Most people assume a degree in the arts is no guarantee of riches. Now there is evidence that such graduates also rack up the most student-loan debt.
A Wall Street Journal analysis of new Department of Education data shows that median debt loads at schools specializing in art, music and design average $21,576, which works out to a loan payment of about $248 a month. That is a heavy burden, considering that salaries for graduates of such schools with five or fewer years’ experience cluster around $40,000, according to PayScale.com.
The data also show that graduates of research universities tend to carry less debt than those of liberal-arts colleges. Median debt loads average $19,445 for liberal-arts schools, versus $18,100 for research universities.
Full story: A Degree Drawn in Red Ink