Uncategorized
From Culinary Arts To Cognitive Science: The Median Student Debt For Every US Bachelor’s Degree
From Culinary Arts To Cognitive Science: The Median Student Debt For Every US Bachelor’s Degree
According to the Federal Reserve, student…
According to the Federal Reserve, student loans added up to $1.6 trillion in Q2 2023, making them the third largest category of U.S. household debt behind auto loans ($1.8 trillion) and mortgages ($12 trillion).
The current student debt figure represents a 40% increase from a decade ago, resulting in greater pressure for the federal government to do more to help debtors. For example, on Oct 4. 2023, the Biden administration announced an additional $9 billion in student debt cancellations, bringing the total relief amount to $127 billion.
With student debt becoming a broader social issue, Visual Capitalist's Marcus Lu has visualized data from the Education Data Initiative to show you the median debt per major for a bachelor’s degree in the country.
Dataset and Highlights
The following table includes all of the data we used to create this graphic. Note that we’re showing median student debt, which differs from the mean average.
To understand how this works, imagine a list of every student’s debt for a given major. The median represents the middle value, meaning half of students owe less than that amount, while the other half owes more.
Major | Field of Study | 2022 Median Debt (USD thousands) |
---|---|---|
Behavioral Sciences | Social Sciences | $42.8 |
Religious Education | Arts and Humanities | $32.0 |
Culinary Arts and Related Services |
Arts and Humanities | $28.6 |
Human Services | Social Sciences | $28.6 |
Education | Other | $28.0 |
Clinical, Counseling, and Applied Psychology |
Health and Medicine | $27.4 |
Literature | Arts and Humanities | $27.0 |
Natural Sciences | Sciences | $26.9 |
Physical Sciences | Sciences | $26.6 |
Music | Arts and Humanities | $26.6 |
Architecture | Arts and Humanities | $26.5 |
Arts, Entertainment, and Media Management |
Arts and Humanities | $26.5 |
Visual and Performing Arts | Arts and Humanities | $26.5 |
Health Professions and Related Clinical Sciences |
Health and Medicine | $26.0 |
Communication, Journalism, and Related Programs |
Other | $25.9 |
Drama/ Theater Arts and Stagecraft |
Arts and Humanities | $25.8 |
Astronomy and Astrophysics | Sciences | $25.6 |
Engineering, General | Engineering | $25.5 |
Multi-/Interdisciplinary Studies | Other | $25.4 |
Aerospace, Aeronautical, and Astronautical Engineering |
Engineering | $25.2 |
Biological and Physical Sciences | Sciences | $25.2 |
Foods, Nutrition, and Related Services |
Health and Medicine | $25.2 |
Biochemical Engineering | Engineering | $25.1 |
Information Science/Studies | Sciences | $25.1 |
Film/Video and Photographic Arts |
Arts and Humanities | $25.0 |
Social Work | Health and Medicine | $24.9 |
Zoology/Animal Biology | Sciences | $24.7 |
Civil Engineering | Engineering | $24.6 |
City/Urban, Community, and Regional Planning |
Social Sciences | $24.5 |
Criminal Justice and Corrections | Social Sciences | $24.5 |
Mechanical Engineering | Engineering | $24.5 |
Radio, Television, and Digital Communication |
Other | $24.4 |
Business Administration, Management, and Operations |
Other | $24.4 |
Health and Physical Education/ Fitness |
Health and Medicine | $24.2 |
Accounting | Other | $24.1 |
Computer & Information Sciences | Sciences | $24.0 |
Public Relations, Advertising, and Applied Communication |
Other | $23.9 |
Chemical Engineering | Engineering | $23.8 |
Biology | Sciences | $23.7 |
Journalism | Other | $23.4 |
Criminology | Social Sciences | $23.4 |
Liberal Arts and Sciences, General Studies and Humanities |
Social Sciences | $23.3 |
Botany/Plant Biology | Sciences | $23.3 |
Psychology | Social Sciences | $23.3 |
Public Health | Health and Medicine | $23.1 |
Archeology | Social Sciences | $23.0 |
Communication and Media Studies |
Other | $22.8 |
Social Sciences | Social Sciences | $22.8 |
Chemistry | Sciences | $22.8 |
Hospitality Administration/Management | Health and Medicine | $22.8 |
Physics | Sciences | $22.8 |
History | Social Sciences | $22.8 |
Registered Nursing, Nursing Administration, Nursing Research, and Clinical Nursing |
Health and Medicine | $22.6 |
English Language and Literature | Arts and Humanities | $22.5 |
Sociology | Social Sciences | $22.3 |
Computer Science | Sciences | $22.3 |
Marine Sciences | Sciences | $22.2 |
Political Science and Government | Social Sciences | $22.0 |
Science, Technology, and Society |
Sciences | $21.8 |
Mathematics | Sciences | $21.8 |
Geography and Cartography | Social Sciences | $21.7 |
Anthropology | Social Sciences | $21.7 |
Animal Sciences | Sciences | $21.6 |
Environmental Design | Social Sciences | $21.2 |
Agricultural | Sciences | $20.8 |
Economics | Other | $20.7 |
Statistics | Other | $20.6 |
Public Administration | Social Sciences | $20.6 |
Philosophy | Social Sciences | $20.6 |
International/Global Studies | Other | $19.9 |
Business Operations Support and Assistant Services |
Other | $19.1 |
Cognitive Science | Sciences | $18.1 |
International and Comparative Education |
Other | $13.0 |
From this dataset we can see that median debt for most Bachelor’s degrees is in the mid $20,000s range. Two outliers at the upper end are Behavioral Sciences ($42,800) and Religious Education ($32,000), while at the lower end we can see Comparative Education ($13,000) and Cognitive Science ($18,100).
Comparative education is a social science that involves the study of education systems, processes, and outcomes across different countries or cultures.
Looking at this data from a broader perspective, we can also see some trends emerge based on field of study. For starters, most Arts and Humanities degrees fall in the upper half of the ranking, while the bottom quarter of the ranking appears to be largely made up of Social Sciences, Sciences, and various business studies.
What About a Master’s Degree?
Education Data Initiative also includes median debt data for master’s degrees.
Major | Field of Study | 2022 Median Debt (USD thousands) |
---|---|---|
Advanced/Graduate Dentistry and Oral Sciences |
Health and Medicine | $158,155 |
Visual and Performing Arts | Arts and Humanities | $63,830 |
Radio, Television, and Digital Communication |
Other | $55,554 |
Social Sciences | Social Sciences | $54,554 |
Philosophy | Social Sciences | $54,260 |
Journalism | Other | $53,213 |
Statistics | Other | $53,174 |
Clinical, Counseling, and Applied Psychology |
Health and Medicine | $51,888 |
Registered Nursing, Nursing Administration, Nursing Research, and Clinical Nursing |
Health and Medicine | $51,420 |
Multi/Interdisciplinary Studies | Other | $48,693 |
Public Relations, Advertising, and Applied Communication |
Other | $48,366 |
Sociology | Social Sciences | $46,871 |
Health Professions and Related Clinical Sciences |
Health and Medicine | $44,598 |
English Language and Literature | Arts and Humanities | $44,301 |
Political Science and Government | Social Sciences | $43,853 |
Liberal Arts and Sciences, General Studies and Humanities |
Social Sciences | $43,408 |
Finance and Financial Management Services |
Other | $43,408 |
Psychology | Social Sciences | $43,408 |
Business Administration, Management, and Operations |
Other | $43,251 |
Economics | Other | $43,053 |
Literature | Arts and Humanities | $42,826 |
Computer Engineering | Engineering | $42,647 |
Public Administration | Social Sciences | $42,154 |
Arts, Entertainment, and Media Management |
Arts and Humanities | $41,238 |
History | Social Sciences | $40,948 |
Computer & Information Sciences | Sciences | $40,579 |
Anthropology | Social Sciences | $40,428 |
Biology | Sciences | $40,265 |
Architecture | Arts and Humanities | $39,788 |
Communication and Media Studies | Other | $39,270 |
International/Global Studies | Other | $37,180 |
Zoology/Animal Biology | Sciences | $37,056 |
Hospitality Administration/Management | Other | $36,203 |
Marketing | Other | $35,738 |
Criminology | Social Sciences | $35,318 |
Computer Science | Sciences | $35,301 |
Engineering | Engineering | $33,235 |
Health and Physical Education/Fitness | Health and Medicine | $32,372 |
Agriculture | Sciences | $30,676 |
Geography and Cartography | Social Sciences | $30,657 |
Education | Other | $29,434 |
Chemistry | Sciences | $28,912 |
Accounting | Other | $28,212 |
Mechanical Engineering | Engineering | $26,775 |
Civil Engineering | Engineering | $26,180 |
International Agriculture | Sciences | $23,275 |
While obtaining a master’s typically results in a greater amount of student debt, it can actually depend on your major. For instance, the median debt for a master’s in Computer Science is $35,300, which is $7,500 lower than a bachelor’s in Behavioral Science.
The biggest outlier from this list is Graduate Dentistry and Oral Sciences, with a median debt of $158,155. While this may sound like a lot, it should be compared to the average salary of a U.S. dentist, which according to Indeed is $225,400 per year.
Uncategorized
One city held a mass passport-getting event
A New Orleans congressman organized a way for people to apply for their passports en masse.
While the number of Americans who do not have a passport has dropped steadily from more than 80% in 1990 to just over 50% now, a lack of knowledge around passport requirements still keeps a significant portion of the population away from international travel.
Over the four years that passed since the start of covid-19, passport offices have also been dealing with significant backlog due to the high numbers of people who were looking to get a passport post-pandemic.
Related: Here is why it is (still) taking forever to get a passport
To deal with these concurrent issues, the U.S. State Department recently held a mass passport-getting event in the city of New Orleans. Called the "Passport Acceptance Event," the gathering was held at a local auditorium and invited residents of Louisiana’s 2nd Congressional District to complete a passport application on-site with the help of staff and government workers.
'Come apply for your passport, no appointment is required'
"Hey #LA02," Rep. Troy A. Carter Sr. (D-LA), whose office co-hosted the event alongside the city of New Orleans, wrote to his followers on Instagram (META) . "My office is providing passport services at our #PassportAcceptance event. Come apply for your passport, no appointment is required."
More Travel:
- A new travel term is taking over the internet (and reaching airlines and hotels)
- The 10 best airline stocks to buy now
- Airlines see a new kind of traveler at the front of the plane
The event was held on March 14 from 10 a.m. to 1 p.m. While it was designed for those who are already eligible for U.S. citizenship rather than as a way to help non-citizens with immigration questions, it helped those completing the application for the first time fill out forms and make sure they have the photographs and identity documents they need. The passport offices in New Orleans where one would normally have to bring already-completed forms have also been dealing with lines and would require one to book spots weeks in advance.
These are the countries with the highest-ranking passports in 2024
According to Carter Sr.'s communications team, those who submitted their passport application at the event also received expedited processing of two to three weeks (according to the State Department's website, times for regular processing are currently six to eight weeks).
While Carter Sr.'s office has not released the numbers of people who applied for a passport on March 14, photos from the event show that many took advantage of the opportunity to apply for a passport in a group setting and get expedited processing.
Every couple of months, a new ranking agency puts together a list of the most and least powerful passports in the world based on factors such as visa-free travel and opportunities for cross-border business.
In January, global citizenship and financial advisory firm Arton Capital identified United Arab Emirates as having the most powerful passport in 2024. While the United States topped the list of one such ranking in 2014, worsening relations with a number of countries as well as stricter immigration rules even as other countries have taken strides to create opportunities for investors and digital nomads caused the American passport to slip in recent years.
A UAE passport grants holders visa-free or visa-on-arrival access to 180 of the world’s 198 countries (this calculation includes disputed territories such as Kosovo and Western Sahara) while Americans currently have the same access to 151 countries.
stocks pandemic covid-19 grantsUncategorized
Fast-food chain closes restaurants after Chapter 11 bankruptcy
Several major fast-food chains recently have struggled to keep restaurants open.
Competition in the fast-food space has been brutal as operators deal with inflation, consumers who are worried about the economy and their jobs and, in recent months, the falling cost of eating at home.
Add in that many fast-food chains took on more debt during the covid pandemic and that labor costs are rising, and you have a perfect storm of problems.
It's a situation where Restaurant Brands International (QSR) has suffered as much as any company.
Related: Wendy's menu drops a fan favorite item, adds something new
Three major Burger King franchise operators filed for bankruptcy in 2023, and the chain saw hundreds of stores close. It also saw multiple Popeyes franchisees move into bankruptcy, with dozens of locations closing.
RBI also stepped in and purchased one of its key franchisees.
"Carrols is the largest Burger King franchisee in the United States today, operating 1,022 Burger King restaurants in 23 states that generated approximately $1.8 billion of system sales during the 12 months ended Sept. 30, 2023," RBI said in a news release. Carrols also owns and operates 60 Popeyes restaurants in six states."
The multichain company made the move after two of its large franchisees, Premier Kings and Meridian, saw multiple locations not purchased when they reached auction after Chapter 11 bankruptcy filings. In that case, RBI bought select locations but allowed others to close.
Another fast-food chain faces bankruptcy problems
Bojangles may not be as big a name as Burger King or Popeye's, but it's a popular chain with more than 800 restaurants in eight states.
"Bojangles is a Carolina-born restaurant chain specializing in craveable Southern chicken, biscuits and tea made fresh daily from real recipes, and with a friendly smile," the chain says on its website. "Founded in 1977 as a single location in Charlotte, our beloved brand continues to grow nationwide."
Like RBI, Bojangles uses a franchise model, which makes it dependent on the financial health of its operators. The company ultimately saw all its Maryland locations close due to the financial situation of one of its franchisees.
Unlike. RBI, Bojangles is not public — it was taken private by Durational Capital Management LP and Jordan Co. in 2018 — which means the company does not disclose its financial information to the public.
That makes it hard to know whether overall softness for the brand contributed to the chain seeing its five Maryland locations after a Chapter 11 bankruptcy filing.
Bojangles has a messy bankruptcy situation
Even though the locations still appear on the Bojangles website, they have been shuttered since late 2023. The locations were operated by Salim Kakakhail and Yavir Akbar Durranni. The partners operated under a variety of LLCs, including ABS Network, according to local news channel WUSA9.
The station reported that the owners face a state investigation over complaints of wage theft and fraudulent W2s. In November Durranni and ABS Network filed for bankruptcy in New Jersey, WUSA9 reported.
"Not only do former employees say these men owe them money, WUSA9 learned the former owners owe the state, too, and have over $69,000 in back property taxes."
Former employees also say that the restaurant would regularly purchase fried chicken from Popeyes and Safeway when it ran out in their stores, the station reported.
Bojangles sent the station a comment on the situation.
"The franchisee is no longer in the Bojangles system," the company said. "However, it is important to note in your coverage that franchisees are independent business owners who are licensed to operate a brand but have autonomy over many aspects of their business, including hiring employees and payroll responsibilities."
Kakakhail and Durranni did not respond to multiple requests for comment from WUSA9.
bankruptcy pandemicUncategorized
Industrial Production Increased 0.1% in February
From the Fed: Industrial Production and Capacity Utilization
Industrial production edged up 0.1 percent in February after declining 0.5 percent in January. In February, the output of manufacturing rose 0.8 percent and the index for mining climbed 2.2 p…
Industrial production edged up 0.1 percent in February after declining 0.5 percent in January. In February, the output of manufacturing rose 0.8 percent and the index for mining climbed 2.2 percent. Both gains partly reflected recoveries from weather-related declines in January. The index for utilities fell 7.5 percent in February because of warmer-than-typical temperatures. At 102.3 percent of its 2017 average, total industrial production in February was 0.2 percent below its year-earlier level. Capacity utilization for the industrial sector remained at 78.3 percent in February, a rate that is 1.3 percentage points below its long-run (1972–2023) average.Click on graph for larger image.
emphasis added
This graph shows Capacity Utilization. This series is up from the record low set in April 2020, and above the level in February 2020 (pre-pandemic).
Capacity utilization at 78.3% is 1.3% below the average from 1972 to 2022. This was below consensus expectations.
Note: y-axis doesn't start at zero to better show the change.
The second graph shows industrial production since 1967.
Industrial production increased to 102.3. This is above the pre-pandemic level.
Industrial production was above consensus expectations.
-
Uncategorized3 weeks ago
All Of The Elements Are In Place For An Economic Crisis Of Staggering Proportions
-
International1 week ago
EyePoint poaches medical chief from Apellis; Sandoz CFO, longtime BioNTech exec to retire
-
Uncategorized4 weeks ago
California Counties Could Be Forced To Pay $300 Million To Cover COVID-Era Program
-
Uncategorized3 weeks ago
Apparel Retailer Express Moving Toward Bankruptcy
-
Uncategorized4 weeks ago
Industrial Production Decreased 0.1% in January
-
International1 week ago
Walmart launches clever answer to Target’s new membership program
-
Spread & Containment3 days ago
IFM’s Hat Trick and Reflections On Option-To-Buy M&A
-
Uncategorized4 weeks ago
RFK Jr: The Wuhan Cover-Up & The Rise Of The Biowarfare-Industrial Complex