Wednesday, November 22, 2017

Paying off Student Loans

Sallie Mae has farmed out their student loan collection problems to collection agencies who are filing lawsuits. College Graduates with low-paying jobs are not able to pay off these loans. Those entering college should have two concerns. One is limiting their expense and the other is being scammed into paying a fortune for political indoctrination that won’t get them a good –paying job.  I wondered how many students were graduating with degrees that would allow them to get jobs that paid enough to pay off these loans. I found a table with numbers of graduates by degree from 1970 to 2015.

Most Popular College Degrees

There were 1.9 million college graduates in 2015, roughly double the number in 1970.

The most popular degrees in 2015 included “Business” with about 370,000 graduates and “Health Professions” next with about 216,000 graduates. Engineering got about 98.000 graduates.

Social Science and History got 167,000
Psychology got 117,000
Biology got 109,000
Ethnic Studies got 104,000

All other Majors got less than 100,000
Education got 91,000
Computer Science got 60,000

High earnings and the ability to repay student loans. We have 44 million student loan borrowers with loans totaling $1.3 Trillion.

We expect those who graduated in 2015 with Business, Health Professions and Engineering Degrees will be able to repay these student loans, but the jury is out on the rest. It may be that although about 900,000 of these graduates might have good earning potential the other 1 million might not.



Norb Leahy, Dunwoody GA Tea Party Leader

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