1. Medical Professionals (Doctors and Surgeons) Medical professionals consistently top the list of careers with the highest student loan debt. Reason for debt: Lengthy education (4 years of undergraduate studies, 4 years of medical school, plus residency and possibly fellowship).
In general, the majors that often lead to less post-graduation debt are certain STEM fields (like Engineering, Computer Science, or Health Sciences), because these fields often have high starting salaries, which could make it easier to pay off any loans you take out for your education.
Atop the list is Maine Maritime Academy, where 2019 graduates who borrowed left with an average debt load of $56,897 – nearly $27,000 above the average among all ranked colleges.
Average Engineer Salary
For mechanical engineers, the average student loan debt is $23,000 while the average starting salary is $64,682. For civil engineers, however, the average student loan debt is $24,035 while the average starting salary is $59,892.
District of Columbia residents have the nation's highest average federal student loan debt at $54,795 per borrower.
Women are stereotypically seen as irresponsible spenders, but the data doesn't back this up. According to a 2019 Experian study, men carry more debt than women across nearly all categories, including credit card debt — the study found that men have $125 more in credit card debt than women on average.
Anesthesiologist — $302,970/$145.66 per Hour
All that time and effort pay off, however: Anesthesiologists top out as the highest-paid profession in all of America, at $302,970 per year on average, making them by definition an overpaid career.
Looking at all U.S. bachelor's degrees, certain majors were more likely than others to result in a heavy burden of debt, according to the Education Data Initiative's new study. At the top of the list for debt was behavioral sciences, which racked up a median debt of $42,822.
Dentists' debt-to-income ratios worse than other health workers. Though school debt consistently exceeded income for healthcare occupations -- except for physicians -- between 2017 and 2022, dentists had the highest debt-to-income ratios. The study was published in the American Journal of Pharmaceutical Education.
The major with the largest median debt for a Bachelor's degree is Behavioral Sciences at $42,822. The major with the smallest median debt for a Bachelor's degree is Science Technologies/Technicians, General, at $9,529.
Approximately three-quarters of Black- and White-headed families have debt, but the median debt-to-asset ratio is 50% higher among Black than White families (Copeland, 2020), with Black borrowers less likely to fully repay loans (Brevoort et al., 2021).
Behind the numbers (WSJ): Due to escalating tuition and easy credit, the U.S. has 101 people who owe at least $1 million in federal student loans, according to the Education Department. Five years ago, 14 people owed that much. More could join that group.
Research has shown that students in humanities, sports and exercise science, engineering, natural sciences, psychology, arts and design, nursing, anesthesiology, and psychology majors are more likely to experience long-term happiness and fulfillment.
$159,800 - $246,400. Maintains a mentorship attitude and demonstrates the ability to guide junior engineers. As a principal-level engineer, you will drive leading edge projects and initiatives that will impact critical…
U.S. consumers carry $6,501 in credit card debt on average, according to Experian data, but if your balance is much higher—say, $20,000 or beyond—you may feel hopeless. Paying off a high credit card balance can be a daunting task, but it is possible.
The failure rate for engineering students is unparalleled. A staggering 40% of students in engineering do not make it through the first year and of those who make it, 30% would fail in many of its fundamental courses.