With the slump of the U.S. economy and job market, many have questioned whether universities are the next bubble to burst, sometimes viewed as an arena that hasn't changed to meet modern demands. However, a new report from the Georgetown University Center on Education and the Workforce argues that college degrees still pay off, depending on the degree earned and major pursued.

"Hard Times, College Majors, Unemployment and Earnings: Not All College Degrees Are Created Equal" found that students who technical degrees like a computer science degree face a lower unemployment rate of 6 percent, compared with the current national average of 8.6 percent.

Researchers also found that unemployment rates for those who receive health and medicine degrees also face low unemployment rates - about 5.4 percent - because the medical industry is stable and growing. Engineering, science and education degrees also will improve students' chances of finding a job and making more money upon graduation, the study found.

"A bachelor’s degree is one of the best weapons a job seeker can wield in the fight for employment and earnings," the study said.