Recession-Resistant College Degrees

General

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Although there’s no guarantee that getting a college degree 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 decline in economic activity that is spread across the economy and lasts longer than a few months, according 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 look at five recession-proof college 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 average or faster-than-average growth over the next decade. Here are five degrees to consider.

Public accounting

Median salary: $50,390

With a public accounting degree, you’ll study courses such as accounting, internal auditing, and taxation. After you’ve completed a bachelor’s degree, you can get a variety of financial jobs, such as an internal auditor, tax manager, and accounting manager.

Accounting jobs are expected to grow 6% from 2021 to 2031, according 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 complete 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 business and healthcare courses, such as economics, accounting, healthcare economics, and healthcare administration. When you complete this degree, you can get a job as a hospital administrator, health insurance analyst, or medical office business manager.

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

Nursing

Median salary: $77,600

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

Job openings for registered nurses are expected to grow 6% from 2021 to 2031, according 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 improve 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 decision about your major and carefully consider the costs of pursuing a certain degree.

Paying for school in an economic downturn

Budgeting and taking cost factors into account are super important at all times — and especially during a recession. You’ll want to ensure you have enough money to meet your financial goals.

FAFSA

The Free Application 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 access this application by visiting StudentAid.gov

Filling out this form can give you access to gift aid. Plus, federal student loans come with many benefits such as access 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 expire 60 days after the courts make a ruling on President Biden’s debt relief plan or 60 days after 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 exhaust your federal student loan options first before considering them.

If federal loans aren’t enough to cover your college expenses, private student loans can help cover any funding gaps.

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

The companies in the table below are Credible’s approved partner lenders. Whether you’re the borrower or cosigner, Credible makes it easy to compare rates from multiple private student loan providers without affecting 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, customer 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, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: None Discounts: 0.25% to 1.00% automatic payment discount, 1% cash back graduation reward Eligibility: Must be a U.S. citizen 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: After 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, customer 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, immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay, loyalty Eligibility: Available in all 50 states (international students can apply with a creditworthy U.S. citizen or permanent resident cosigner) Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 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, customer 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 cost of attendance Loan terms (years): 5, 8, 10, 15, 20 Repayment options: Full deferral, full monthly payment, fixed/flat repayment, interest only, immediate repayment, academic deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 24 months Loan servicer: College 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, customer 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 aggregate limit) Loan terms (years): 7, 10, 15 Repayment options: Full deferral, immediate repayment, interest-only repayment, flat/full repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: None Discounts: Autopay Eligibility: Available to borrowers in all 50 states. Must be a U.S. citizen or permanent resident. Customer service: Phone, email Soft credit check: Yes Cosigner release: After 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, customer 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, immediate repayment, academic deferment, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident and have a minimum income of $30,000. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 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, customer 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 cost of attendance Loan terms (years): 5, 10, 15 Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, forbearance Fees: Late fee Discounts: Autopay, reward for on-time graduation Eligibility: Must be an Indiana resident or a U.S. citizen attending an eligible Indiana school Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 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, customer 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 cost of attendance less aid Loan terms (years): 10, 15 Repayment options: Full deferral, interest only, immediate repayment, academic deferral, forbearance Fees: None Discounts: None Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 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, customer 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 cost of attendance Loan terms (years): 10 to 20⁹ Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, forbearance, loans discharged upon death or disability Fees: Late fee, non-sufficient funds (NSF) fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident. Also available to non-U.S. citizen students (including DACA students) attending a school located in the U.S. who apply with a qualifying cosigner. Customer service: Phone, chat Soft credit check: Yes Cosigner release: Borrowers can apply after graduation, 12 consecutive on-time principal and interest payments, and meeting certain credit requirements. Loan servicer: Sallie Mae
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Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available \| ¹⁰Ascent Disclosures \| ¹Citizens Disclosures \| ^2,3College Ave Disclosures \| ⁷EDvestinU Disclosures \| ⁸INvestEd Disclosures \| ⁹Sallie Mae Disclosures

About the author

Jerry Brown

Jerry Brown is a personal finance writer, owner of the Peerless Money Mentor blog, and a contributor to Credible. He has written for major publications such as Forbes Advisor, Business Insider, and Rocket Mortgage.

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