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The report calls for closer regulatory scrutiny and clearer transparency on program outcomes to reduce risks for students and public funds.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/research-report/","Research & Report",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/document/graduate-degrees-risky-and-unequal-paths-to-the-top-executive-summary/584965/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/graduate-degrees-risky-and-unequal-paths-to-the-top-executive-summary/584965.png","ImageObject",300,407,{"name":42,"@type":43},"Sophia Brooks","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-28","2026-10-15",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",5,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"Why do graduate degrees still create financial risk despite higher earnings?","Question",{"text":63,"@type":64},"Rising tuition and debt erode the degrees’ value. Returns vary by field, and some borrowers graduate with debt they cannot reasonably repay from their earnings.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"What trends in cost and debt are highlighted for graduate programs?",{"text":68,"@type":64},"Median net tuition and fees among graduate programs increased more than threefold since 2000. Median debt principal among graduate student borrowers rose from about $34,000 to $50,000.",{"name":70,"@type":61,"acceptedAnswer":71},"How do federal loan options contribute to graduate student debt escalation?",{"text":72,"@type":64},"Direct Unsubsidized Stafford loans make up most disbursements, but Grad PLUS loans have greater potential to worsen debt growth. 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Closer regulatory scrutiny and greater transparency about program outcomes would minimize the risks to borrowers and taxpayers.  \nThe High Rewardsand High Costs of Graduate Degrees  \nGraduate degrees—including master’s, professional, and doctoral degrees—offer the highest earnings prospectsand best chances of employment of all educational credentials. The graduate-to-bachelor’s-degree earnings premium has held steady for the  \npast 30 years and has even increased for doctoral degrees.1 Yet despite these economic advantages, the rising costs and debt associated with earning a graduate degree are eroding these degrees’ value.  \nSince 2000, the median net tuition and fees among graduate degree programs have more than tripled,2 and the median debt principal among graduate student borrowers has grown from $34,000 to $50,000 (Figure 1) . High debt is not necessarily a problem if graduates earn enough to repay their debt. However, returns to graduate education vary substantially by field of study,3 and some graduate programs leave completers with debt that they cannot reasonably repay from their earnings. When borrowers can’t repay their loans, taxpayers often pick up the remainder of the tab. Minimizing the risks to borrowers and the costs to taxpayers will require closer regulatory scrutiny and greater transparency about graduate program outcomes.  \nDebt and Earnings Trends in Graduate Education  \nFor more information on graduate degrees, including  \n• earnings and earnings premiums by degree type and field of study;  \n• changing trends in popularity of different fields of study;  \n• trends in cost and debt associated with graduate programs;  \n• graduate debt by field of study; and  \n• equity gaps in graduate degree attainment and outcomes by race/ethnicity and gender  \nplease see Graduate Degrees: Risky and Unequal  Paths to the Top.  \nTo see how all graduate programs in the College Scorecard would perform on our proposed in-field earnings premium and debt-to-earnings tests, visit our online data tool.  \n1 Georgetown University Center on Education and the Workforce analysis of data from the US Census Bureau and Bureau of Labor Statistics, Current Population Survey, 1992–2022.  \n2 Georgetown University Center on Education and the Workforce analysis of data from the US Department of Education, National Postsecondary Student Aid Study (NPSAS): Graduate Students (GR), 2000 and 2020.  \n3 For example, workers with graduate degrees in social sciences (including law) have median earnings that are 54 percent higher than those of workers with bachelor’s degrees in the same fields, whereas workers with graduate degrees in the humanities and the arts have median earnings that are 10 percent higher than those with bachelor’s degrees in the same fields. Georgetown University Center on Education and the Workforce analysis of data from the US Census Bureau and US National Science Foundation, National Survey of College Graduates, 2021. For more on earnings by graduate degree field of study, see Part II of the full report.  \nExecutive Summary 1  \nHow Graduate Education Financing and Degree Outcomes Put Students at Risk  \nThe risk associated with earning a graduate degree stems in part from the financing available to graduate students. Graduate students have two options for federal student loan financing:  \n• Direct Unsubsidized Stafford loans account for  \n68 percent of annual federal loan disbursements to graduate students.4 Students do not need to demonstrate financial need to receive these loans. Graduate students can borrow up to $20,500 annually and up to $138,500 in the aggregate for both undergraduate and graduate studies, with some exceptions.5  \n• Grad PLUS loans account for the remaining  \n32 percent of di","cbCaiblP8FxRl1qV","https://ap.wps.com/l/cbCaiblP8FxRl1qV","pdf",893844,16,"English","# Executive Summary\n## The High Rewards and High Costs of Graduate Degrees\n## Debt and Earnings Trends in Graduate Education\n## How Graduate Education Financing and Degree Outcomes Put Students at Risk","[{\"question\":\"Why do graduate degrees still create financial risk despite higher earnings?\",\"answer\":\"Rising tuition and debt erode the degrees’ value. Returns vary by field, and some borrowers graduate with debt they cannot reasonably repay from their earnings.\"},{\"question\":\"What trends in cost and debt are highlighted for graduate programs?\",\"answer\":\"Median net tuition and fees among graduate programs increased more than threefold since 2000. Median debt principal among graduate student borrowers rose from about $34,000 to $50,000.\"},{\"question\":\"How do federal loan options contribute to graduate student debt escalation?\",\"answer\":\"Direct Unsubsidized Stafford loans make up most disbursements, but Grad PLUS loans have greater potential to worsen debt growth. Grad PLUS accounts for a smaller share of students receiving aid but a larger share of disbursement risk.\"}]","Graduate Degrees - Risky and Unequal Paths to the Top - Executive Summary | PDF",1792053136]