Despite the fluff being floated by the Obama administration about an improving job market, the unemployment rate for recent college grads is reported at 8.8%!
What that number doesn't tell you, however, is that for graduates who are actually employed, it is often at compensation levels that cannot possibly allow them the opportunity to both live and repay their student loan debt.
For instance, how about the graduate who has $100,000 in student loan debt that's accruing at upper single-digit interest rates working as a bank teller making little more than the minimum wage.
What comes first, food and shelter or debt repayment?
I think we know the answer to that.
Student Loan Bubble!
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