Calculating the value of college majors

We’ve expressed that the value of your college degree is influenced heavily by several factors, including choice of major and how much debt you take on to pay for it.

And now a new calculator from The Hamilton Project makes it easier for college-bound students to understand how much their degrees will cost them over time depending on major, student loan debt, interest rates, and term of the loan.

You can also see what your monthly payment will be and what percentage of your monthly income you’ll pay over time, based on the average salaries for college graduates in that major.

It’s a handy tool for families to use as they evaluate their college options, decide whether they’ll receive a good return on their college investment, and figure out how to pay for it.

For students, seeing how much their monthly payments will be and how much interest they’ll pay over the course of the loan can help them keep things in perspective and better understand the consequences of taking out loans to pay for college.

Check out the interactive calculator to input your own major and loan terms to find out how much you’ll pay for college over time depending on your degree.