General Discussion
In reply to the discussion: About college majors. A lot of people blame students for choosing impractical majors [View all]FreeJoe
(1,039 posts)There are a lot of great things about being a liberal arts major. On the other hand, there are a lot of bad things about graduating with a huge debt and poor job prospects. Every university should review with every student basic financial facts before the student commits to enrolling. The prospective student should understand what the full cost of getting a degree is going to be and how much debt they are likely to accumulate getting it. They should know what the job prospects are for the majors they are interested in. They should understand what the pay is like (both median and range) for people with those degrees. Finally, the school should help them synthesize that so that they understand what their cashflow situation is likely to be after graduating.
I cringe every time I read a story about someone going deep into debt while majoring in a field with little economic return. It's great that people major in the humanities, but doing so while going deep into debt is not a great financial move. We shouldn't assume that 18 year olds understand multi-year financial planning.