Members of the class of 2016 will start their final year of college in a couple of weeks. In May, they will earn diplomas and the title of most-indebted graduating class ever. Trends show that with each school year, a new class of students becomes more indebted than the last. The class of 2014 owed an average of $33,000 in 2014. That figure rose to $35,000 in 2015.
A Pew Charitable Trusts survey released recently showed that over 50 percent of black and Latino Generation Xers and Millennials regretted owing so much. Just 32 percent of their white counterparts felt the same. This difference might be due to the unequal access to higher education, knowledge about financing tools, and monetary family support that the three groups experience. That sort of hesitance toward student loans is likely linked to whites having greater debt than Blacks and Latinos.
However, there are career paths open to anyone that could make the student debt burden more bearable. Some can even lead to a good chunk of those federal loans being forgiven.
These six careers can lead to someone else picking up the tab for your loans.
1) Become a Teacher
But not just any teacher. According to Education Department guidelines, public-school teachers can get up to $17,500 of their loans forgiven if they teach math or science for five consecutive years at a federally designated low-income secondary school, or if they work for five years as a special education teacher at a federally designated low-income elementary or secondary school.