Actuarial science ranked the most valuable college major

Recent actuarial science graduates are entering the industry at an opportune moment. (Image: Shutterstock)

(Bloomberg) – Taking on student debt is a financial risk. Those in the best position to pay it off after graduation are those who study exactly such risks.

Actuarial science, the formal term for the study of insurance, was ranked the most valuable college major, according to a Bankrate.com report released on Monday. Actuarial science majors earn an average annual salary of $108,658 and have a better-than-average unemployment rate at 2.3%. And at a time when student debt is at a record high, these graduates are less likely to incur the added expense of additional schooling and delayed earning potential. Less than 1 in 4 graduates pursue advanced degrees.