When it comes to the best degrees for your money, engineering offers the highest median income per degree. Because college is so expensive, it’s important to pay attention to the degree’s return on investment (ROI) to ensure that you can get a well-paying job after you graduate.
However, you shouldn’t choose a major solely because it’s linked to the best-paying jobs. Doing so could lead you to being miserable in college. Or worse, miserable when you start working. You have to weigh the degree’s ROI with your interest and passion for the subject to ensure you have a fulfilling career.
15 best degrees for your money
To find the median income for people holding each degree, Student Loan Hero researchers sampled Census Bureau data from the Integrated Public Use Microdata Series (IPUMS). Researchers only included people older than 18 with a degree who were employed at the time of the 2018 survey.
1: Engineering ($96,200)
2: Military technologies ($88,100)
3 (tie): Computer and information sciences ($86,300)
3 (tie): Transportation sciences and technologies ($86,300)
5: Construction services ($83,100)
6: Engineering technologies ($81,000)
7: Physical sciences ($77,000)
8: Mathematics and statistics ($76,000)
9 (tie): Architecture ($71,000)
9 (tie): Biology and life sciences ($71,000)
11: Social sciences ($70,500)
12: Business ($69,500)
13: Medical and health sciences and services ($65,900)
14: History ($65,600)
15: Nuclear, industrial radiology and biological technologies ($62,800)
Less than 6% of college degrees conferred in 2016 — the last available data — were in engineering, but it’s a degree that leads to the highest-paying careers. In fact, the Harvard Business Review reported in 2018 that 34 of the top 100-performing CEOs in the world had engineering degrees.
There are different specializations within engineering, including chemical engineering, electrical engineering and mechanical engineering. Depending on which discipline you choose, you have a wide range of career options, from working for the government to private organizations.
If you’re preparing for a career in the military and want to become an officer, obtaining a degree in military technologies can give you an edge. Within this degree program, you’ll study leadership skills, military strategy, weaponry and ethics. After graduation, you can enter into the armed forces, homeland security, or join a private defense and security company.
If you need to take out student loans to pay for your military technologies degree, there are a number of loan repayment assistance and forgiveness options for military servicemembers and veterans.
By majoring in computer and information sciences, you’ll learn how to design and analyze programs, systems and programming languages. From software engineering to web development, you can work on the cutting edge of technology, using artificial intelligence and data science to address today’s problems.
With a bachelor’s degree in computer and information sciences, you can qualify for good-paying jobs throughout your career.
For students who pursue a degree in transportation sciences and technologies, they may have an interest in both engineering and solving transportation and environmental issues. Students may specialize in particular areas, such as air transportation, urban transportation, or logistics.
Degree holders can go on to careers in logistics, city planning for government agencies, or manage supply chains for major companies.
If the idea of being stuck in an office all day bores you, you may want to consider a degree in construction services. With a degree in this field, you could become a construction manager, planning and supervising construction projects on-site. As companies continue to grow, building construction — and demand for construction managers — will continue to grow as well, so this can be a lucrative career option.
While engineering and engineering technologies degrees are similar, there are distinct differences. Engineering technology degrees focus on hands-on learning and implementation, with more lab work. Instead of focusing on theory, engineering technology graduates are technologists, and primarily spend their time working in the field doing construction, product design, or testing.
Physical sciences is a degree that focuses on studying processes of the nonliving world, such as chemistry and physics.
If you major in chemistry, you could work for a biochemistry company or in forensic science. If you have a bachelor’s in physics, you could work as a research technician or lab assistant. However, many physical science majors go on to get a master’s or doctoral degree to open up more career opportunities.
While you may need to take out significant student loan debt to pay for school, physical science has the highest earnings to debt ratio, offsetting its cost.
If you enjoy math, obtaining a degree in mathematics and statistics can make you a candidate for some of the best-paying jobs. Mathematicians and statisticians work for the government, private companies and research firms to analyze data and come up with formulas to solve problems.
While some entry-level positions are available if you have a bachelor’s degree, you’ll likely need a master’s degree to advance in your career.
The demand for professionals in this field is extremely high. According to the U.S. Bureau of Labor Statistics, the job outlook is expected to grow by 30% by 2028, much faster than the national average.
With a degree in architecture, you can get a job as an architect and plan and design houses, office buildings and other structures. When it comes to the best degrees for your money, architecture is a solid investment, as you can earn a high salary without needing an advanced degree; most entry-level positions require just a bachelor’s degree to get started.
The job outlook for architects is quite good, with the industry expected to grow faster than the national average.
If you decide to major in biology and life sciences, you could plan to teach high school or college-level students. Or, you could enter into a career doing biological research, forensic science, pharmaceutical development, or medicine.
To succeed in this field, you’ll likely need to go on to get your master’s and doctorate degrees. Demand for skilled professionals is expected to grow, as new treatments for diseases and physical conditions are needed.
A social sciences degree covers a broad range of majors, including anthropology, comparative human development, race and ethnic studies, economics, psychology and sociology.
With a bachelor’s degree in these areas, you have many different career options, from teaching to journalism.
For example, you could become a sociologist, which studies society and social behaviors. While you’ll likely need a master’s degree to secure a job, positions tend to be well-paying. And, the job outlook is expected to grow faster than other occupations, improving your chances for job security.
If you’re getting ready to go to school, you may be asking yourself, “What should I go to college for?” Common advice is to pursue a business degree; it’s by far the most popular major. According to the National Center for Education Statistics, 372,000 degrees — nearly 20% of the total degrees issued in 2016, the last available data — were business degrees.
It’s easy to understand why. A business degree gives you a solid foundation to enter into a wide range of careers, from starting your own business to working as a consultant. If you choose to go on to pursue a masters of business administration, you could qualify for the highest-paying careers and boost your salary over the $100,000 mark. According to the survey by the Wall Street Journal, the median salary for consultants who returned to top consulting firms after receiving their MBA nearly doubled.
Medical and health sciences and services is a huge degree field encompassing a wide range of career paths. It includes fields like administrative health services, nursing, pharmacy and community and public health.
Typically, you’ll need at least a bachelor’s degree to get started. However, most positions in these fields will require advanced degrees. But if you’re looking for jobs that make good money and that offer security, this can be an excellent field, as demand for trained medical personnel continues to grow.
If you’re thinking of majoring in history, you’re in good company. Many famous people majored in history, including former Vice President Joe Biden, comedian Conan O’Brien, and Martha Stewart.
With a bachelor’s degree in history, there are a number of careers that pay well you can choose from. While some history majors go on to become professional historians, you may opt to become a professor or teacher, enter into politics or law, or work for a museum.
Nuclear, industrial radiology and biological technologies is an increasingly popular major as it can lead to a relatively secure career in healthcare. With a degree in this area, there are two main career paths:
- Radiologic and MRI technologist: Technologists create diagnostic images of patients, usually working in hospitals or other healthcare facilities.
- Nuclear medicine technologist: As a nuclear medicine technologist, you’ll prepare radioactive medications — such as those used to treat cancer — and administer them to patients
These are two examples of jobs that pay well without requiring a bachelor’s degree or advanced credential, giving you an excellent return-on-investment. Both positions typically require an associate’s degree for entry-level positions. The job outlook for nuclear, industrial radiology and biological technologies is high, with it expected to grow faster than the national average.
Elyssa Kirkham contributed to this report.
Interested in refinancing student loans?Here are the top 9 lenders of 2021!
|Lender||Variable APR||Eligible Degrees|
|1.89% – 6.15%1||Undergrad & Graduate|
|1.99% – 5.64%2||Undergrad & Graduate|
|2.50% – 6.85%3||Undergrad & Graduate|
|1.90% – 5.25%4||Undergrad & Graduate|
|2.25% – 6.64%5||Undergrad & Graduate|
|1.89% – 5.90%6||Undergrad & Graduate|
|2.39% – 6.01%||Undergrad |
|2.15% – 4.42%7||Undergrad & Graduate|
|2.00% – 5.63%8||Undergrad & Graduate|
|Check out the testimonials and our in-depth reviews! |
1 Important Disclosures for Splash Financial.
Splash Financial Disclosures
Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet applicable underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, a responsible financial history, income and other factors. Refinancing or consolidating private and federal student loans may not be the right decision for everyone. Federal loans carry special benefits not available for loans made through Splash Financial, for example, public service loan forgiveness and economic hardship programs, fee waivers and rebates on the principal, which may not be accessible to you after you refinance. The rates displayed may include a 0.25% autopay discount
The information you provide to us is an inquiry to determine whether we or our lenders can make a loan offer that meets your needs. If we or any of our lending partners has an available loan offer for you, you will be invited to submit a loan application to the lender for its review. We do not guarantee that you will receive any loan offers or that your loan application will be approved. Offers are subject to credit approval and are available only to U.S. citizens or permanent residents who meet applicable underwriting requirements. Not all borrowers will receive the lowest rates, which are available to the most qualified borrowers. Participating lenders, rates and terms are subject to change at any time without notice.
To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
Splash Financial and our lending partners reserve the right to modify or discontinue products and benefits at any time without notice. To qualify, a borrower must be a U.S. citizen and meet our lending partner’s underwriting requirements. Lowest rates are reserved for the highest qualified borrowers. This information is current as of May 1, 2021.
2 Important Disclosures for Earnest.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application..
Earnest fixed rate loan rates range from 2.98% APR (with Auto Pay) to 5.49% APR (with Auto Pay). Variable rate loan rates range from 1.99% APR (with Auto Pay) to 5.34% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of October 26, 2020, and are subject to change based on market conditions and borrower eligibility.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 10/26/2020. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at [email protected], or call 888-601-2801 for more information on our student loan refinance product.
© 2020 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.
3 Important Disclosures for CommonBond.
Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900), NMLS Consumer Access. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 0.15% effective Jan 1, 2021 and may increase after consummation.
4 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised variable APR is only available for loan terms of 5 years and is reserved for applicants with FICO scores of at least 810.
As of 04/07/2021 student loan refinancing rates range from 1.90% APR – 5.25% Variable APR with AutoPay and 2.95% APR – 7.63% Fixed APR with AutoPay.
5 Important Disclosures for SoFi.
6 Important Disclosures for Laurel Road.
Laurel Road Disclosures
All credit products are subject to credit approval.
Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $4 billion in federal and private school loans. Laurel Road also offers a suite of online graduate school loan products and personal loans that help simplify lending through customized technology and personalized service. In April 2019, Laurel Road was acquired by KeyBank, one of the nation’s largest bank-based financial services companies. Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. All loans are provided by KeyBank National Association, a nationally chartered bank. Member FDIC. For more information, visit www.laurelroad.com.
As used throughout these Terms & Conditions, the term “Lender” refers to KeyBank National Association and its affiliates, agents, guaranty insurers, investors, assigns, and successors in interest.
Assumptions: Repayment examples above assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include the 0.25% AutoPay Discount.
Annual Percentage Rate (“APR”): This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.
Interest Rate: A simple annual rate that is applied to an unpaid balance.
Variable Rates: The current index for variable rate loans is derived from the one-month London Interbank Offered Rate (“LIBOR”) and changes in the LIBOR index may cause your monthly payment to increase. Borrowers who take out a term of 5, 7, or 10 years will have a maximum interest rate of 9%, those who take out a 15 or 20-year variable loan will have a maximum interest rate of 10%.
KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This information is current as of April 29, 2021. Information and rates are subject to change without notice.
7 Important Disclosures for PenFed.
Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 2.89%-4.78% APR and Variable Rates range from 2.15%-4.42% APR. Both Fixed and Variable Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. For Variable Rate student loans, the rate will never exceed 9.00% for 5 year and 8 year loans and 10.00% for 12 and 15 years loans (the maximum allowable for this loan). Minimum variable rate will be 2.00%. These rates are subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
8 Important Disclosures for Nelnet.
Checking your rate results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score.
Interest rate reduction of .25% for automatically withdrawn payments from any designated bank account (“auto debit discount”). Auto debit discount applies when full payments (including both principal and interest) are automatically drafted from a bank account. The auto debit discount will continue to apply during periods of approved forbearance or deferment if the auto debit discount was in effect at the time of receiving the forbearance or deferment. Auto debit discount will remain on the account unless (1) the automatic deduction of payments is canceled or (2) there are three consecutive automatic deductions returned for insufficient funds at any time during the term of the loan.
Request for the cosigner to be released can be made by the borrower after 24 consecutive, on-time payments (not later than 15 days after the due date) of principal and interest have been made. Borrowers in deferment or forbearance must make 24 consecutive, on-time payments after re-entering repayment to qualify for the release. The borrower must be current on their payments at the time of the cosigner release request and show the ability to assume full responsibility of the loan(s) by meeting certain credit criteria on their own at the time of the request, including, but not limited to, being a U.S. citizen or having permanent residency in the United States, being the age of majority in their permanent state of residency, providing sufficient proof of income, and having no student loans in default.
Hardship forbearance allows you to temporarily suspend payments on your loan(s) while you are experiencing financial hardship. It is offered in increments of two or three months, with a maximum of 12 months available, in aggregate, over the life of the loan. If your loan(s) are in good standing at the time of your request, you will be eligible for forbearance in increments of two monthly payments. If, at the time of your initial request, your loan(s) are considered past-due, you will be eligible for forbearance in increments of three monthly payments. Future increments of forbearance, up to a life-time maximum of 12 months, may be requested upon the completion of making a certain number of principal and interest payments. During the two- or three-month forbearance period, you will not be required to make payments; however, any unpaid interest will continue to accrue and will be capitalized (added) onto your principal balance at the end of the forbearance period. You may continue making payments in any amount without penalty during the forbearance period. Your loan repayment term will be extended by the number of months in the forbearance period.
Refinance Loan Eligibility: You must be a U.S. citizen or permanent resident alien with a valid U.S. Social Security number, and be the legal age to enter into binding contracts in your permanent state/territory of residency, or be at least 17 years of age and apply with a cosigner who is at least the age of majority in their state/territory. Non-residents can apply with an eligible cosigner who is a U.S. citizen or permanent resident alien with a valid U.S. Social Security number. The student loans you refinance must be in their grace or repayment period, and you can no longer be enrolled in school on a half-time or more basis. You must have at least $5,000 in student loans to refinance. You, or your eligible cosigner, must have an annual income of at least $36,000. Approval subject to credit review. Other credit criteria may apply.
Refinance Loan Limits:
Loan Refinancing Risks: Federal student loans include benefits that may not be offered with private student loans. Carefully review any potential benefits that may be lost by refinancing federal and private education loans, such as the loss of any remaining grace periods. To learn more about what to take into consideration when refinancing federal student loans with private education loans, click here
Selecting ‘Get Started’ results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score.
Fixed interest rates range from 2.99% APR (with auto debit discount) to 6.25% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. The fixed interest rate will remain the same for the life of the loan.
Variable interest rates range from 2.00% APR (with auto debit discount) to 5.63% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. Variable rates may increase after consummation. The variable interest rate is equal to the One-Month London Interbank Offered Rate (“One-Month LIBOR”) plus a margin. The One-Month LIBOR in effect for each monthly period (from the first day of the month through and including the last day of the same month) will be the highest One-Month LIBOR published in The Wall Street Journal “Money Rates” table on the twenty-fifth (25th) day (or if such day is not a business day, the next business day thereafter) of the month immediately preceding such calendar month. The Annual Percentage Rate (APR) for a variable interest rate loan will change monthly on the first day of each month if the One-Month LIBOR index changes. This may result in higher monthly payments. The current One-Month LIBOR index is 0.15% as of 5/4/2021.
The lowest interest rate for each loan type requires automatically withdrawn (“auto debit”) payments, a five-year repayment term, and the borrower making immediate principal and interest payments. Not all borrowers will receive the lowest rate. The interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the credit history of the borrower and, if applicable, the cosigner, (2) the repayment option and loan term selected, (3) the loan type selected, and (4) the highest level of education attained. If approved, applicants will be notified of the rate qualified for within the stated range.
*Checking your rate results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score. **Your actual savings may vary based on interest rates, outstanding balances, remaining repayment terms, and other factors.