By Andrew Mccue | 9/21/16 12:55:27For years, college grads have been able to count on a cushy salary that lets them pay off student loans and other obligations.
Now, a new study from the Economic Policy Institute suggests that the number of graduates with the option of a $30k annual stipend is shrinking.
The report, published this week, found that the median yearly stipend of $31,500 has been rising steadily since 2007, with a significant increase from $25,000 in 2007 to $30.7k in 2015.
“The increase is not related to any particular increase in inflation,” the report says.
“It is due to the impact of the Great Recession, and rising student loan debt.”
The report also found that among all graduate degrees, the median stipend for a bachelor’s degree dropped from $28,700 to $25k between 2007 and 2015.
The increase, the report found, was mostly driven by a decline in the number with bachelor’s degrees.
The median stipends for a master’s degree, which includes a bachelor degree, rose from $38,700 in 2007, to $36,800 in 2015, and then to $37,000 by 2019.
The authors of the report say this trend will continue unless policymakers address student loan defaults, the need to pay for college, and wage stagnation.