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This infographic comes to us from eCampus.com and seeks to answer one simple question: is the cost of college really worth it? Upon submitting the infographic, the folks at eCampus said the following:
According to the infographic posted on the eCampus blog, tuition is rising at an average rate of 5.5% every year. Students at a public 2 year institution should expect to get the cheapest education, paying on average $2,713 for 1 year of classes. Private 4 year colleges come with the highest price tag, averaging around $37,000. This totals the cost of a 4 year education at a private college to be approximately $148,000.
At such high costs students are racking up student loan debt like never before. Over two thirds of all graduating students have some type of student loan debt. The average student loan debt is now $23,186 per student. On a repayment plan at $175 each month, students can expect to pay off this amount in 33 years, paying over $45,000 in interest along the way. This leads over 7% of all student loan debtors to default within the first year of repayment. “These figures could make your head spin. By publishing statistics like this in an easily digestible manner we would hope that we can help educate our customers to make good financial decisions”, said Matt Montgomery, President and CEO of eCampus.com. “At eCampus.com we strive to provide great deals for our students so that college isn’t so difficult on their future finances. In addition to our already great deals we are now renting textbooks and saving students more money than ever before.”
The infographic also details the difference in earnings a college student might experience depending on their degree and major choice. According to the infographic, engineering students stand to make the most money during their careers, with petroleum engineers making the most at $157,000 per year. On average, students who graduate with a bachelors degree will make half a million dollars more per year than people with just a high school diploma, but still $1.3 million less than someone with a doctoral degree.
When it comes down to it, there are some definite pros and cons to this infographic. I prefer to start out with the pros: The font chosen for the infographic is great, as it’s the same font used on dollar bills. The background helps to emphasize the theme by showcasing faded dollars as well.
Now for some cons: The infographic relies heavily on typography to showcase the information, which is good, but a little overdone. There are many points on the infographic where more charts/graphs could be used rather than lists or large to small text. There’s not a lot of imagery driving this infographic, even though there’s a lot of opportunity for it. That would all be fine if it weren’t for the eyesore con: the logo at the bottom is overwhelming. It clashes with the color scheme and is way too large. All infographics are used to grow brand awareness and build links, but this is too much self promotion and it will likely discourage other bloggers from posting this infographic on their own sites. Make the logo smaller and bring its transparency down to 50% so that it isn’t too “in your face,” and the infographic would be drastically improved.0