November 10, 2010

Here's Your Diploma....and Your Bill for $24K

According to a recent survey, the average new college grad owes $24,000 in student loan debt at a time when the unemployment rate for college grads has set a record by jumping from 5.8% to one year!

Keep in mind that the lower-than-average unemployment rate of college grads is partly due to them taking jobs that don't require a college degree because they need something to help pay back the loans that come due within a year after graduation. That explains why there are an awful lot of college-educated truck drivers and burger flippers at work these days.


Carol J. Alexander said...

It doesn't have to be college, Barb. A friend's son recently graduated from a top-notch school for auto mechanics...9 months...over $20,000...big loan to pay off...can't find a job.

Barbara Frank said...
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Barbara Frank said...

That's got to be scary for him, Carol. But I have to think that he'll find a job before long. More people are keeping their cars because they can't afford new ones. I know some young car mechanics and they're very busy. Hope your friend's son finds a job very soon!