percent of jobs in this country require a 4 year college degree. And of the top 10 fastest growing occupations only one requires a 4 year college degree. Of course associate's degrees are what is required by most of them. And I liked the advice of not paying top dollar for a private school that no one has heard of. I think that people get confused though when a local private college is well know in their area. Sometimes people think that it is well known everywhere but really it's just in the local area.

And this was a paragraph I think they should show all high school students about how much to limit their borrowing based on their major:
The highest-earning BAs are engineering and computer science students, who pulled down starting salaries of around $50,000 in 2006. According to my calculations, applying the affordability benchmarks used by the PIRGs in their study, these lucky ones can afford to borrow up to $45,000 a year in federal student loans. Liberal arts grads, by contrast, earn just over $30,000 in the first year out of school. If that's your bent, it would be prudent to borrow no more than $16,000.

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