Almost Half of US Master’s Degree Courses Have a Negative Return on Investment: Report

The potential income a student can make depends on the program they enroll in, with some popular subjects faring poorly in the job markets.

High school students line up for their graduation ceremony in Uvalde, Texas, on June 24, 2022. Jordan Vonderhaar/Getty Images

Almost a third of American college students are enrolled in programs that do not generate a positive return on investment (ROI), according to a recent analysis by non-profit thinktank The Foundation for Research on Equal Opportunity (FREOPP).

The May 9 analysis estimated the ROI for 53,000 certificate and degree programs. ROI was defined as the increase in lifetime earnings, minus the costs of college and lost earnings while enrolled, that a person can achieve after pursuing higher education.