“Changing your major makes you nearly twice as likely end up owing more than $100,000. Kantrowitz found that 40.8 percent of undergraduate students who finish school with six-figure student loan debt changed majors. He also found that undergraduates majoring in “theology, architecture and history are much more likely to end up with six-figure student loan debt than students majoring in other fields of study.” Computer science, mathematics, and health care majors are the least likely to graduate owing that amount, although it’s not clear from the report why that’s the case. What really increases your odds of racking up eye-popping debt is attending graduate school or deciding to pursue a professional degree. Overall, 6.4 percent of grad students end up owing big bucks. Nearly 10 percent of new Ph.D.s owe that much or more. The hardest hit are law school graduates—36.2 percent owe over $100,000—and the 49 percent of medical school graduates who owe over that amount.”

Is Six-Figure Student Loan Debt the Norm? - Education - GOOD

Notes

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