Save money with a technical degree

March 29, 2013

There are many reasons to choose a certain degree, and one may be financial. High school students looking ahead to college may often wonder what to pursue. Parents returning to school have the same choice to face, in addition to the responsibilities of family life and the question of how to pay for classes.

Especially for mothers with families to provide for, getting money for college is a definite benefit. Undergraduate scholarships aid in this department, and recent trends in the education world mean parents can also save.

Florida offers money to technical students
A 2013 Time Magazine report notes that in Florida, those who land in the more technical degree programs, including science and engineering, may not have to pay as much for their educations as those who pursue the humanities. 

Reasons for this proposal stem from the fact that these fields need workers. With this measure, Florida Governor Rick Scott wants to stimulate the state's economy, according to The Michigan Daily.

Educating people to perform in these high demand fields may be good for states' livelihoods, but it also could be a financial boon for students with an interest in related studies.

Previously, according to Time, these technical study areas were often pricier than others. Because technical equipment is expensive, some schools expected students to pay more if they chose related majors.

Florida's new willingness to invest in this expense shows the state's dedication to refueling certain fields of work. Whether or not students will take advantage of the initiative is up for for debate. 

"You don't bump into engineering by accident. It requires a serious commitment to education and a more structured path to get there," said Tom Mortenson of the Pell Institute for the Study of Opportunity in Higher Education, as quoted by the news source. 

Prospective students who only vaguely considered these study areas in the past, however, may now find them more appealing in light of the new financial benefits.

Technical fields yield more money
In states like Florida, pursuing a technical field may be cheaper. But in the U.S. on the whole, doing so more than likely leads to a high-paying job.

A 2011 Georgetown University report highlighted which degrees result in the highest incomes. 

Petroleum engineering was at the top of the list with a typical yearly income of $120,000. Those in pharmaceutical sciences made an average of $105,000 and those in mathematics and computer sciences were at $98,000 per year. 

Conversely, all the lowest earning degrees were in the humanites.

Though they may not be students' ideal choices of study, technical fields may be the best route for those seeking the greatest financial benefits.

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