Students typically have a vast variety of subjects which they can study at many colleges and universities across the country. Although some technical schools focus on teaching science courses, and small liberal arts colleges have a limited range of majors, many universities afford students numerous options with respect to academic pursuits. It is important for students to consider the best college majors for student debt, since some majors may help graduates earn more money and have an easier time paying off their student loans.
Pre-Law
Although pre-law is usually not a major at many schools, studying a topic related to the law can be one of the best college majors for student debt. Law schools typically do not care too much about what you studied as an undergraduate, and simply look at your GPA in college. As a result, if you would like to attend law school, it is important to pick a major that will allow you to score good grades.
However, sometimes majoring in legal studies or a related field can help you in law school. In addition, if you can get published in a given field, it might help you stand out when applying to law schools, and you should pick a major that may enable you to be published. Being accepted to a top law school and earning good grades in law school can help you secure a solid job that can make it easier to pay off your student loans, so decisions about your major are important when considering law school.
Pre-Med
Pre-med can be one of the best majors for student debt, since physicians usually have a high earning capacity and career options that enable them to pay off student loans quickly. My brother (who is a guest writer on this website) has already discussed some tips for pre-med majors, and of course, pre-med is typically not a designated major at many universities but a course of study. People hoping to enroll in medical school usually need to take courses in biology, chemistry, and other fields in order to be qualified to earn an MD.
However, medical schools look at both an applicant’s science GPA and an applicant’s overall GPA when evaluating applications. As a result, students hoping to enroll in medical school should also take courses in which they can score high marks. Indeed, my brother who is now a physician, majored in Anthropology as an undergraduate, and it may make sense not to major in a science field while pursuing a pre-med program as an undergraduate.
Business
Another one of the best majors for student debt is business, or if your university does not have a business program, economics, finance, or a related field. People with a business background are often desirable in a number of lucrative roles, including financial services companies, corporations of all types, and other businesses. In addition, should you wish to start your own business (which I highly recommend), then a business degree can provide you with valuable information that can help you be successful at self employment.
A business degree may be less important if you seek to obtain an MBA or another graduate degree in a business field. Although a business major may make you a better candidate for graduate programs, it is not dispositive to determining if you will be accepted to a program or not. As a result, if you know you will end up pursuing a graduate degree in business or a related field, and wish to study something else as an undergraduate, you may wish to do so in order to have a broader academic background.
Engineering
Another one of the best majors for student debt is engineering. When many people think of engineers, they likely imagine people in hard hats at a construction site looking over blueprints. In actuality, engineers work in a variety of different contexts, including the pharmaceutical industry, transportation infrastructure, and other fields. Engineering is a very malleable degree, and can be your ticket to work at a variety of exciting companies. Take a look at the job openings at some of the most interesting companies to work at and you will likely see a number of roles that require an engineering background.
Engineering is one of the best majors for student debt, since engineers are often paid high salaries. This can help them pay off student loans quicker than individuals who work in other roles. Furthermore, engineers who work in the public sector may be eligible for public service loan forgiveness, which can help borrowers pay off their debt.
Industry-Specific Fields
It should also be mentioned that industry-specific fields are also some of the best majors for student debt. For instance, one of my brothers majored in hotel and restaurant management, and has worked in the restaurant industry for over a decade. This background provided useful information to him, and might have helped him advance within his industry. If you know you want to enter a specific industry, and you attend a university that has a more practical major that is centered on that industry, you might want to enroll in such a major.
In the end, the best college majors for student debt are usually the ones that confer useful information and allow you to advance in your career and earn more money. And if you major in certain fields, you should have the best chance possible at securing a role that can help you pay off student loans.