Student loan debt varies widely based on the major and degree level. Law, medical, dental, and veterinary degrees have some of the highest student loan debt, often exceeding $150,000. Business, architecture, and pharmacy degrees also carry significant debt, with many graduates borrowing over $100,000.
Medical professionals take on the most debt—even when their high salaries are accounted for. However, their debt-to-income declines the fastest in the decade following graduation.
Black and Latino borrowers are disproportionately impacted by student loan debt. Due to racial wealth disparities, most Black and Latino college students come from low-income backgrounds and can count on only a fraction of the financial support.
In general, the majors that often lead to less post-graduation debt are certain STEM fields (like Engineering, Computer Science, or Health Sciences), because these fields often have high starting salaries, which could make it easier to pay off any loans you take out for your education.
