Grads Pushed Towards More Lucrative Degrees – OnlineBusinessDegree.org
The majority of parents of college-bound children are not considering the total cost of college, and have high salary expectations, according to a recent college savings indicator study by Fidelity.
Results from the study show that parents are not examining factors such as post-graduation debt, the impact of school selection, and how their children’s field of study can affect job prospects and potential earnings.
Of the 61% of families who are making changes in preparation for post-graduation debt, 38% plan to do so by choosing colleges that are less expensive, 28% will rely heavily on financial aid, and 16% are asking their children to change majors in hopes of earning better salaries after graduation.
The study also finds that 42% of parents encourage their children to choose a particular major in hopes of securing a high-paying job, with the most recommended majors being accounting, computer science, nursing, engineering, psychology, and biology. Additionally, those parents expect their child will earn $70,300 upon graduation.
Though optimistic, those projections do not coincide with the Class of 2012’s average starting salary, which is $44,442, according to the report. Seventy-eight percent of parents reported being optimistic that their children will land a job in their preferred field within six months of graduating, while 23% believe their child will find a job before graduating.
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