A college degree can open up the path to a better life. In many cases that little piece of paper unlocks better jobs, higher earning potential, and a better life.
Not all four-year degrees are created equally. There are majors where graduates earn more money and most certainly ones where people earn less. Anyone deciding what to study — and how much you are willing to borrow in order to earn your diploma — should at least consider that earning power varies greatly based on what you study.
That’s very important to consider when a moderate college budget (including tuition, fees, room, and board) had an average cost of $24,610 at a moderate public college in the 2016-17 school year, according to the College Board. A moderate private school costs roughly twice as much at $49,320, numbers that are both high enough to make students (and their parents) at least consider whether the eventual graduates course of study makes economic sense.