Student Loan Advice For New College Students

Career choice can be a tough decision for many students, thus it's common to hear first time college students asking the question -- what should I study? I always advice friends and family members, especially those who do well in health sciences, to pursue a career in health care. The reason I often advice them to do this is based on these three simple but logical factors:

1. The nation's aging population
   
2. The unhealthy lifestyles and behaviors of many Americans
   
3. The Bureau of Labor Statistics Projection

Based on finding, people 65 years of age and older, accounts for approximately 9% of the population in 1960, but almost 13% by 1997. Projections for the year 2030 indicate that 20% of the population will be 65 or over.

No doubt, the aging population affects the demand for health care because older people encounter more frequent and more prolonged spells of illness. Research findings revealed that specially, those 65 and older consume about three and one-half times as much health care as those between 19 and 64. in turn, people over 84 consume almost two and one-half times as much health care as those in 65 to 69 age group. It's a known fact that health care expenditures are often extraordinary high in the last year of one's life.

Also, it was previously predicted that the baby boomers ---76 million people born between 1946 and 1994 would start turning 65 by 2011. This is expected to create a substantial surge in the demand for health care.

Substance abuse helps drive the cost of health care. Poly-substance abuse such as alcohol, tobacco, and illicit drugs damages one's health, and is therefore, an important component of the demand for health care services. Alcohol is also known to be a major cause of injury-producing traffic accidents and liver disease.

It's believe that approximately 25 to 40 percent of all general-hospital patients are hospitalized due to alcohol related complication. Heavy use of tobacco increases the probability of cancer, heart disease, bronchitis, and emphysema; illicit drugs are a major contributory factor to violent crime, health problems in infants , and the spread of AIDS. Additionally, users of illicit drugs make more than 370,000 costly visits to hospital rooms each year according to findings.

As you can see unhealthy behaviors are also another major reason factor for the overall high health care costs in the U.S. A study conducted by the Department of Transportation in 1996 revealed that auto crash victims who weren't wearing seat belts at the time of an accident, incurred an estimated $5000 more of health care expenses than victims who were wearing seat belts. Failure to wear seat belts contributed an additional $68 million of health care expense in just the seven states studied.

According to the Bureau of Labor Statistics projections for 2010-2020, industries and occupations related to health care, personal care and social assistance is projected to have the fastest job growth between 2010-2020. Jobs with Masters degree are expected to grow the fastest, while those requiring a high school diploma will experience the slowest growth over this time frame.

We are all aware of the fact that today, college education can cost an arm and a leg. According to the U.S. Department of Education, National Center for Education Statistics, for the 2010-2011 academic year, annual current dollar prices for undergraduate tuition, room, and board were estimated to be $13,600 at public institutions, while at private non-profit institutions the costs were $36,300 --- almost three times more, and 23,500 at private for-profit institutions. Whether you are paying out of pocket, getting help from family, borrowing private or government loans, this is certainly a lot of money that you simply cannot afford to waste.

Understandably, there are numerous other great careers out there, and not everyone excels in math and science, or even have an interest in health care. However, my advice to you, don't spend hard earned money on a college degree that's not marketable. After graduation, you shouldn't have to struggle or relocate just to find a job in your field of study. After completing college, a lot of students ended up accepting low-income jobs in other fields just to make ends meet and to repay their student loans. However, if you carefully choose a unique area of study, often times you can avoid all of this. So, if you are about to start college and is currently asking others or yourself the question --- what should I study? I suggest you choose a health related field, if you have a passion for health sciences.

I.McFarlane 9/7/2012