All posts by CollegeFinancialLady

Earnings and Debt by Major

Last month, the Department of Education announced the release of earnings and debt levels by major and school. This is a fantastic level of transparency when a career path is already in mind. The data is available on College Scorecard.

For example, a student looking at Seattle University would see that the average annual cost is $35,006, with graduates’ starting salaries ranging from $22,000-$84,000 and median debt between $19,000-$27,650. Those are huge ranges, so not particularly helpful– owing $25,000 is not a problem if you’re making $80,000, but it probably is if you’re making $20,000. If you’re a nursing student, on the other hand, the numbers are considerably better:

SU RN

Where do you find this data? Go to College Scorecard, then search for a school, then expand the Fields of Study link.

2020 Rhodes Scholars

What do Harvard, Yale, MIT, Princeton, University of Connecticut, University of Oklahoma, Ohio State, Washington & Lee, Notre Dame and Michigan State have in common? Each had a student selected as one of this year’s Rhodes Scholars. The Rhodes Scholarship is arguably the most prestigious and competitive scholarship available to American students, and the size and diversity of the applicant pool– over 2,900 students endorsed by 298 different colleges and universities– speaks to the academic and leadership excellence of the 32 selected students.

It’s also testimony to the fact that you do not need to attend an expensive or reach school to compete at this level: 1/4 of these scholars attend public universities that admit more than 50% of applicants, according to College Navigator.

Do Americans Pay More for College?

Most people would assume that we have the most expensive higher education system in the world. And it’s true that the world’s most expensive universities are all in the US. However, that doesn’t mean that the US is the most expensive country in which to get a college education. According to the OECD’s Education at a Glance 2019 report, that “honor” belongs to the UK. Here is their chart showing public university costs by country: Continue reading Do Americans Pay More for College?

Why Saving Early for College is So Important

A recent Sallie Mae study shows that on average, parents begin saving for college when their child is 7 years old. This makes sense: it’s right around when a child transitions from preschool or full-time daycare to full-time school, so for many families it’s the first time that they have any financial breathing room. Continue reading Why Saving Early for College is So Important

Haven’t Done the FAFSA Yet? Here’s Why You Should

Many families think there’s no point in doing the FAFSA because they assume they don’t have financial need. That reflects a fairly limited view of the FAFSA; in fact, there are plenty of good reasons why every family of a student who’s even potentially college-bound next year, regardless of the family’s financial position, should do it. Continue reading Haven’t Done the FAFSA Yet? Here’s Why You Should