The Wrong Major Can Lead to a Debt Recovery Service

“Study hard in school, go to college, so you can get a good job,” is what parents always told their kids. Depending on what you studied in school, you may or may not have a good job.

Being buried in tens of thousands of student loans and having a debt recovery service calling you is the more likely result.

Student loans is not uncommon. Actually when it comes to debt, there no problem more common. Over $867 billion is owed in student loans. That is significantly more than the $734 billion that is owed in auto loans or the $704 billion that is owed in credit card debt. The problem is significant and it is not slowing down.

There are two reasons that this problem is happening. The first is that the wrong majors are being chosen by students. They are choosing a field that they will enjoy and have interest in.

Choosing something you have interest is fine but you must do the research to see if that field is going to be in demand by the time you get out of school. If you choose the wrong major you could wind up in serious debt and end up getting involved with a debt recovery service instead of finding a job.

The second being that college is seen as a necessity. It’s also the reason why the debt is growing very quickly. It is a cycle. You need college to get a good job. You need a job to earn money. You need money to go to college. If you choose to jump into the cycle, you get one chance.

You get student loans and you go to college. Choose the right course of study, get a good job and be able to pay off those student loans. Choose the wrong course of study and you could be buried in student loans and have debt collectors on your trail.

Student loans is the most significant problem when it comes to debt. It is very hard to prevent debt from student loans because as earlier stated, it is seen as a necessity.

The best way you can attempt to prevent student loan debt is making sure to choose a major that will be in demand when you graduate.

It’s great to do something you like but if jobs are not available, there is no point and you will be buried knee-deep in debt with a useless degree balled up in your hand. Choose wisely.

30 Replies to “The Wrong Major Can Lead to a Debt Recovery Service”

  1. Well, it’s the field of arts and humanities that is always seen as ‘the starving artists’ field.’ Parents look at it that way so they discourage their children to take arts and humanities courses. I don’t think so. I still think we should take the degree we really like. If we like it, we will try hard to be one of the bests at it and won’t be easily bored. When you’re the best at something, whatever it is, it can bring you money.

  2. It’s definitely wise and practical to choose a right major and right course that will be opportunistic when you’re done with it but it’s equally important to choose a major in which one’s interest and passion lies in, if that course is not that profitable it doesn’t mean you should not choose it.There are few other things you can do to avoid student loan like going into a state college where tuition fees are less, taking college lever courses in high school or attending a community college for the first few years.
    Though choosing the right major is very important but a major that you enjoy as well.

  3. This is a difficult choice to make. I certainly believe you should pick the one that you’re passionate about and not the one you’re not interested in. If you’re interested in something that will be of great demand after you graduate, that’s better. Anyway, I only usually hear about student debts in the US.

    1. Hi Stana, yes this article is primarily geared to the US market, but may be applicable to other countries around the world as well. Thank you and everyone else who chimed in to comment. Very interesting feedback!

  4. I agree that choosing the right college degree could ease down the growing amount of student loans. However, we have to consider other options to decrease the number of loans and lighten the burden of the students. Take for example, In a good economy, funding should increase for state scholarships. It would also be a good thing if there will be a special tax incentives for academic institution or private corporations who assist students in their student loans.

  5. This is a really informative piece. Choosing an in demand course in the future is correct but what if that person realizes that he or she is not for that career? Student loans are really a pain in the ass but of course it is important that the chosen career is not something that is done only to pay for loans. It must be something that is really fulfilling to the person so he or she will be able to enjoy the job and at the same time earning the right amount. Besides, there are a lot of ways to earn money. Sticking to one job will burden the person more to do the job just to be able to pay for loans.

  6. “Choosing something you have interest is fine but you must do the research to see if that field is going to be in demand by the time you get out of school. If you choose the wrong major you could wind up in serious debt and end up getting involved with a debt recovery service instead of finding a job.”

    This is so true. There is sush a thing as “Supply and Demand”. We could be passionate about something. But if it isn’t what the market needs then we are more likely to fail.

    We have to choose a middle ground. We have to take something we are interested in and at the same time something that the market needs.

  7. This is a tough one. Do you follow your dream, pick the major that you want, work passionately, but don’t earn enough, or, pick a major that would get you jobs that pay well, but hate the job?

  8. Thanks for such an informative piece. I think the greatest challenge lies in how to know whether or not your course will be marketable by the time you are through with it. The job market is quite saturated as it is.

  9. As an aspiring college student this couldn’t come at a better time. It is admittedly difficult to figure out exactly which courses may end up not giving me a job opportunity in future but I am of the thought that whatever course one majors in, with the right determination, an opportunity will always avail itself.

  10. In India there is always be trend of education,Some years ago there was a trend of teaching courses and nowadays the trend of professional courses like B-tech,MBA,MCA,But nobody thinks the demand of market.Whether these courses really fulfill your children dreams and also the student loan.

    Nowadays student loan is also in trending,If one parent took the loan for his child education the other child parent also took loan. I think everyone should think before taking a education loan for his child education.

  11. I totally agree that students loan is one hardship that a student and the parents are facing now a days. Better yet, think and study first before choosing to loan and the course to take and its significance in the years to come.

  12. This is true and students will likely to have more loans if the major they first picked is not actually what they thought it would be. They could extend more terms or shift to a different major if they would not plan ahead. This will lead more to student loans. Hence, it is always advised to list at least three (3) majors you may be interested with and have a thorough research about number of enrollees each academic year, number of graduates per year, and check if the trend for demand for that major is increasing. There will always be historical data available on the university’s website and on the government’s website.

  13. Who wishes they lived in Finland after reading this? I know I sure do because not only would I not have to pay for my college education, but if my major did not help me land a job I could just go back. Yes it would be starting over, and pushing back being independent. Bet hey no student loans right? I’m also sure they have more info regarding the types of jobs you could get for what courses and what the chances of you getting a job in that field are. Government doesn’t want to waste money after all.

  14. Student loans definitely are impacted by your degree, depending on if your degree actually helped you to get a specific job. However, I disagree with the statement that you can have the ‘wrong major’ because most post secondary graduates do not go into careers that directly apply to their degrees.

  15. Definitely university education is overrated. The offer of professionals is very high and opportunities are reduced more and more. “Study hard in school, go to college, so you can get a good job” is a myth… so It Is necessary to find new alternatives.

  16. Student loans are unnecessary, you can learn whatever you want by yourself actually if you think about it, people as Bill Gates and Steve Jobs never had a diploma and they were very successful so you don’t need a loan to be successful

  17. Thank you so much, this has been very useful for me as an upcoming college freshman who is worried about the future. From your article, I am now motivated to rethink my major and really make the necessary research to avoid sinking into debt after I graduate! I especially liked it when you mentioned: “It’s great to do something you like but if jobs are not available, there is no point”
    It really got me thinking, because I’ve always been in this battle of choosing between a major I like, and a major that is practical. Maybe I’ll meet halfway and choose a practical major that I somewhat like?

  18. Our colleges and universities are partly to blame for students choosing the wrong majors. They offer such a wide array of courses but very little information is released in terms of the opportunities that those same courses may avail in future.

    1. True. And that’s why students (and parents) need to do their own due diligence and research so that a student can make a solid career decision. You can’t rely on colleges and universities to provide projective information.

  19. There’s nothing as stressful as student loans to a graduate. The mere mention of it is enough to cause shudders. Thanks for pointing out that the kind of major one chooses can go a long way in determining how well they will handle their loans. Informative read to all aspiring college students out there.

  20. Student loans can indeed be a pain if you fail to land a good paying job that can easily help service the loan. Apart from encouraging students to go for the right majors, policy makers can also help assuage the problem by making policies that will enable each graduate to comfortably pay back their loans depending on the kind of income they get.

  21. With a job market that is getting saturated and automation taking up most of the traditional jobs, college students are left with fewer and fewer choices. That said, it is indeed wise to really do your homework on what one would like to major in lest they be left without a job and a heavy student loan.

  22. Parents can sometimes be partly to blame. Many a times parents will push their children to take ‘prestigious’ majors that the student may not necessarily be interested in. Consequently they don’t give it their all, fail to secure a good job and are left with a crippling student loan.

  23. Student loans are crippling. On top of trying to find your feet in the world after graduation, with all the expenses for rent, utilities and all the other necessities; you have to worry about paying back your student loans. I personally got lucky with supportive parents who took care of my college education but even without student loans, I find myself struggling to find a stable and substantial source of income. I can only imagine how hard it is for those with student debt. Choosing the right degree that will pay well is advisable, like what the article says but ultimately, students loans are a pain.

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