When you take a student loan, make sure you take one for a career that would help you pay off the loan soon enough. Given the fact that graduates who manage to get a high-paying job take years to clear their loans, there remains no doubt that those who end up with low paying jobs would take nearly two decades to emerge debt-free. The bottom line is: go for a student loan only if the future prospects are worth it. To this end, this article talks about the worst careers to go for student loans.
Worst Careers To Pursue
Veterinarians as you know are not human doctors. And sick animals can never match the count of human patients. So, this is one such job which doesn’t give you a good pay. This means, if you opt for this career, it could take you nearly 28 years to clear off your debts. However, you won’t find it hard to get a job as a veterinarian. Taking high loans for a career that requires eight years of schooling before they can take off is certainly not worth the trouble.
Journalism can be a good career for those who can prove themselves down the line. But as a beginner it entails a lot of struggle mostly in terms of low pay. So, steering clear off debts can take considerable time. It is reported that journalists, manage to get a third of the average pay of marketers. This means it would take them over 30 years to pay off their loans. If you fail to carve out a niche for yourself in this field — say, as a leading columnist — you may have to retire with debts.
Marriage and family therapist
The average salary in this profession is around $47,000. And to start your career you need a minimum six years of school. According to Bankrate, to clear off the student loan you may need around 35 years.
The requirement for veterinarians and family therapists would nearly double by 2020. In that case the salary figures might grow slightly better. However, from today’s perspective, it makes little sense to go for high student loans for these professions.