What College Majors Have the Best Return on Investment?
Sep 06, 2023 10:45
Discover Which College Degrees Have the Best Return on Investment!
As many people know, college can be an expensive investment. According to Education Data, the average cost for a student living on campus at a public 4-year institution is $26,027 annually. However, if you opt for a private college, you would have to pay $55,840 each year throughout your time in school! That’s a lot of money to cover for four years! Even if you decide to get a student loan, you would still have to pay for the loan alongside the interest that comes with it.
Despite the alarming tuition costs, a college major could still be a great way to boost your earning potential. As of 2022, an average full-time worker with a bachelor's degree can earn up to $52,000 annually. A worker with a high school diploma may only have an average median salary of $30,000. Additionally, most college degree programs can help students recoup the cost of their education in less than ten years. But, it’s worth mentioning that some majors have a better return than others. So, it’s understandable if you ask yourself, “What college majors have the best return on investment?”
Typically, science, technology, engineering, and mathematics degrees are the fields with the highest return on investment. However, according to Broke Scholar, here are the top ten college major programs with the best ROI in the country:
1.Computer Science at Carnegie Mellon University
2.Computer and Information Sciences at the University of Pennsylvania
3.Computer Engineering at the University of Washington-Bothell Campus
4.Computer Engineering at the University of Washington-Seattle Campus
5.Computer Science at the University of California-Berkeley
6.Electrical Engineering and Computer Science at the University of California-Berkeley
7.Computer Science at Duke University
8.Registered Nursing at California State University-Sacramento
9.Electrical and Computer Engineering at Duke University
10.Computer and Information Sciences at the University of California-Los Angeles
There are a lot of computer-related fields, huh? If you’re a fan of these degrees, you may be delighted to see the potential in all those fields. However, if you were steering in another direction, you may be apprehensive about pursuing that path. But don’t worry! While these are the top college majors with the best return on investment, other degrees can still give you good earning potential! Keep reading to learn more about what these alternative majors are.
What Other College Majors Have the Best Return on Investment?
While science, technology, and engineering degrees have the best return on investment, there are other majors you may not have considered. Take a look at some of the best alternative majors to earn a good profit right now:
6.Accounting (Different Fields in Accounting, Like Sports, Management, and Forensics)
7.Biology (Zoology, Geneticists, Marine Biology)
8.Communication Studies (Marketing Director, Public Relations, Content Creator)
Some of these majors might not earn as much as an engineering or technology degree. But, some of these college degrees could still allow you to make good money while doing something you like. If you’re a fan of the arts, you may have difficulty getting some return on your investment. Yet, that doesn’t mean those fields don’t add value in other areas, like creative and societal fulfillment. You just have to know that those specific degrees may not yield a good enough return.
Now that you know what college majors have the best return on investment, it’s time to decide which degree works for you. The only problem is that if you’re not keen on the degrees mentioned in the previous section, you may be less enthusiastic about going to college. But don’t let those majors turn you away from studying in school! What’s more important here is finding a bachelor’s degree that fits what you want for the rest of your life. Although some degree programs may not have the best earning potential, what’s essential is that you’re content with your chosen major.
Conclusion — Find a Loan to Cover the Cost of School
While some college majors have a better ROI than others, finding a degree that fits your preferences is still important. But what if you need help covering your tuition? If student loans don’t sound like a good option, you can consider looking into title loans. You would only have to use your car title as collateral to secure the funds you need for school! Call a title loan lender or provider today to learn more about this funding option.
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