New leading economic indicator

How much for a Philosophy Major?

Here’s an interesting economic number to look at: forecast the average salary for the first ten years of employment for a major. Then forecast the average amount of debt the person graduating with that major will be burdened with upon graduation. Then figure out, using standard loan repayment rates, how long it will take the average person to pay off the average debt with an average salary in that field. Salary average should consider unemployment rates for those first ten years.

That number should be on a label affixed to every college brochure ever sent out, with a separate label for every major that college offers. And the unit of measure shouldn’t be time, it should be the number of ramen-only dinners you’ll have to eat before your school loans are paid off.

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