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This graphic is called, “Student Loans: Looking at the Numbers.” There is an introduction and then a series of stats and charts. The introduction reads, “Earning a college degree can involve borrowing tens of thousands of dollars. But data shows grant money is rising, and the lifetime value of a college degree remains high. Knowing the numbers—and the importance of choosing the right major—can reduce the stress of financing an education.” The first box of the graphic is titled, “Student Debt in the United States.” There is a stat that reads, “54% of students earning a bachelor’s degree from public and private nonprofit four-year institutions graduated with debt in the 2020–2021 school year.” A Chart that shows, “The average amount owed among borrowers: 2010–2011: $29,900; 2015–2016: $32,100; and 2020–2021: $29,100.” Annotations on the chart read “Average debt among borrowers rose 7.4% between 2010–2011 and 2015–2016 but then declined 9.3% between 2015–2016 and 2020–2021.” A note says that “(Numbers adjusted for inflation.)” The next box is titled, “Increase in Grant Aid.” It reads, “There’s more good news: In the 2021–2022 school year, average grant aid per full-time undergraduate student totaled $10,590, double what it was 20 years prior.” A chart in this section shows the grant numbers: “2001–2002: $5,190; 2010–2011: $8,570; and 2021–2022: $10,590.” A note says that “(Numbers adjusted for inflation.)” The next box is titled, “The Value of Education” and reads, “A college degree may involve taking on debt, but it also pays off over a lifetime.” A statistic reads, “$1.2 million: The estimated difference in median earnings over the course of a career between a college graduate and a high school graduate. Plus, over the last 20 years, the unemployment rate among college graduates has been about half the unemployment rate among high school graduates.” A chart in this section shows the, “Average unemployment rate from April 2003 to April 2023.” It was, “6.1% for high school graduates” and “3% for college graduates (and higher).” A note says that “(Based on seasonally adjusted monthly unemployment rates.)” The next box is titled, “Choosing a Major.” It reads, “The right major can improve the value of your degree, both financially and emotionally.” A statistic reads, “82% of college graduates believe their degree was a good financial investment, but 61% would change their majors if they could go back.” A pie chart shows the “Top reasons to choose a different major: I want to pursue my passion: 26%; I want better/more job opportunities: 25%; I want better compensation or benefits: 14%; I am personally dissatisfied with or burned out in my current career: 10%; and I want to learn in-demand skills: 14%.” The sources for the graphic reads, “Sources: CollegeBoard, Georgetown University McCourt School of Public Policy, U.S. Bureau of Labor Statistics and BestColleges.”
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