Living with student loans, earnings by major, Mick Jagger

I paid mine off 3 years ago. The federally subsidized rate was less than 1%, and they gave me 16 years to pay. That was then. New UO graduate Spencer Adrian has an op-ed in the RG on what it’s like now. Meanwhile the NYT has a story on new work showing how recessions increase the variance across majors in starting wages, here:

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(As the article discusses, while recessions decrease overall starting wages they increase the college premium. The figure does not show the average drop in wages for those graduating during recessions, just the deviations by major.)

And the Chronicle cites a recent paper on the surprisingly small selection effect for the payoffs by major, here. As an aside the author notes “Mick Jagger — and the world — would be much worse off if he had stayed at the London School of Economics and gotten an econ degree instead of dropping out to hang out with Keith Richards.”

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