Tuesday, March 19, 2013
Arts-Focused Colleges Rack Up Most Student Debt
WSJ.com: 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.
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2 comments:
This doesn't surprise me at all. First of all, tuition for any college nowadays is usurious no matter what major. I have also found that, as an art major, I often find myself spending money on expensive art supplies. I am sure this is also true for musicians, who have to purchase and care for their instruments. While it is an issue that so many students and artists are in debt after college, I think this issue goes way beyond just arts-focused colleges. In the video clip, the presenter shared the average debts for the Ivy League students. The debt for a school such as UPenn was not too far off from the debt observed for students at arts-focused colleges. I wonder what exactly causes arts students to rack up the most debt. Either way, college expenses keep going up, and student debt is becoming more and more of an issue in our country.
I completely agree with Jess on this. not only do the Arts schools tend to be more expensive tuition wise but the amount of money we are spending on all of our art supplies is absolutely ridiculous. it should be inclueded with our tuition that we have an arts fund. and on top of all of that arts jobs tend to be the hardest to find. The base salary for a graduating arts student is at an extremely low end of the salary pool.
if we can even find employment. adding to even more student debts needing to be payed off.
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