Money has now replaced Passion. New graduates are now looking for courses that will earn them a well-paying job and help them repay their loans, rather than what interests them.
Bankrate.com, a consumer financial Services Company has created a report that reveals some of the best courses that will help students repay their loans faster. They have assumed an average interest payment of 6 percent.
The company has taken the tuition data from the National Center for Education Statistics and job data from the Bureau of Labor Statistics.
Here is the list of top courses that has the best value in the market:
Students enrolled at Advertising/Marketing courses will secure a job with a median salary of $107,950. Going by this rate, scholars can repay their student loans in less than six years.
Most of the Economist jobs only require a bachelor's degree that costs about $52,000 on average. Students graduating with economist-related degree will be paid nearly $92,000 and they are estimated to pay off their loans in a little more than 7 years on average.
Students graduating from courses related to Civil Engineering can roughly earn about $80,000 per year on average. Based on this estimated salary, the students will be able to pay back their loans in 8.5 years.
Political Science students take six years to complete their education. They are expected to earn about $102,000 on average and might take similar time as civil engineers to settle their loans.
Here is the list featuring the next best professions:
Occupation | Minimum required years in college, graduate school and professional programs | Cost of degree (tuition, fees, room, board) | Median pay | Annual repayment (if 10 percent of salary goes to repaying school loans) | Years needed to repay education investment (assuming 6 percent student loan interest) |
5. Pharmacist | 7 | $92,421 | $116,670 | $11,667 | 10.83 |
6. Microbiologist | 4 | $52,596 | $66,260 | $6,626 | 10.83 |
7. Physician: family or general practicioner | 8 | $136,861 | $172,020 | $17,202 | 10.92 |
8. Accountant | 4 | $52,596 | $63,550 | $6,355 | 11.50 |
9. Market research analyst | 4 | $52,596 | $60,300 | $6,030 | 12.42 |
10. Lawyer | 7 | $103,677 | $113,530 | $11,353 | 13.33 |