As thousands of recent graduates throw in their hats this month, more than 40% of master’s degrees are not financially worth earning, according to new analysis by the Foundation for Equal Opportunity Research.
Analyzing professional earnings at graduation and a decade later, taking into account factors such as school dropout rates, the study concluded that bachelor’s degrees are much more likely to be financially worthwhile for students than postgraduate degrees. graduation.
More than three-quarters, 77 percent, of four-year bachelor’s degrees have a positive return on investment, the study found, compared to just 57 percent of master’s degrees.
The subject of study had a significant influence on financial return, with the best undergraduate courses being engineering, computer science and nursing, while fine arts, education and biology programs had the lowest average return.
The average return on investment for a bachelor’s degree is about $160,000, the study found, but degrees in especially lucrative fields can reach $500,000 or more.
For postgraduate studies, law, medicine and dentistry were the most profitable, according to the analysis.
“While ROI should not be the only consideration for students approaching their college decision, the ROI estimates presented in this report can help students and their families make better choices regarding higher education,” the author wrote. Preston Cooper.
The study comes as scrutiny increases over the cost of higher education. Undergraduate tuition can reach $95,000 at some universities, while millions of Americans face hundreds of thousands of dollars in student debt.
Debt cancellation has been a focus of the Biden administration, addressing a symptom of rising costs while boosting support ahead of the November elections.
This story originally appeared on thehill.com read the full story
