Recession-Resistant College Degrees

Although there’s no guarantee that getting a higher stratum will guarantee you job security, some career fields are likely to remain reliable no matter what the economy is doing.

A recession is a substantial ripen in economic worriedness that is spread wideness the economy and lasts longer than a few months, equal to the National Bureau of Economic Research (NBER).

Going to school during a recession can make sense — as long as you weigh the potential benefits and costs.

Let’s take a squint at five recession-proof higher degrees and some ways to pay for school during an economic downturn.

 

Degrees least likely to be impacted by a recession

Several types of degrees can help you land a job in a career field that is expected to have stereotype or faster-than-average growth over the next decade. Here are five degrees to consider.

Public accounting

  • Median salary: $50,390

With a public written degree, you’ll study courses such as accounting, internal auditing, and taxation. Without you’ve completed a bachelor’s degree, you can get a variety of financial jobs, such as an internal auditor, tax manager, and written manager.

Accounting jobs are expected to grow 6% from 2021 to 2031, equal to the U.S. Bureau of Labor Statistics (BLS).

Petroleum engineering

  • Median salary: $130,850

As a petroleum engineering major, you’ll study many subjects, including geology, physics, and mathematics. Once you well-constructed this program, you can get a job as a completions engineer, drilling engineer, production engineer, or reservoir engineer.

The BLS predicts that petroleum engineering jobs will rise 8% from 2021 to 2031.

Healthcare management

  • Median salary: $101,340

As a healthcare management major, you’ll study merchantry and healthcare courses, such as economics, accounting, healthcare economics, and healthcare administration. When you well-constructed this degree, you can get a job as a hospital administrator, health insurance analyst, or medical office merchantry manager.

Medical and health management jobs are expected to rise 28% from 2021 to 2031, equal to the BLS.

Nursing

  • Median salary: $77,600

In this stratum program, you’ll study things like patient education, scientific and clinical skills, and humanistic values. You can wilt a registered nurse with an associate’s stratum in nursing or a bachelor’s stratum in nursing. Pursuing a master’s stratum in nursing could lead to a increasingly wide role.

Job openings for registered nurses are expected to grow 6% from 2021 to 2031, equal to the BLS.

Social work

  • Median salary: $50,390

As a social work major, you’ll learn how people are impacted by society and what you can do to modernize their lives. With this degree, you could get a job as a social policymaker, family social worker, or criminal justice social worker.

The BLS predicts that social work jobs will rise 9% from 2021 to 2031.

Attending school in a recession

Going to school during an economic recession can be a good idea as long as you make an informed visualization well-nigh your major and thoughtfully consider the financing of pursuing a unrepealable degree.

Paying for school in an economic downturn

Budgeting and taking forfeit factors into worth are super important at all times — and expressly during a recession. You’ll want to ensure you have unbearable money to meet your financial goals.

FAFSA

The Free Using for Federal Student Aid (FAFSA) is a form you must fill out to qualify for federal aid, such as student loans, scholarships, and grants. You can wangle this using by visiting StudentAid.gov

Filling out this form can requite you wangle to souvenir aid. Plus, federal student loans come with many benefits such as wangle to income-driven repayment (IDR) plans and student loan forgiveness programs.

Remember: Most federal student loan payments are paused and the interest rate is 0%. This pause is set to elapse 60 days without the courts make a ruling on President Biden’s debt relief plan or 60 days without June 30, 2023.

Learn More: Federal Student Loans Guide: Subsidized and Unsubsidized Loans Review

Private student loans

Private student loans aren’t backed by the federal government and are offered by many private financial institutions, like banks, credit unions, and online lenders.

Since these loans don’t come with the same benefits as federal student loans, you should frazzle your federal student loan options first surpassing considering them.

If federal loans aren’t unbearable to imbricate your higher expenses, private student loans can help imbricate any funding gaps.

If you need to take out private student loans, visit Suppositious to compare private student loan rates from various lenders in minutes.

The companies in the table unelevated are Credible’s tried partner lenders. Whether you’re the borrower or cosigner, Suppositious makes it easy to compare rates from multiple private student loan providers without well-expressed your credit score.

Lender Fixed Rates From (APR) Variable Rates From (APR)
 
 
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, consumer service, cosigner options, and more. Read our full methodology.
4.62% 10 5.74% 10
  • Fixed APR: 4.62% 10
  • Variable APR: 5.74% 10
  • Min. credit score: Does not disclose
  • Loan amount: $2,001 to $400,000
  • Loan terms (years): 5, 7, 10, 12, 15, 20
  • Repayment options: Full deferral, fixed/flat repayment, interest only, wonk deferment, military deferment, forbearance, loans discharged upon death or disability
  • Fees: None
  • Discounts: 0.25% to 1.00% will-less payment discount, 1% mazuma when graduation reward
  • Eligibility: Must be a U.S. resider or permanent resident or DACA student enrolled at least half-time in a degree-seeking program
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: Without 12 on-time principal and interest payments
  • Loan servicer: Launch Servicing, LLC
 
 
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, consumer service, cosigner options, and more. Read our full methodology.
4.99% 1 4.89%
  • Fixed APR: 4.99% 1
  • Variable APR: 4.89%
  • Min. credit score: 720
  • Loan amount: $1,000 to $350,000
  • Loan terms (years): 5, 10, 15
  • Loan types: Any private or federal student loan
  • Repayment options: Full deferral, full monthly payment, interest only, firsthand repayment, wonk deferment, military deferment, forbearance, loans discharged upon death or disability
  • Fees: Late fee
  • Discounts: Autopay, loyalty
  • Eligibility: Misogynist in all 50 states (international students can wield with a creditworthy U.S. resider or permanent resident cosigner)
  • Customer service: Email, phone, chat
  • Soft credit check: Yes
  • Cosigner release: Without 36 months
  • Loan servicer: Firstmark Services
 
 
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, consumer service, cosigner options, and more. Read our full methodology.
4.49% 2,3 4.49% 2,3
  • Fixed APR: 4.49% 2,3
  • Variable APR: 4.49% 2,3
  • Min. credit score: Does not disclose
  • Loan amount: $1,000 up to forfeit of attendance
  • Loan terms (years): 5, 8, 10, 15, 20
  • Repayment options: Full deferral, full monthly payment, fixed/flat repayment, interest only, firsthand repayment, wonk deferment, forbearance, loans discharged upon death or disability
  • Fees: Late fee
  • Discounts: Autopay
  • Eligibility: Must be a U.S. resider or permanent resident and be making satisfactory wonk progress.
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: Without 24 months
  • Loan servicer: Higher Ave Servicing LLC
 
 
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, consumer service, cosigner options, and more. Read our full methodology.
3.65% 5.46%
  • Fixed APR: 3.65%
  • Variable APR: 5.46%
  • Min. credit score: Does not disclose
  • Loan amount: $1,000 to $99,999 annually ($180,000 volume limit)
  • Loan terms (years): 7, 10, 15
  • Repayment options: Full deferral, firsthand repayment, interest-only repayment, flat/full repayment, wonk deferment, military deferment, forbearance, loans discharged upon death or disability
  • Fees: None
  • Discounts: Autopay
  • Eligibility: Misogynist to borrowers in all 50 states. Must be a U.S. resider or permanent resident.
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Cosigner release: Without 36 months
  • Loan servicer: American Education Services
  • Min. income: Does not disclose
 
 
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, consumer service, cosigner options, and more. Read our full methodology.
7.52% 7 6.89% 7
  • Fixed APR: 7.52% 7
  • Variable APR: 6.89% 7
  • Min. credit score: 750
  • Loan amount: $1,000 to $200,000
  • Loan terms (years): 7, 10, 15
  • Repayment options: Full deferral, full monthly payment, interest only, firsthand repayment, wonk deferment, loans discharged upon death or disability
  • Fees: Late fee
  • Discounts: Autopay
  • Eligibility: Must be a U.S. resider or permanent resident and have a minimum income of $30,000.
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: Without 36 months
  • Loan servicer: Granite State Management & Resources (GSM&R)
 
 
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, consumer service, cosigner options, and more. Read our full methodology.
4.37% 8 5.86% 8
  • Fixed APR: 4.37% 8
  • Variable APR: 5.86% 8
  • Min. credit score: 670
  • Loan amount: $1,001 up to forfeit of attendance
  • Loan terms (years): 5, 10, 15
  • Repayment options: Full deferral, full monthly payment, interest only, firsthand repayment, wonk deferment, forbearance
  • Fees: Late fee
  • Discounts: Autopay, reward for on-time graduation
  • Eligibility: Must be an Indiana resident or a U.S. resider peekaboo an eligible Indiana school
  • Customer service: Email, phone, chat
  • Soft credit check: Yes
  • Cosigner release: Without 48 months
  • Loan servicer: American Education Services
 
 
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, consumer service, cosigner options, and more. Read our full methodology.
4.89% N/A
  • Fixed APR: 4.89%
  • Variable APR: N/A
  • Min. credit score: 670
  • Loan amount: $1,500 up to forfeit of ubiety less aid
  • Loan terms (years): 10, 15
  • Repayment options: Full deferral, interest only, firsthand repayment, wonk deferral, forbearance
  • Fees: None
  • Discounts: None
  • Eligibility: Must be a U.S. resider or permanent resident and be making satisfactory wonk progress.
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: Without 48 months
  • Loan servicer: American Education Services (AES)
 
 
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, consumer service, cosigner options, and more. Read our full methodology.
4.509 - 14.83%9 5.37%9 - 15.709
  • Fixed APR: 4.509 - 14.83%9
  • Variable APR: 5.37%9 - 15.709
  • Min. credit score: Does not disclose
  • Loan amount: $1,000 up to 100% of school-certified forfeit of attendance
  • Loan terms (years): 10 to 209
  • Repayment options: Full deferral, fixed/flat repayment, interest only, wonk deferment, forbearance, loans discharged upon death or disability
  • Fees: Late fee, non-sufficient funds (NSF) fee
  • Discounts: Autopay
  • Eligibility: Must be a U.S. resider or permanent resident. Also misogynist to non-U.S. resider students (including DACA students) peekaboo a school located in the U.S. who wield with a qualifying cosigner.
  • Customer service: Phone, chat
  • Soft credit check: Yes
  • Cosigner release: Borrowers can wield without graduation, 12 subsequent on-time principal and interest payments, and meeting unrepealable credit requirements.
  • Loan servicer: Sallie Mae
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Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where misogynist | 10Ascent Disclosures | 1Citizens Disclosures | 2,3College Ave Disclosures | 7EDvestinU Disclosures | 8INvestEd Disclosures | 9Sallie Mae Disclosures

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