With the constant rise in the student loan crisis, it is clear it not only affects individual graduates but may spell doom for specific academic fields. An area that is particularly affected by this crisis is the soft sciences, which are finding it difficult to retain talented students due to the financial burden of student loans
In this article, we will discuss how the ever-rising student loan debt is holding back the soft sciences and driving students away.
What are Soft Sciences?
Soft sciences can also be called behavioral and social sciences. It refers to the branch of science that relies more on conjecting information than following the detailed and precise scientific method.
These social sciences can include human geography, sociology, communication studies, or psychology. These disciplines are important in how much we understand human behavior and society and are critical when trying to shape policy decisions.
The problem, however, is that soft sciences are often looked down upon in favor of the more practical and mathematical approach that is hard sciences. Furthermore, since getting a good job may not be so easy for soft sciences it makes it a lot more difficult to pay off student loans.
How are student loans holding back soft sciences?
To get a student loan you can easily fill in a SoFi student loan application. However, if you're studying soft sciences getting a student loan might be discouraging. Here's why;
Debt Burden
The financial burden debt puts on graduates is backbreaking. Because of this, many are unable to keep their head above water as a result of the huge monthly payments.
This results in people opting to take on well-paying jobs rather than following their passion for soft sciences, which generally offer lower salaries. As a ripple effect, it causes a brain drain in the soft sciences department, with potential talent flocking to more lucrative careers.
High Cost Of Education
With the cost of furthering education on the constant rise, a lot of students are forced to accrue debt to realize their academic dreams. Since the soft sciences offer less pay potential than hard sciences, it gives students little reason to go down that career path.
For instance, even if a high school student wanted to study a soft science course, they may be discouraged by their guardian to choose a more lucrative career path due to how much they will have to pay back in the long run.
This makes fewer candidates enter the field, further compounding the scarcity of qualified professionals in the soft sciences.
Fewer Resources For Start-ups
Most soft sciences graduates always want to have their own business, service they render, or a research firm. However, due to student loan debts, they find it difficult to afford or take risks.
This problem then leads to a shortage of entrepreneurial ideas and a limit to the development of new ideas in the soft sciences space. Simply put, if a soft sciences graduate has an idea for a product, they will need some sort of funding to fully develop it and successfully market the product.
Sadly, student loans may limit a graduate's financing options leading to a shortage of start-ups in the soft sciences.
Limited Access To Continuing Education
Jiddu Krishnamurti once said that there is no end to education and that rings true with soft sciences. Many soft sciences graduates need to further their education to stay up to date on the latest research and developments in their various fields.
However, because of the burden brought by huge student loans, many graduates can't afford these additional education fees. This includes seminars, workshops, and certifications.
This leads to a lack of access to further education opportunities, limiting how competitive a graduate can be in their field. It also limits research opportunities and an advance in their career.
This is because the employment pool is always saturated and employers sometimes prefer graduates with a higher form of education.
Reduced Job Satisfaction
Due to the lower prospective compensation, a soft science graduate may be obliged to choose a higher-paying career in another field to pay off their debt faster. They may find themselves in jobs that are not in line with their passions or professional ambitions, which can lead to decreased job satisfaction and motivation.
It is natural for an employee who is dissatisfied to suffer burnout, weariness, and a loss of productivity. As a result, they are limited in their ability to contribute to their profession.
In Conclusion
The direct impact of student loans on soft sciences is significant and must be resolved to promote the future of the field. Without a steady stream of talented individuals in the soft sciences field, we may limit how much we understand human behavior.
