Graduate school is expensive. There's no getting around that. So you want to make sure the degree you pick will let you earn enough to pay off the money you had to borrow to get it. We did this math for 98 popular advanced degrees, looking at typical mid-career salaries and student loan debts for degree holders, as well as which fields are projected to gain jobs the fastest.
Here are three courses of study that offer grad school alumni the quickest payoffs and most promising careers.
The numbers still line up for accountants, who work in a field that values degrees highly. Even inexperienced accountants with doctorates in accounting make a median of $93,000 a year. If you don't go as far as grad school, consider professional certifications to boost your job prospects. The granddaddy of them all is Certified Public Accountant, for which you'll need to pass the national CPA exam and meet other requirements, depending on your state.
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Computers may enrich all of our futures, but those who can learn to truly master them will do even better. College grads who major in computer science can expect to earn a median $100,000 a year just a few years into their careers. But PhD holders can expect to earn annual paychecks that are six figures long from the very start. Opportunities for computer-related occupations overall are expected to grow almost 18% by two-thousand twenty two.
It probably won't come as a huge surprise that a job in finance proves to be the quickest way to pay off your MBA, and continue to amass the big bucks. MBA holders in finance also enjoy a low unemployment rate and good future prospects, particularly among those who take up jobs as personal financial advisers.
Take a look at all 10 advanced degrees that are worth the debt, plus check out the 10 best undergraduate majors for a lucrative career.
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How Intrafamily Loans Can Bridge the Education Funding GapTo avoid triggering federal gift taxes, a family member can lend a student money for education at IRS-set interest rates. Here's what to keep in mind.
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How an Irrevocable Trust Could Pay for EducationAn education trust can be set up for one person or multiple people, and the trust maker decides how the money should be used and at what age.
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UTMA: A Flexible Alternative for Education Expenses and MoreThis custodial account can be used to pay for anything once the beneficiary is considered an adult in their state. There are some considerations, though.
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Coverdell Education Savings Accounts: A Deep DiveWhile there are some limitations on income and contributions, as well as other restrictions, a Coverdell can be a bit more flexible than a 529 plan.
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529 Plans: A Powerful Way to Tackle Rising Education CostsContributions to 529 plans grow tax-free and are not taxed when they are used to pay for qualified educational expenses for the beneficiary.
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Are Student Loans Being Forgiven or Not?Student Loans The House and Senate voted to repeal President Biden’s student loan forgiveness plan, but does it even matter?
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Are Scholarships Always Tax-Free? What You Need to KnowEducation Scholarships are generally tax-free if certain IRS and other requirements are met.
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Student Loan Forgiveness Blocked For Now Due to Court RulingsBiden's student loan debt forgiveness program is on hold until the U.S. Supreme Court weighs in.
