Source: Dumb Little Man
Now more than ever, an educated public is essential for a country to remain relevant and competitive in the global marketplace.
In fall of 2016, 1.8 million students were enrolled in master’s, graduate certification or doctoral programs in the US, showing a steady growth in enrollment in the last decade.
Recently, however, that growth is starting to experience a decline.Graduate programs with the most applicants (Fall, 2016)
- Social and behavioral sciences
- Engineering
- Biological and agricultural sciences
- Physical and earth sciences
- Arts and humanities
Are the critics right?
Making the most of our education has always been a part of the American dream. Today, however, students are even questioning the viability of getting a college degree in general as tuition rises, student loan debt balloons, and jobs remain scarce and low-paying.
No longer do students feel optimistic about the job market and many have opted to stick with a Bachelor’s degree and enter the workforce as quickly as possible.
While our parents and grandparents love to remind us about how they worked summers and even weekends to put themselves through college, that financial landscape is no longer our reality. For many students, the cost of pursuing a graduate education remains hugely prohibitive.
In 2012, the master’s degree student debt average ranged from $50,000 for education and science degrees and as high as $160,000 for law and health sciences degrees.
Average student loan debt by profession
- Business: $42,000
- Science: $50,400
- Education: $50,880
- Arts: $58,540
- Law: $140,620
- Medicine/Health Sciences: $161,770
Some students don’t see the increased student loan debt as a big deal when their potential salary options nearly double after completing their graduate degree.
The wage premium for employees with a master’s degree over employees with a bachelor’s…The post The War On Grad School appeared first on FeedBox.