The Chronicle of Higher Education last year produced a highly informative chart showing the economic value, in terms of median annual salary, of a bachelor's degree by major and subject area. The chart covers median wages for more than 100 occupations spanning 15 majors and is a useful tool for anyone weighing how much student loan debt to accumulate.
It also raises a couple of interesting questions. Why do colleges charge the same general tuition rates for a petroleum engineer major, who can expect to earn an annual median salary of $120K, as a counseling-psychology major, whose annual median salary is only $29K? Shouldn't tuition rates be more directly correlated to a student's return on investment, i.e., cost aligned to benefit of degrees?
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