by Mark Schneider
American Enterprise Institute
May 15, 2014
US student loan debt now exceeds $1 trillion and is second in the nation only to mortgage debt. Nearly 70 percent of bachelor’s degree holders have taken out student loans, with an average debt of $29,400. Students need data on likely future earnings related to specific programs of study to help them make informed decisions about colleges and majors. The federal government currently monitors these data for “career-oriented” programs only. Student debt burdens vary greatly across programs and schools. All states should follow the lead of Texas and make data on debt and earnings available for all programs of study.

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