“Today, the Department of Education announced steps that will bring borrowers closer to public service loan and income-driven repayment (IDR) forgiveness by addressing historical failures in the administration of the federal student loan programs. Federal Student Aid (FSA) estimates that these changes will result in immediate debt cancellation for at least 40,000 borrowers under the Public Service Loan Forgiveness (PSLF) Program. Several thousand borrowers with older loans will also receive forgiveness through IDR. More than 3.6 million borrowers will also receive at least three years of additional credit toward IDR forgiveness.”
How much money can you expect to earn after you complete the coursework for your major and graduate college? Do you really know what your earning potential will be?
According to “Labor Market Expectations and Major Choice for Low-Income, First-Generation College Students: Evidence from an Information Experiment,” a study conducted in 2017 by Alexander I. Ruder (University of South Carolina and Rutgers) and Michelle Van Noy (Rutgers), many students, especially those who come from lower income backgrounds, are overly optimistic about how much they will earn. Ruder and Van Noy polled 2,965 students and determined that students who grew up in financially disadvantaged circumstances were especially prone to overestimate the potential earnings that their major and college degree would enable them to earn. Read more
This list from U.S. News provides some insights
What STEM jobs offer the highest pay and the best chances of long-term employment?
“Explore Top Stem Careers,” an article that Susannah Snider and Rebecca Koenig published in U.S. News and World Report on April 22, 2019, offers some suggestions and provides food for thought. In compiling their list of careers, the authors accessed U.S. News’s own best jobs rankings and added data about projected job growth from the Bureau of Labor Statistics. Read more
There are many definitions of success, and that is a good thing. And today, more people are defining success in their own ways.
But for the purposes of this post, let’s define success in a once-common way, even though a growing number of people might no longer see it as valid . . . Read more
There are economic times when students can afford to start college, take two years to explore different majors before selecting one, and then stay in school for a few more years before they graduate and start looking for their first jobs.
But in recessionary economies like the one we may be entering soon, more students want to get their studies done and enter the working world as quickly as possible. Many of them want to spend just a year or two at a community college. Others attend trade schools and jump quickly into the workforce. Read more
Do you know any educators who are advising future college students to focus on engineering and technical fields, and to stay away from the arts and the humanities? Read more
PayScale’s Salary Report Shows Earning Potential for Engineering Careers
When you start to look at Best Schools for Engineering Majors by Salary Potential, a report from PayScale, the first thing you are apt to think is, “Boy, an awful lot of American colleges and universities offer engineering degrees today.” And a lot of them do. The PayScale report, in fact, offers salary data for graduates of no fewer than 409 American institutions that offer undergraduate engineering degrees. Read more
Associate’s degrees could represent one of the most significant educational bargains today. Some students are saving money by earning these degrees at community colleges, then transferring to state schools and private universities. The result is a big reduction in educational costs. Still other students are earning associate’s degrees, then going on to matriculate in colleges after they have worked for a few years and saved enough money to pay for tuition and other costs. And then there are students who simply earn associate’s degrees, start working, and never feel the need to return to college. Read more
When college students decide to major in English language and literature, common wisdom holds that their parents are unlikely to react less than positively. Some of the most stereotypical responses students can expect, according to common lore, can be expected to be . . .
- “I’m paying all that college tuition so you can major in English?”
- “What kind of job are you going to get as an English major?”
- “Couldn’t you think of a major that stands a better chance of getting you a high-paying job?”