With rising tuitions in most colleges
across the globe, many students are now wondering whether to pursue a college
degree. Moreover, numerous students are taking heavy loans to pay for their
degrees and are ending up with crippling student debts. I believe it is of
utmost importance that you pursue the right major that will enable you to pay
off your debts the fastest.
Here I am going to talk about which majors
you should pursue and how you can earn degree by avoiding debts. Keep reading….
Woes
Of Student Debts
The truth is student debt can not only
affect you earning, but it can also leave a lasting impact on your savings, career
and overall life. Studies have found that various college graduates end up
paying their student loans till their retirement. So it does not matter if you
are a fresh graduate and if you have your entire career to pay your debts,
unless you choose the right majors and take the necessary steps, your lifestyle,
homeownership and retirement will get significantly affected by debt. You
surely don’t want to retire with almost zero savings.
How Majors
Impact Earnings
Hence it is imperative that you graduate
with a degree which helps you in paying back your loans within a stipulated
period. A new study by the Brookings Institution's Hamilton Project found out a
unique pattern related to different degrees and earnings of graduates. The
research found that graduates with college degrees in lowest-income specialties
experience fastest growth in their earnings after school. It was also observed
that graduates with degrees in the highest- income majors saw comparatively
slower growth as they started their careers with a high salary.
The analysis found that lower-income majors,
such as sports and sports, have the maximum percentage increase in income
growth within the first 5 years of starting their careers. On the other hand, majors
that are traditionally considered high-earning, like engineering, experience a
much slower increase. Why is this important? Irrespective of what a graduate
earns after 20 years in their careers, student debts are generally paid off
within the first 10 years after college, even for the minimum income groups.
Thus, I believe that you should pursue a
degree which allows you to complete your graduation in your desired field with
no or the least amount of debt. The fact is the more you earn, the more your
save and the sooner you will pay off your student debts.
So How
Can You Earn A Debt-Free Degree?
If you want to pursue a qualification that
enables you to avoid debt, then I would suggest you study a top up degree online. The truth is
numerous students are now going for online degrees as it enables them to
acquire an accredited qualification without emptying their banks.
Online top up programmes are especially designed to enable level 5 graduates to pursue higher education qualifications. By pursuing an online BA top up or BSc top up, you will not only be able to avoid crippling debts, but you can also earn your degree much quicker. These programmes help you to fast track your current qualification to a recognised degree. Hence you can easily jump to an advanced degree programme from your undergraduate diploma. Moreover, studying top up programmes demonstrates that you are proactive and have the necessary management and academic skills which is always preferred by employers.
One of the best things about completing
your online top up degree is that it allows you to study whatever major you
want without worrying about how much you will earn from it. As you don’t need
to worry about paying student loans, you can confidently choose your dream
career.
Do you want to avoid student debt? Wish to pursue your preferred majors? Planning to study top up programmes? Share your thoughts and opinions with us. Feel free to comment below. We would love to hear from you.
