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ERIC Number: ED542016
Record Type: Non-Journal
Publication Date: 2012-Aug
Pages: 4
Abstractor: ERIC
Reference Count: 6
Balancing Passion and Practicality: The Role of Debt and Major on Students' Financial Outcomes. Research Report
TG (Texas Guaranteed Student Loan Corporation)
As the importance of a college degree climbs and federal and state grant funding remains inadequate, millions of students in the U.S. continue to take out student loans each year to help pay for their rising education costs. In October 2011, the total amount of outstanding student loan debt in the U.S. exceeded $1 trillion (Chopra, 2012), resulting in Americans owing more on student loans than they do on credit cards. This translates to 37 million U.S. borrowers and counting. Although a college education typically provides long-term financial benefits, in the short term, the student loans used to finance the degree may burden the borrower. Considering the potential costs and benefits of a college degree, are there certain undergraduate majors that are more likely to lead to occupations that yield sufficient income to repay student loans? With a focus on Texas where data allow, this brief highlights the relationships between undergraduate major, student debt level, and post-graduation earnings. [For the full report, "Balancing Passion and Practicality: The Role of Debt and Major on Students' Financial Outcomes. A Report to the 83rd Regular Session of the Texas Legislature, see ED542013.]
TG (Texas Guaranteed Student Loan Corporation). PO Box 83100, Round Rock, TX 78683. Tel: 800-252-9743; Tel: 512-219-5700; Web site:
Publication Type: Reports - Descriptive
Education Level: High Schools; Higher Education; Postsecondary Education; Two Year Colleges
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Texas Guaranteed Student Loan Corporation
Identifiers - Location: Texas