Regardless of the interest rate charged on student loans, if college graduates can't get well-paid jobs, or any jobs for that matter, they will default!
The President pandering for votes is one thing and it is certainly something that Barack Obama does very well. In fact it might be the only thing!
The video of the President slow-jamming his rhetoric about student loans on Late Night with Jimmy Fallon is a perfect example (watch video here).
But unless a student has the luxury of an Ivy League education as the President did or graduates with the right degree for the economy a good paying job, or any job for that matter, is anything but a sure thing.
Then, regardless of the interest rate being charged on their student loan, these young adults will face the prospect of default along with all of its associated ramifications.
Bottom line? College may not be for everyone no matter how hard the President panders for the votes of this demographic and their parents!
From Global Economic Trend Analysis;
"The USA Today reports graduating class of 2012 is in for a rude awakening as Half of new graduates are jobless or underemployed.
A weak labor market already has left half of young college graduates either jobless or underemployed in positions that don't fully use their skills and knowledge.
Young adults with bachelor's degrees are increasingly scraping by in lower-wage jobs — waiter or waitress, bartender, retail clerk or receptionist, for example — and that's confounding their hopes a degree would pay off despite higher tuition and mounting student loans..." Read the full article here.
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